Business group Lord’s Mark Industries said on Tuesday it is planning to raise up to Rs 500 crore through a public listing in the first half of 2024.
The funds, the company said, will be directed towards the development of medtech products, the production of innovative diagnostic solutions, the expansion of its pan-India pathology lab, and the exports of medical diagnostic products and machines within its subsidiaries.
In FY23, Lord’s Mark Industries reported revenue from operations of Rs 301 crore, marking a significant 41.31% growth compared to the previous fiscal year's revenue of Rs 213 crore.
“Our major business unit, Diagnostic-Medtech, and innovative Solar-LED division have been breaking new ground with innovation and a solution-oriented approach. Our subsidiaries, Lord’s Automative, Lord’s Mark Biotech, Lord’s Mark Microbiotech and Lord’s Mark Insurance Broking Services, have plans to further deepen our market penetration, and the listing will fuel our further growth," Sachidanand Upadhyay, Managing Director, Lord's Mark Industries Pvt. Ltd., said
The company, in collaboration with Dozee, IIT Bombay, and BARC, has launched saliva-based technology for genome testing under its brand MyDNA. These partnerships, the company claimed, signify a commitment to redesigning medical infrastructure in India through research and development.
Established in 1998, the company has evolved from the paper industry to focus on innovative ventures in solar-LED, medical diagnostics, and hygiene. Lord’s Mark Industries claims to have a world-class R&D facility and team dedicated to manufacturing medical diagnostic and medtech products. IDBI Capital and Mirae Asset have been appointed as the merchant bankers for the upcoming public listing.
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