Poly Medicure Ltd. saw its shares rise nearly 2% after the company successfully raised ₹1,000 crore through a Qualified Institutional Placement (QIP). The institutional share sale was completed on Thursday, with the board approving the allotment of 53.19 lakh equity shares to eligible Qualified Institutional Buyers (QIBs).
The company set the QIP issue price at ₹1,880 per share, which reflects a 12.8% discount to Thursday’s closing price. The QIP was launched on August 19, attracting significant interest from major funds.
Lighthouse India Fund IV AIF acquired 20.5% of the total shares offered in the QIP. Other notable investors include SBI Mutual Funds, Nomura Funds, ICICI Prudential, Kotak Mahindra Life Insurance, Quant Mutual Fund, and Max Life Insurance.
With this successful share sale, Poly Medicure’s total paid-up share capital has increased from ₹47.98 crore to ₹50.64 crore, raising the total number of shares from 9.59 crore to 10.12 crore.
