Lord’s Mark Industries aims to go public in 2024
· It plans to raise up to Rs. 500 crores and invest the proceeds in its subsidiaries to develop medtech products, production of innovative diagnostic solutions, expansion of its pathology lab pan India and exports of its medical diagnostic products and machines.
Lord’s Mark Industries, a diversified business group, has announced that it 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. IDBI Capital and Mirae Asset are the merchant bankersfor the listing.
Lord’s Mark Industriestoinvest the proceedsin its subsidiariesto develop medtech products,production of innovative diagnostic solutions, expansion of its pathology lab pan India and exports of its medical diagnostic products and machines.
Commenting on the plan to go public, SachidanandUpadhyay, 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 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.’’
Lord’s Mark Industries reported revenue from operations at Rs.301 crores in FY23, registering a 41.31 percent growth from the revenue reported in FY22 which stood at Rs. 213 crores.
Incorporated in 1998, Lord’s Mark Industries began its journey from paper industry to innovative Solar-LED, Medical Diagnostic, Hygiene. Lord’s Mark Industries is one of the industry leaders to have its own world class R&D facility and team for manufacturingmedical diagnostic and medtech products.
The company through its subsidiary has launched saliva-based technology for genome testingthrough itsbrandMyDNA. It has collaboratedwith Dozee, IIT Bombay, BARC and made them its R&D partnersto redesign medical infrastructure in India.
