Poly Medicure Limited has confirmed that there was no deviation or variation in the utilization of proceeds raised through the Qualified Institutions Placement (QIP) during the quarter ending December 31, 2025. The Audit Committee reviewed the utilization of approximately ₹99,999.98 lakh raised in August 2024. The actual utilization reported across the set objectives aligns perfectly with the original disclosures made in the placement document.
Review of QIP Fund Utilization for Q3 FY2026
Poly Medicure Limited submitted its mandatory statement regarding the utilization of funds raised via Qualified Institutions Placement (QIP), which was completed on August 22, 2024. The report covers the utilization status for the quarter ended December 31, 2025.
The total funds raised through the allotment of 53,19,148 equity shares at ₹1880/- per share amounted to approximately ₹99,999.98 lakh. The Audit Committee reviewed these figures during its meeting on February 05, 2026, and found the utilization satisfactory.
Deviation Analysis: Zero Variance Reported
The company confirms that there is no deviation or variation from the stated objects of the Issue in the utilization of the proceeds during the specified period.
The allocation table provided details the deployment across the original objects:
- Funding capital expenditure (Manufacturing Facilities): Original allocation was ₹49,973.16 lakh. Amount utilized till December 31, 2025, was ₹3,526.86 lakh. Status: No Deviation.
- Pursuing inorganic initiatives: Original allocation was ₹25,026.84 lakh. Amount utilized till December 31, 2025, was ₹25,026.84 lakh. Status: No Deviation.
- General corporate purposes (GCP): Original allocation was ₹23,534.37 lakh. Amount utilized till December 31, 2025, was ₹18,877.46 lakh. Status: No Deviation.
The total amount utilized across these purposes up to the reporting date was ₹47,431.17 lakh (net of issue expenses).
Clarification on Issue Expenses
The documentation noted a minor reconciliation regarding issue expenses. While estimated expenses were ₹1500 Lakhs, the actual expenses incurred were ₹1,465.61 lakh. The resulting surplus of ₹34.39 lakh from these expenses was appropriately added to the General Corporate Purposes (GCP) fund, leading to a revised GCP cost of ₹23,534.37 lakh.
Following this adjustment, the total unutilized balance of ₹98,534.37 Lakhs has been duly transferred to the Monitoring Account as required.
Source: BSE
