Poly Medicure Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
POLYMED · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Poly Medicure has filed its quarterly statement confirming no deviation or variation in the use of funds raised through its Qualified Institutions Placement (QIP) conducted in August 2024. The QIP raised approximately Rs 1,000 crore (Rs 99,999.98 lakh) by issuing 53.19 lakh equity shares at Rs 1,880 per share. As of June 30, 2025, the company has utilized Rs 12,772.45 lakh across three stated objects: Rs 2,032.34 lakh for capital expenditure on new manufacturing facilities, Rs 5,026.84 lakh for inorganic growth initiatives, and Rs 10,740.11 lakh for general corporate purposes. Actual QIP issue expenses came in lower than estimated at Rs 1,465.61 lakh, with the Rs 34.39 lakh surplus added to the general corporate purposes bucket, revising it to Rs 23,534.37 lakh. CRISIL Ratings served as the monitoring agency and the Audit Committee reviewed and approved the statement on August 8, 2025 with no adverse comments.
Positive for shareholders — the filing confirms funds are being deployed exactly as promised to investors during the QIP, with full transparency and no misuse. The slightly lower issue expenses are a minor efficiency gain, but the large unutilized balance sitting in the monitoring account means investors should track upcoming capex and acquisition announcements to see whether the company can deploy the remaining ~Rs 985 crore effectively.