Wakefit, Corona Remedies: Two listings today; check latest GMP before Dalal street listing

Two new companies, namely- Wakefit Innovations and Corona Remedies- are set to make their Dalal Street debut on Monday, December 15 on BSE and NSE. Both the companies received mixed response from the investors during the bidding process, which ran between December 8 and December 10. Listing of these companies is likely to remain a mixed bag.

Ahead of its listing, Corona Remedies was commanding a grey market premium (GMP) of Rs 340-345 apeice, suggesting a listing pop of around 32-33 per cent for investors. However, its GMP, which had slipped below Rs 300 had rebounded ahead of its debut, hinting at healthy listing gains for the investors.

Similarly, Wakefit Innovations also a marginal recover in its premium in the unofficial market. Last heard, Wakefit was commanding a GMP of Rs 4 per share, hinting at a mild listing pop of 2 per cent for the investors. However, its GMP was completely wiped out during the bidding process, thanks to dull subscription figures.

Ahemdabad-based Corona Remedies, which raised a total of Rs of Rs 655.37 crore from its IPO, which was sold in the price band of Rs 1,008-1,062 per share with a lot size of 14 shares. The issue was subscribed a whopping 137.04 times, attracting bids worth over Rs 66,500 crore via over 41.87 lakh applications.

Incorporated in August 2004, Corona Remedies is a pharma company developing, manufacturing, and marketing products in various fields. JM Financial, IIFL Capital Service and Kotak Mahindra Capital Company were the book running lead managers of Corona Remedies IPO and Bigshare Service was the registrar of the issue.

The IPO of Bengaluru-based Wakefit Innovations was offered in the price band of Rs 185-195 per share with a lot size of 76 shares to raise a total of Rs Rs 1,288.89 crore. The issue was overall subscribed a total of only 2.52 times, attracting bids nearly Rs 1,800 crore through 2.33 lakh applications.

Incorporated in 2016, Wakefit Innovations is an Indian (direct-to-consumer) home and sleep solutions playe, known for its high-quality and affordable range of mattresses, furniture, and home décor products. Axis Capital, IIFL Capital Service and Nomura Financial Advisory and Securities (India) were the book running lead managers and MUFG Intime India served as the registrar.