Poly Medicure has announced that it raised funds through the allotment of 53,19,148 equity shares via Qualified Institutions Placement (QIP) at ₹1880 per share. As of September 30, 2025, the Audit Committee reviewed the utilization of funds, aggregating approximately ₹99,999.98 lakh, and confirmed no deviations from the stated objectives in the placement document.
QIP Funds Raised
Poly Medicure successfully raised capital through the allotment of 53,19,148 equity shares to qualified institutional buyers (QIBs). Each share has a face value of ₹5, and was priced at ₹1880 (including a premium of ₹1875). The resolution for this placement was initially passed by the Board of Directors on June 29, 2024, and further approved by shareholders via postal ballot on August 5, 2024.
Funds Utilization Review
The Audit Committee conducted a review on November 8, 2025, regarding the utilization of the funds raised. The total funds received amounted to approximately ₹99,999.98 lakh. The review confirmed that there were no deviations or variations from the intended use of proceeds as outlined in the placement document for the quarter ending September 30, 2025.
Allocation Details
The following is a breakdown of the fund allocation and utilization as of September 30, 2025 (amounts in Lakhs):
- Funding capital expenditure: Original allocation of ₹49,973.16, with ₹2922.78 utilized.
- Pursuing inorganic initiatives: Original allocation of ₹25,026.84, with ₹15093.34 utilized.
- General corporate purposes: Original allocation of ₹23,534.37, with ₹10740.11 utilized.
The total utilized funds amount to ₹28,756.23 (net of issue expenses). The balance unutilized amount of ₹98,534.37 has been transferred to a monitoring account.
Source: BSE
