Poly Medicure Ltd. opened its qualified institutional placement of equity shares on Monday to raise Rs 1,000 crore at a floor price of Rs 1,880.68 apiece.
The issue price for the QIP will be determined by the medical device manufacturer in consultation with the-booking running lead managers appointed for the same. The company may at its discretion offer a discount of not more than 5% on the floor price calculated for the issue, according to an exchange filing.
Earlier, a public shareholder haddivested 2.37% stake in Poly Medicure for Rs 443.8 crore through an open market transaction. Mumbai-based Lighthouse Advisors India, through its affiliate—Lighthouse India III Equity Investors—sold 22.76 lakh shares at Rs 1,950.03 apiece, according to bulk deal data on the NSE.
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Poly Medicure's stock closed 8.91% higher at Rs 2,126.35 apiece on the BSE, compared with a 0.02% decline in the benchmark Sensex.
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