Lord’s Mark Industries Plans To Raise Rs 500 Cr From Public Listing In 2024
Lord’s Mark Industries will invest the proceeds in its subsidiaries to develop medtech products, produce innovative diagnostic solutions, expand its pathology lab pan India and export its medical diagnostic products and machines
Lord’s Mark Industries, a medical technology firm is aiming to hit the capital markets and go for public listing in the first half of 2024 to raise up to Rs 500 crores. The company's maiden initial public offering (IPO) will be assisted by IDBI Capital and Mirae Asset as the merchant bankers for the listing, the company informed in a press statement on Tuesday.
Lord’s Mark Industries will invest the proceeds in its subsidiaries to develop medtech products, produce innovative diagnostic solutions, expand its pathology lab pan India and export its medical diagnostic products and machines.
Sachidanand Upadhyay, Managing Director, Lord's Mark Industries Pvt. Ltd. said, "Our major business unit – Diagnostic-Medtech and innovative Solar-LED division has been breaking new ground with innovation and solution-oriented approach. Our subsidiaries, Lord’s Automotive, 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.’’
Lord’s Mark Industries reported revenue from operations at Rs. 301 crores in FY23, registering a 41.31 per cent growth from the revenue reported in FY22 which stood at Rs. 213 crores.
Incorporated in 1998, Lord’s Mark Industries began its journey from the paper industry to innovative Solar-LED, Medical Diagnostic, and Hygiene.
The company through its subsidiary has launched saliva-based technology for genome testing through its brand MyDNA. It has collaborated with Dozee, IIT Bombay, BARC and made them its R&D partners to redesign medical infrastructure in India.