Shardul Amarchand Mangaldas & Co. advises Poly Medicure Limited on its Qualified Institutions Placement of Equity Shares

August 29, 2024

Shardul Amarchand Mangaldas & Co. advised Poly Medicure Limited (“Company”) on its qualified institutions placement of equity shares of face value of INR 5 each (“Equity Shares”) aggregating to approximately INR 1,000 crore (“Issue”). The deal was closed on August 22, 2024.

Poly Medicure Limited is among the top five companies in the medical devices industry in India, in terms of operating income and stands fifth in terms of profit after tax, in Fiscal 2023. The Company intends to utilise the funds raised through the Issue for funding the capital expenditure to be incurred for setting up of manufacturing facilities, for pursuing inorganic initiatives and for general corporate purposes.

The transaction team was led by Prashant Gupta, Partner, National Practice Head – Capital Markets and Devi Prasad Patel, Partner, with assistance from Sridutt Mishra, Associate; Megha Mehta, Associate; Purva Mishra, Associate; and Kuldeep Bishnoi, Associate.

SBI Capital Markets Limited and IIFL Securities Limited acted as the Lead Managers on the transaction.