bullish
Poly Medicure (PLM IN): Placement to Fund Capex and M&A Initiatives Amid Favorable Demand Backdrop
235 Views28 Aug 2024 01:25
SUMMARY
- Poly Medicure (PLM IN) raised INR10B through QIP and allotted ~5M equity shares to eligible institutional buyers. Lighthouse India Fund IV AIF has been issued 20.5% of the QIP shares.
- The company intends to use the proceeds to fund capex and inorganic initiatives. The company is setting up three new plants, to expand offerings in high-value therapeutic areas.
- Poly Medicure intends to acquire businesses that offer similar products, which will help the company to expand product portfolio and increase reach in various global markets.
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