Lord's Mark Industries set to go public in 2024, aims to raise Rs 500 cr

Lord’s Mark Industries, a prominent diversified business group, has unveiled its plans to go public in the first half of 2024, aiming to raise up to Rs 500 crore. The company intends to invest the proceeds in its subsidiaries, focusing on the development of medtech products, diagnostic solutions, the nationwide expansion of its pathology labs, and the export of medical diagnostic products and machines.

IDBI Capital and Mirae Asset have been appointed as the merchant bankers for the listing.

Commenting on this, Sachidanand Upadhyay, managing director, Lord's Mark Industries stated, "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.’’

In the fiscal year 2023, Lord’s Mark Industries reported its revenue from operations reaching Rs 301 crore, reflecting a growth of 41.31 per cent in comparison to the preceding fiscal year, during which the revenue amounted to Rs 213 crore.

The company has launched saliva-based technology for genome testing through its brand MyDNA. Lord’s Mark Industries has collaborated with Dozee, IIT Bombay, BARC, and made them its R&D partners to redesign medical infrastructure in India.