Lord’s Mark Industries aims to go public in 2024

Lord’s Mark Industries announced plans to go for public listing in the first half of 2024. The company is aiming to raise Rs 500 crores.

The company looks to invest the proceedings to 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”, the company said in its press release.

IDBI Capital and Mirae Asset are the merchant bankers for the listing.

Sachidanand Upadhyay, Managing Director of Lord’s Mark Industries 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 a revenue of Rs 301 crore in FY23. This was an increase of 41.31 percent from the previous year when it had revenue of Rs 213 crore.

Lord’s Mark Industries was incorporated in 1998. The company operates in three areas which include diagnostic and medtech, renewable energy and paper. Moneycontrol