Biorad Medisys, a medical devices manufacturer backed by Kotak, is in talks to raise around ₹400 crore in a private funding round ahead of a potential initial public offering (IPO). The company is targeting a valuation of ₹10,000 crore as it prepares for a public listing estimated at ₹1,500 crore, according to livemint.com.
The pre-IPO funding round is intended to support Biorad Medisys's expansion plans as it positions itself for the public markets. The company has engaged with investment banks and financial advisors to structure the round and finalize the terms. The ₹400 crore infusion is expected to bolster the company’s balance sheet and fund growth initiatives before the IPO.
This funding effort comes amid a growing interest in the medical devices sector in India, which has seen increased investor appetite due to rising healthcare demand and government support. Biorad Medisys’s targeted ₹10,000 crore valuation places it among the larger players preparing to enter public markets, with the planned ₹1,500 crore IPO reflecting confidence in its growth trajectory.
The company’s next major milestone will be the completion of the pre-IPO round, which will set the stage for the IPO launch. Market participants will closely watch the final valuation and subscription levels when Biorad Medisys files its draft red herring prospectus with the Securities and Exchange Board of India.