Why The Indian Medical Device Industry Beckons Investors outlookindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from outlookindia.com Daily Mail and Mail on Sunday newspapers.
The pandemic and its ravaging resurgence this year has underscored the imminent need to expand and bolster our country’s healthcare set-up. While at one level, physical infrastructure, manpower in the form of doctors and paramedics.
Shares of Poly Medicure hit a new high of Rs 804 after rallying 11 per cent on the BSE in intra-day trade on Tuesday. With today’s gain, the stock of the medical equipment company has surged 53 per cent over its qualified institutional placement (QIP) price of Rs 524 per share. Last month, on February 19, Poly Medicure had raised Rs 400 crore by allotting 7.63 million equity shares of the company to eligible qualified institutional buyers (QIB) at the issue price of Rs 524 per share. Foreign portfolio investors (FPIs) Smallcap World Fund Inc and Lighthouse India III Equity Investors Limited had bought more than 1 per cent stake each in the company. UTI – Healthcare Fund had also purchased a 1 per cent stake, the shareholding pattern filed by the company post the QIP issue shows.