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Vasan Eye Care to come out with IPO next year

Press Trust of India  |  Chennai 

today said that it plans to come out with an initial public offer (IPO) next year.

The company aims to raise Rs 800-1,000 crore through the as part of its expansion plans, Chairman Dr A M Arun told reporters here.

The city-headquartered company plans to invest Rs 450 crore for various expansion plans over a period of next 18 months. Besides, the company would also raise funds through internal accruals and partly by debt, Arun said but declined to elaborate.

The expansion plan include increasing the number of eye care centres from the present 75 to 125 over the next 18 months across the country, he said.

Arun was here to be a part of the TiECON 2010 annual conference.

First Published: Wed, November 24 2010. 20:08 IST