New Delhi, July 7 -- Diagnostics chain operator Neuberg Diagnostics is gearing up for a public market listing, and medical device maker Biorad Medisys is in talks for a private round and is considering a public issue too, according to two separate media reports.

Meanwhile, K Raheja has reportedly delayed its listing plans after feedback from bankers.

Neuberg Diagnostics

Chennai-based diagnostics company Neuberg Diagnostics is planning to raise about Rs 3,500-4,000 crore (around $378-420 million) through an initial public offering (IPO) in FY28 between April and September, according to an interview given to The Economic Times with the company's founder and chairman GSK Velu.

Neuberg aims to raise Rs 500 crore in a pre-IPO funding round over the next three to six months to finance four to five acquisitions. Velu stated in the ET report that this is part of its pan-India expansion strategy.

Neuberg may invest Rs 700-1,000 crore through fresh capital, internal accruals and debt to fund its growth, the ET report said.

Prior to the IPO, Neuberg may acquire assets in the range of Rs 700 crore to Rs 1,000 crore across acquisitions and growth initiatives.

Neuberg recently acquired a controlling stake in Mumbai-based diagnostics chain operator NM Medical. The deal size was valued in the range of Rs 800-850 crore, VCCircle reported on Monday.

Biorad Medisys

Medical device maker Biorad Medisys is raising about Rs 400 crore (around $42 million) in a private funding round and is mulling a public listing, according to a Mint report.

Biorad is seeking to raise at least Rs 1,500 crore through an IPO at a Rs 12,000 crore valuation, the report said. The private deal is likely to value the company at about Rs 10,000 crore, the report added.

The company has appointed Grant Thornton as the transaction advisor, and has engaged CLSA India, ICICI Securities and Nuvama as advisors to help with the IPO, the Mint report said.

Biorad had delayed its plans for an initial public offering earlier this year to focus on growth initiatives, VCCircle reported at the time.

K Raheja

Real estate developer K Raheja Corp has delayed its plans for an IPO after feedback from investment bankers, according to a Bloomberg report.

The Mumbai-based developer had been exploring a listing that could have raised as much as $700 million (around Rs 6,667 crore). However, Bloomberg reported, citing sources, that the company decided to postpone the listing by at least a year.

This comes after discussions on the timing and valuation of a potential share sale. The company now intends to revisit the plan once it achieves greater scale, potentially allowing it to pursue a larger offering and command a higher valuation, Bloomberg said.

K Raheja Group has a diversified portfolio spanning commercial real estate, residential projects, retail and hospitality. The group operates luxury hotels through listed Chalet Hotels, owns Inorbit malls across four cities, has residential developments in five cities and controls department store chain Shoppers Stop Ltd.

Published by HT Digital Content Services with permission from VC Circle.