Poly Medicure hits fresh high; stock zooms 53% over QIP price

Ace investor Ashish Kacholia held 1.75 million equity shares, or a 1.83 per cent stake, in Poly Medicure as of February 19, 2021

Shares of Poly Medicure hit a new high of Rs 804 after rallying 11 per cent on the BSE in intra-day trade on Tuesday. With today’s gain, the stock of the medical equipment company has surged 53 per cent over its qualified institutional placement (QIP) price of Rs 524 per share.

Last month, on February 19, Poly Medicure had raised Rs 400 crore by allotting 7.63 million equity shares of the company to eligible qualified institutional buyers (QIB) at the issue price of Rs 524 per share.

Foreign portfolio investors (FPIs) Smallcap World Fund Inc and Lighthouse India III Equity