Hot Pursuit     09-Mar-24
Poly Medicure Board OKs to raise upto Rs 800 cr
Poly Medicure announced that its board has approved to raise funds aggregating up to Rs 800 crore through various modes.
The company will raise funds by way of raising of debts, issuance of any instruments or securities through private placement, preferential issue, rights issue, qualified institutions placement or such other methods in one or more tranches.

The board has also formed a committee to identify the modes of fund raising and after receipt of recommendation from the committee, the same shall be considered by the Board of Directors.

Poly Medicure exports plastic medical disposables/surgical devices. It manufactures and supplies approximately 100 types of disposable medical devices in the product verticals of infusion therapy, anesthesia, urology, gastroenterology, blood management and blood collection, surgery and wound drainage, dialysis and central venous access catheters.

The company’s consolidated net profit jumped 30.01% to Rs 65.02 crore on 19.22% increase in revenue from operations to Rs 339.60 crore in Q3 FY24 over Q3 FY23.

The share price fell 1.08% to end at Rs 1,567.20 on Thursday, 7 March 2024.

Previous News
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