Poly Medicure Limited , a leading manufacturer of medical devices in India, has received approval from the National Company Law Tribunal (NCLT) for its ₹33.15 crore resolution plan to acquire Himalayan Mineral Waters Private Limited. This strategic move is set to expand Poly Medicure's manufacturing capabilities and create operational synergies.

Acquisition Details

The NCLT's Allahabad Bench approved Poly Medicure's resolution plan, as disclosed in a regulatory filing by the company. The acquisition will give Poly Medicure complete ownership of Himalayan Mineral Waters, adding valuable manufacturing assets to its portfolio.

Strategic Benefits

The acquisition is expected to bring synergies in several key areas:

• Operations
• Procurement
• Marketing
• Sales

These synergies are anticipated to strengthen Poly Medicure's position in the medical devices manufacturing sector.

About Himalayan Mineral Waters

Himalayan Mineral Waters Private Limited, incorporated on November 20, 1990, has its registered office in Roorkee, Uttarakhand. The company's key assets include:

1. A manufacturing facility built on a 2.72-hectare land parcel in SIDCUL, Haridwar, strategically located adjacent to Poly Medicure's existing manufacturing facility.
2. A 10.67-hectare land parcel in Bharuch, Gujarat.

Financial Overview

Himalayan Mineral Waters' recent financial performance shows:

Implementation Timeline

Poly Medicure plans to complete the acquisition within 30 days from the effective date as outlined in the Resolution Plan. The company has stated that all required approvals, including those from the NCLT and under the Companies Act, 2013, have been obtained.

Market Impact

This acquisition aligns with Poly Medicure's growth strategy, potentially enhancing its manufacturing capabilities and market presence in the medical devices sector. The strategic location of Himalayan Mineral Waters' manufacturing facility, adjacent to Poly Medicure's existing plant, is expected to create operational efficiencies.

As Poly Medicure continues to expand its footprint in the medical devices industry, this acquisition marks a significant step towards strengthening its manufacturing base and competitive position in the market.

Poly Medicure Limited , a leading medical equipment manufacturer, has reported no deviations in the utilization of funds raised through its Qualified Institutions Placement (QIP) for the quarter ended June 30, 2025. The company's Audit Committee reviewed the fund utilization at its meeting held on August 8, 2025, confirming adherence to the stated objectives in the placement document.

QIP Details and Fund Allocation

Poly Medicure had successfully raised Rs 99,999.98 lakh by allotting 53,19,148 equity shares to qualified institutional buyers at Rs 1,880.00 per share. The net proceeds, after accounting for issue expenses, amounted to Rs 98,534.37 lakh. These funds were earmarked for three primary purposes:

1. Funding capital expenditure for manufacturing facilities
2. Pursuing inorganic initiatives
3. General corporate purposes

Utilization Progress

As of June 30, 2025, the company has utilized Rs 12,772.45 lakh of the total funds raised. The breakdown of the utilization is as follows:

Monitoring and Transparency

CRISIL Ratings Limited, appointed as the monitoring agency, has overseen the fund utilization process. The company has maintained transparency by submitting regular reports and disclosures as per SEBI regulations.

Deployment of Unutilized Proceeds

The unutilized funds, amounting to Rs 85,761.92 lakh, have been strategically deployed to ensure optimal returns while maintaining liquidity:

• Rs 84,632.29 lakh invested in mutual funds
• Rs 800.00 lakh placed in fixed deposits with Bajaj Finance and HDFC Bank
• Rs 329.63 lakh maintained in the monitoring account

Management Commentary

Avinash Chandra, Company Secretary of Poly Medicure Limited, stated, "We are pleased to report that the utilization of QIP funds is progressing as per our planned objectives. The company remains committed to transparent and efficient use of these funds to drive our growth initiatives and enhance shareholder value."

Upcoming Investor Meetings

In related news, Poly Medicure has announced a series of upcoming investor meetings:

• August 14, 2025: Physical meeting with New Vernon Capital at the company's registered office
• August 19, 2025: Virtual call with Motilal Oswal Asset Management
• August 20, 2025: Physical meeting with Aberdeen Investments SG at the company's registered office

These meetings underscore the company's commitment to maintaining open lines of communication with its investors and analysts.