India focused: IPO, special situations, Stylus Holdings

Himanshu Dugar

India focused: IPO, special situations

Stylus Holdings

Stylus Holdings is a buy-side equity research firm. We offer bottom-up investment ideas as well as provide on demand equity research and portfolio tracking. 
At Stylus, our focus is to identify market dislocations that can generate 20+% IRR with a reasonable margin of safety. As part of our research process, we do a deep dive into the fundamentals of the company, evaluate their competitive positioning and assess their valuation.
Our investment team is led by Himanshu Dugar. Himanshu is a Chartered Accountant and a CFA charter holder. He has 10+ years of active experience in the stock market with stints at CRISIL Research, a S&P Global copmany and Miras Investments, a single family office based in Dubai.

Equity Research Firm

Equity Capital Markets

<ul>
<li>CRL is a fast-growing domestic-focused Indian pharma company that focuses on chronic therapies related to Women's healthcare and cardio-diabetics. It has a diversified portfolio of 550+ products across 71 brands</li>
<li>It follows a roll-up growth model, acquiring brands from global MNCs that are complementary to its existing infrastructure. It has successfully scaled 7 brands  from ~1-2cr to 50+ crores</li>
<li>We estimate the company to deliver high teens earnings growth in the medium term and hence find the IPO attractive at ~30x FY27 earnings relative to peers trading at 25-40x</li>
</ul>


CRL is a fast-growing domestic-focused Indian pharma company that focuses on chronic therapies related to Women's healthcare and cardio-diabetics. It has a diversified portfolio of 550+ products across 71 brands
It follows a roll-up growth model, acquiring brands from global MNCs that are complementary to its existing infrastructure. It has successfully scaled 7 brands  from ~1-2cr to 50+ crores
We estimate the company to deliver high teens earnings growth in the medium term and hence find the IPO attractive at ~30x FY27 earnings relative to peers trading at 25-40x


Corona Remedies IPO Review: Rolling up Growth

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Corona Remedies IPO will open for subscription on December 8 and close on December 10. The IPO price band has been set at INR 1,008–1,062 per share.</li>
<li>The issue is entirely an OFS worth of INR 6,553.71M. Promoters including Dr. Kirtikumar Laxmidas Mehta, and investors including Sepia Investments, an affiliate of ChrysCapital are the main selling shareholders.</li>
<li>Fast growth, demonstrated capabilities of building a diversified portfolio, high presence in chronic and sub-chromic segments, and nationwide marketing network are the main investment thesis for Corona Remedies.  </li>
</ul>


Corona Remedies IPO will open for subscription on December 8 and close on December 10. The IPO price band has been set at INR 1,008–1,062 per share.
The issue is entirely an OFS worth of INR 6,553.71M. Promoters including Dr. Kirtikumar Laxmidas Mehta, and investors including Sepia Investments, an affiliate of ChrysCapital are the main selling shareholders.
Fast growth, demonstrated capabilities of building a diversified portfolio, high presence in chronic and sub-chromic segments, and nationwide marketing network are the main investment thesis for Corona Remedies.  


Corona Remedies IPO: Well-Positioned for Multi-Year Profitable Growth

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>IPM grew 11% YoY in Mar 2026, closing FY2026 at ~10% YoY growth, with Semaglutide generics launching commercially and the GLP-1 market surging more than 3.8x on a MAT basis</li>
<li>The GLP-1 genericization event is a structural inflection for anti-diabetics. Meanwhile, Jan Aushadhi's rapid expansion to ~18,000 stores poses a medium-term headwind to branded IPM volume growth.</li>
<li>Preferred picks include Torrent Pharma, Sun Pharma, Emcure and Corona. Pricing and new launches remain the primary growth levers for FY2027; volume recovery is the variable to watch.</li>
</ul>


IPM grew 11% YoY in Mar 2026, closing FY2026 at ~10% YoY growth, with Semaglutide generics launching commercially and the GLP-1 market surging more than 3.8x on a MAT basis
The GLP-1 genericization event is a structural inflection for anti-diabetics. Meanwhile, Jan Aushadhi's rapid expansion to ~18,000 stores poses a medium-term headwind to branded IPM volume growth.
Preferred picks include Torrent Pharma, Sun Pharma, Emcure and Corona. Pricing and new launches remain the primary growth levers for FY2027; volume recovery is the variable to watch.


IPM Pharma Pulse March-25: Driven by Semaglutide Generics; Low Single Digit Growth Outlook for FY27

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>38 companies featured insider acquisitions in August 2026. Aggregate transaction value was approximately INR 2 billion — a material step up from July 2026's INR 270 million.</li>
<li>We highlight large and small cap companies that experienced significant insider buying during August 2026, as reported on the stock exchanges.</li>
<li>We also present key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.</li>
</ul>


38 companies featured insider acquisitions in August 2026. Aggregate transaction value was approximately INR 2 billion — a material step up from July 2026's INR 270 million.
We highlight large and small cap companies that experienced significant insider buying during August 2026, as reported on the stock exchanges.
We also present key sectors which saw insider buying during the month along with names which have moved significantly above the insider buying price.


Insider Activity: Who Bought Their Own Stock in August 2026 ?

India

Corona Remedies Limited is an Indian pharmaceutical company primarily focused on domestic formulations, with a high concentration in chronic and women's healthcare segments. The company develops, manufactures, and markets a diversified portfolio of prescription-based medicines across therapeutic areas including women's healthcare, cardiology, diabetology, pain management, and urology. Corona Remedies is headquartered in Ahmedabad, Gujarat, India, and was founded in 2004.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Corona Remedies (CORONA IN)

Corona Remedies IPO Review: Rolling up Growth

CRL focuses on chronic therapies for Women's healthcare and cardio-diabetics, with a diverse portfolio of 550+ products. It follows a roll-up...

Himanshu Dugar

Corona Remedies IPO: Well-Positioned for Multi-Year Profitable Growth

Corona Remedies IPO will open for subscription on December 8 and close on December 10. The IPO price band has been set at INR1,008–1,062 per share....

Tina Banerjee

IPM Pharma Pulse March-25: Driven by Semaglutide Generics; Low Single Digit Growth Outlook for FY27

IPM sees 11% YoY growth in Mar 2026, driven by Semaglutide generics and GLP-1 market surge. Jan Aushadhi's expansion poses challenge to branded...

Nimish Maheshwari

Insider Activity: Who Bought Their Own Stock in August 2026 ?

September 2026 is witnessing an increase in insider buying transactions before the earnings season starts next month. Few notable names coming up...

Sreemant Dudhoria

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Corona Remedies IPO Review: Rolling up Growth

CRL focuses on chronic therapies for Women's healthcare and cardio-diabetics, with a diverse portfolio of 550+ products. It follows a roll-up...

Himanshu Dugar

Corona Remedies IPO: Well-Positioned for Multi-Year Profitable Growth

Corona Remedies IPO will open for subscription on December 8 and close on December 10. The IPO price band has been set at INR1,008–1,062 per share....

Tina Banerjee

IPM Pharma Pulse March-25: Driven by Semaglutide Generics; Low Single Digit Growth Outlook for FY27

​IPM sees 11% YoY growth in Mar 2026, driven by Semaglutide generics and GLP-1 market surge. Jan Aushadhi's expansion poses challenge to branded...

Nimish Maheshwari

Insider Activity: Who Bought Their Own Stock in August 2026 ?

September 2026 is witnessing an increase in insider buying transactions before the earnings season starts next month. Few notable names coming up...

Sreemant Dudhoria

IPM sees 11% YoY growth in Mar 2026, driven by Semaglutide generics and GLP-1 market surge. Jan Aushadhi's expansion poses challenge to branded...