Poly Medicure Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, detailing the utilization of proceeds from its Qualified Institutional Placement (QIP). The report, issued by CRISIL Ratings Limited, confirms that the utilization of funds is in line with the disclosures made in the Offer Document for capital expenditure and general corporate purposes.
Poly Medicure Submits QIP Monitoring Report
Poly Medicure Limited has officially submitted its Monitoring Agency Report to the stock exchanges, covering the financial quarter ending June 30, 2026. This report, prepared by CRISIL Ratings Limited, provides an overview of the utilization of funds raised through the company’s Qualified Institutional Placement (QIP) issue.
Fund Utilization Details
The report indicates that the utilization of the QIP proceeds is in adherence to the disclosures made in the Offer Document. The identified objects for monitoring include funding capital expenditure for setting up manufacturing facilities and pursuing inorganic initiatives, alongside general corporate purposes. As of June 30, 2026, the company has utilized a significant portion of the funds towards these objectives. Specifically, the capital expenditure for manufacturing facilities has seen utilization, and general corporate purposes are being addressed as per the plan.
Status of Projects
The monitoring report notes that the capital expenditure for setting up manufacturing facilities is progressing, with a planned completion date revised to Q1 FY27. A delay in implementation has been attributed to the management’s revised capex execution plan for certain project locations, with land acquisition and lease deed finalization expected to pave the way for commencing capex activities. Inorganic initiatives are reported as fully utilized as of the quarter ended December 31, 2026.
Unutilized Proceeds Deployment
Details on the deployment of unutilized proceeds reveal investments in various instruments, including mutual funds and bonds. The market value of these investments as of June 30, 2026, has been provided, along with earnings generated during the quarter.
Source: BSE
