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Poly Medicure closes QIP issue on 18 February 2021

Capital Market 

To issue 76.33 lakh equity shares issue price of Rs 524 per share

Poly Medicure announced that the QIP Committee at its meeting held on 18 February 2021 passed the following resolutions -

a. approved closure of the QIP today, i.e., 18 February 2021;

b. approved the issue price for 76,33,587 Equity Shares to be allotted to eligible qualified institutional buyers at a price of Rs 524 per Equity Share, including a premium of Rs 519 per Equity Share, which is at a discount of Rs 26.79 ( 4.86% to the floor price of Rs 550.79 per Equity Share), as permitted in terms of Regulation 176(I) of Chapter VI of the SEBI ICDR Regulations.

c. approved and finalized the confirmation of allocation note to be sent to the eligible qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the Issue.

The QIP was opened on 15 February 2021.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, February 19 2021. 09:19 IST