From ₹5 lakh start-up to a pharma powerhouse of Gujarat: The Corona Remedies Story

Corona Remedies: A Journey of Growth and Innovation

The name Corona Remedies may be unique, but its story is one of inspiration and perseverance. Founded in 2004 with a modest capital of ₹5 lakh, the company has grown exponentially to become one of the top 30 Indian pharmaceutical companies in terms of growth rate.

From ₹5 Lakh to ₹600 Crore: A Journey of Growth

• Corona Remedies was founded on December 6, 2004, with a capital of ₹5 lakh.
• The company's revenue crossed ₹100 crore in 2013.
• After Creador's investment in 2016, the company's revenue touched ₹200 crore.
• In 2021, ChrysCapital bought Creador's 19.5% stake for ₹2,500 crore.
• Today, ChrysCapital holds a 27.5% stake, while the remaining 72.5% is held by the promoters.

Why Go for an IPO Now?

With a strong backing from ChrysCapital, Corona Remedies is now going for a 10.9% Offer for Sale (OFS), which will see ChrysCapital divest 6.59% and the promoters divest 3.5%.

R&D: Critical for Pharma Growth

Corona Remedies is spending 1-2% of its revenues on R&D, which grew at 18% during FY25.

New Hormone Facility: A Step Forward

• The ₹120-crore hormone facility is ready and has received the license.
• The validation process is currently underway and the facility is expected to become functional by Q2 or Q3 of FY27.
• The facility will be used for exports, targeting markets in Europe, South Africa, Canada, Australia, Asia, and CIS.

A Personal Journey of Perseverance

Meet the founder of Corona Remedies, who had completed his B Pharm and MBA and wanted to go abroad. However, his mother refused, and he decided to set up his own business.

• The founder worked with various pharmaceutical companies for four years before setting up his own company.
• He had to mortgage his home to start the business, but with Creador's investment, he was able to repay the mortgage.
• The founder's father had decided to sell the maximum stake if the company had to be divested, while the stakes held by the brothers would not be touched.

Family's Stake in the Company

• The founder's father had decided to sell the maximum stake if the company had to be divested.
• The stakes held by the founder and his brother would not be touched.
• The founder's mother and his wife are among those whose stakes are being divested.