BAJAJ BROKING
Poly Medicure launched a ₹1,000 crore QIP with shares priced at ₹1,850-₹1,880, leading to a 5.54% equity dilution. The Poly Medicure share price closed at ₹2,120, up 8.61%, reflecting strong investor confidence despite the discount.
Poly Medicure Limited, a leading medical consumables company, has launched a Qualified Institutional Placement (QIP) to raise ₹1,000 crore. The move is part of the company’s strategy to fund new manufacturing facilities, pursue inorganic growth opportunities, and address general corporate expenses.
The QIP offers shares within an indicative price range of ₹1,850 to ₹1,880 each. This pricing represents a discount of approximately 11.6% compared to Poly Medicure’s share price of ₹2,120 on August 19. The QIP is expected to result in an equity dilution of 5.54% relative to the pre-issue outstanding capital.
The capital raised through this QIP will be primarily allocated towards capital expenditure for establishing new manufacturing units. Additionally, Poly Medicure plans to use the funds to explore inorganic growth opportunities, potentially through acquisitions or strategic partnerships, and for general corporate purposes.
The QIP includes a promoter lock-up period of 90 days following the closing date, which is standard in such placements to prevent any immediate sell-off by promoters. IIFL Securities Limited and SBI Capital Markets Limited have been appointed as the Book Running Lead Managers (BRLMs) for this QIP, overseeing the entire process.
On the day of the QIP announcement, the Poly Medicure share price surged by ₹168.05, or 8.61%, closing at ₹2,120 on the NSE. Despite the QIP’s discount, the share price performance indicates strong investor confidence in the company’s growth prospects.
Over the past 12 months, Poly Medicure shares have delivered an impressive return of 48.37%.
Poly Medicure's ₹1,000 crore QIP is a strategic move to strengthen its manufacturing capacity and pursue growth opportunities. Despite the discount offered in the QIP, the strong upward movement in the Poly Medicure share price reflects investor optimism about the company's plans.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Share Market Today | Indian Markets Eye Flat to Positive Opening
15 Oct, 2024 | 4 Min. read
JSW Infra Wins Bid for New Port in Maharashtra
15 Oct, 2024 | 2 Min. read
Maruti Suzuki Unveils New Baleno Regal Edition
15 Oct, 2024 | 2 Min. read
Sterling & Wilson Wins ₹823cr Order, Q2 Boost
15 Oct, 2024 | 2 Min. read
J Kumar Infra Secures ₹298 Crore Pune Order
15 Oct, 2024 | 2 Min. read
Commodities Market Today | Oil Drops on OPEC Outlook, Metals Also Fall
15 Oct, 2024 | 1 Min. read
Gold Rate Today | Gold Drops 0.3%, Silver Falls 0.8% in Market
15 Oct, 2024 | 2 Min. read
HDFC Life Q2 FY’2024-25 Results
15 Oct, 2024 | 3 Min. read
HAL Elevated To Maharatna Status For Greater Autonomy
14 Oct, 2024 | 2 Min. read
Oil Prices Dip As China Falls Short On Stimulus, Israel-Iran Tensions Rise
14 Oct, 2024 | 2 Min. read
JSW Energy Inks Deal For 1,500 MW Pumped Hydro Storage
14 Oct, 2024 | 2 Min. read
CCPA Directs Ola To Allow Refunds Via Bank Or Coupon
14 Oct, 2024 | 2 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading