Poly Medicure Limited has confirmed that all proceeds from its Qualified Institutions Placement (QIP) were utilized in accordance with the objects stated in the placement document for the quarter ended March 31, 2026. The company successfully raised approximately Rs 99,999.98 lakh. Following a review by the Audit Committee, the company reported no deviations or variations in the usage of these funds for its manufacturing and corporate initiatives.
Fund Utilization Overview
Poly Medicure Limited has successfully completed its review regarding the utilization of funds raised through its QIP, which saw the allotment of 53,19,148 equity shares at a price of Rs 1,880 per share. As of the quarter ending March 31, 2026, the company has maintained strict adherence to its stated objects, confirming that there were no deviations or variations in the deployment of capital.
Breakdown of Financial Allocation
The company provided a clear summary of how the net proceeds have been distributed across its strategic objectives:
- Manufacturing Expansion: Rs 6,198.32 lakh has been utilized for capital expenditure related to setting up new manufacturing facilities.
- Inorganic Initiatives: Rs 25,026.84 lakh has been deployed to support the company’s inorganic growth strategies.
- General Corporate Purposes: Rs 18,877.46 lakh was utilized, adjusted to reflect a surplus from issue-related expenses.
Strategic Adjustments
The total actual proceeds amounted to approximately Rs 99,999.98 lakh. Due to issue-related expenses coming in lower than the initial estimate—totalling Rs 1,465.61 lakh instead of Rs 1,500 lakh—the resulting surplus of Rs 34.39 lakh was reallocated to General Corporate Purposes. This adjustment brings the total allocated amount for corporate purposes to Rs 23,534.37 lakh, ensuring full transparency and efficient capital management as confirmed by the company’s Audit Committee.
Source: BSE
