Shares of Poly Medicure Ltd. increased by about 2% following the company’s successful ₹1,000 crore QIP (qualified institutional placement). On Thursday, the board approved the allotment of 53.19 lakh equity shares to qualified institutional buyers (QIBs), completing the institutional share sale.
The company set the QIP issue price at ₹1,880 per share, representing a 12.8% discount to Thursday’s closing price. The QIP was launched on August 19 and drew strong interest from large funds.
Of the shares offered in the QIP, Lighthouse India Fund IV AIF acquired 20.5% of the total. SBI Mutual Funds, Nomura Funds, ICICI Prudential, Kotak Mahindra Life Insurance, Quant Mutual Fund and Max Life Insurance are a few other well-known investors.
As of 12:52 pm, Poly Medicure shares were trading 1.97% higher at Rs 2,192.00 on the NSE.
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