Corporate Governance10 Aug 2026, 05:41 pm
Poly Medicure Ltd: QIP Fund Utilization Confirmed with No Deviation
AI Summary
Poly Medicure Ltd has confirmed that there is no deviation or variation in the utilization of funds raised through a Qualified Institutions Placement (QIP). The company raised approximately ₹10,000 crore by allotting equity shares at ₹1880 per share. The Audit Committee reviewed the fund utilization for the quarter ended June 30, 2026, and found it to be in line with the objects stated in the placement document. A minor surplus of ₹34.39 lakh from issue expenses was adjusted towards the GCP object, revising its allocation. The total funds raised were ₹99,999.98 lakh, with issue expenses amounting to ₹1,465.61 lakh.
Key Highlights
- Poly Medicure confirms no deviation in QIP fund utilization.
- Approximately ₹10,000 crore raised via QIP at ₹1880 per share.
- Audit Committee reviewed and approved fund utilization.
- Minor surplus from issue expenses adjusted to GCP allocation.
- Funds utilized as per placement document objectives.
Price Impact
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