Poly Medicure Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
POLYMED · price
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On the reaction day the stock moved 5.6 pts less than Nifty Smallcap 250 and 4.8 pts less than its Medical Equipment & Supplies peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Poly Medicure Limited raised approximately Rs 99,999.98 lakh (around Rs 1,000 crore) through a Qualified Institutions Placement (QIP) by allotting 53,19,148 equity shares at Rs 1,880 per share. The shares have a face value of Rs 5 with a premium of Rs 1,875. The QIP was completed in August 2024. The company reported no deviation or variation in the utilization of funds during the quarter ended March 31, 2026. Of the net proceeds of Rs 98,534.37 lakh, Rs 50,102.62 lakh has been utilized so far - Rs 6,198.32 lakh for capital expenditure on manufacturing facilities, Rs 25,026.84 lakh for inorganic initiatives, and Rs 18,877.46 lakh for general corporate purposes. A minor surplus of Rs 34.39 lakh from lower issue expenses was added to the GCP allocation.
The confirmation of no deviation in fund utilization provides assurance to shareholders that the company is deploying the Rs 1,000 crore QIP proceeds as committed. The fact that only about 51% of funds have been utilized by March 2026 suggests ongoing capital expenditure and acquisition activities lie ahead.