Mumbai, July 7 -- Biorad Medisys, a medical devices manufacturer, is in the process of raising about Rs.400 crore in a private funding round to support its expansion plans and has appointed Grant Thornton as the advisor for the transaction, according to two people familiar with the matter.

The company is also mulling a public listing and is closely monitoring market conditions before it begins preparations. It has engaged CLSA India, ICICI Securities and Nuvama as advisors to help with the IPO, both people said on the condition of anonymity.

"The private deal is likely to value the company at about Rs.10,000 crore and will set the benchmark for its planned public listing," one of the people cited above said.

"The company is seeking to ...