Poly Medicure Limited has officially reported that there has been no deviation or variation in the utilization of funds raised through its Qualified Institutions Placement (QIP) for the quarter ended June 30, 2026. The company confirmed this in its submission to the stock exchanges, following a review by its Audit Committee. The total funds raised were approximately ₹99,999.98 lakh, with all proceeds allocated according to the original objects of the issue.
QIP Fund Utilization Confirmed
Poly Medicure Limited has submitted a statement confirming that there has been no deviation or variation in the utilization of funds raised via its Qualified Institutions Placement (QIP). This report pertains to the financial quarter that concluded on June 30, 2026. The company’s Audit Committee has reviewed the actual utilization of funds, which aggregated to approximately ₹99,999.98 lakh, and found them to be in line with the placement document’s objectives.
Breakdown of Fund Allocation
The funds were originally raised through the allotment of 53,19,148 equity shares at a price of ₹1880/- per share. The stated objects for these funds included:
- Funding capital expenditure for setting up manufacturing facilities, with an original allocation of ₹49,973.16 lakh.
- Pursuing inorganic initiatives, with an allocation of ₹25,026.84 lakh.
- General corporate purposes, with an initial allocation of ₹23,534.37 lakh.
As of June 30, 2026, the utilization for capital expenditure was ₹8,117.62 lakh, for inorganic initiatives was ₹25,026.84 lakh, and for general corporate purposes was ₹18,877.46 lakh. The total utilized amount stands at ₹52,021.92 lakh.
Surplus Adjustment
A minor surplus of ₹34.39 lakh arose from issue expenses. This surplus was adjusted against the General Corporate Purposes (GCP) object, leading to a revised GCP allocation and an adjusted net proceeds amount. The company explicitly stated that no deviation occurred in the utilization of proceeds concerning the objects of the issue.
Source: BSE
