Neuberg Diagnostics' IPO aims to raise Rs 1,500 crore

5 Dec 2022 , 11:40 AM

Neuberg Diagnostics Pvt. Ltd. intends to raise Rs 1,500 crores through an IPO to expand its activities in India and overseas.

The diagnostic chain has appointed Kotak Investment Advisors Ltd. and ICICI Securities Ltd. as investment bankers to handle the IPO. The diagnostics chain is headed by healthcare veteran G.S.K. Velu.

With more than 150 laboratories and more than 2,000 collection centers, Neuberg Diagnostics is one of the top pathology laboratory chain organizations in India. The United States, South Africa, and the United Arab Emirates all have it as well.

The business has been preparing for an IPO for some time as it looks to grow its activities. Velu, chairman of Neuberg Diagnostics, has stated in an interview that the company intends to go public by the end of the current fiscal year or in the first quarter of FY24.