Find enclosed the statement of Deviation & Variation for the Quarter ended on 31st March, 2026.
POLYMED · price
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Poly Medicure Limited has filed its quarterly statement of deviation for QIP proceeds for Q4 FY26 (quarter ended March 31, 2026). The company raised approximately Rs 99,999.98 lakh (~Rs 1,000 crore) through a QIP in August 2024, allotting 53,19,148 equity shares at Rs 1,880 per share (face value Rs 5 + premium Rs 1,875). The Audit Committee has reviewed the utilization and confirmed there is NO deviation or variation from the stated objects. Funds have been deployed across three purposes: capital expenditure for manufacturing facilities (Rs 6,198.32 lakh utilized of Rs 49,973.16 lakh allocated), inorganic initiatives (Rs 25,026.84 lakh fully utilized), and general corporate purposes (Rs 18,877.46 lakh utilized of Rs 23,534.37 lakh allocated). Total utilization stands at Rs 50,102.62 lakh out of Rs 98,534.37 lakh, with balance remaining. Issue expenses came in lower than estimated (Rs 1,465.61 lakh vs Rs 1,500 lakh budgeted), resulting in a surplus of Rs 34.39 lakh adjusted to GCP.
No deviation in QIP fund utilization is a positive signal — the company is on track with its stated objectives of capex for manufacturing expansion, inorganic growth, and general corporate purposes. The QIP was priced at a significant premium (Rs 1,880 vs face value Rs 5), indicating strong institutional demand.