Lords Mark Industries aims to go public in 2024
The company plans to invest the proceeds in its subsidiaries to develop medtech products, produce innovative diagnostic solutions, and expand its pathology lab pan India.
Lord’s Mark Industries, a diversified business group, said on Tuesday, December 5, that it was planning to go public in the first half of 2024 through a reverse merger. A reverse merger is when an active private company takes control and merges with a dormant public company. Lord’s Mark Industries aims to raise up to Rs 500 crore via public listing. According to the company's release, IDBI Capital and Mirae Asset will be the merchant bankers for the listing.
The company plans to invest the proceeds in its subsidiaries to develop medtech products, produce innovative diagnostic solutions, and expand its pathology lab pan India.
Sachidanand Upadhyay, Managing Director, Lord's Mark Industries Pvt. Ltd., said that the company's subsidiaries—Lord's Automotive, Lord’s Mark Biotech, Lord’s Mark Microbiotech, and Lord’s Mark Insurance Broking Services—have plans to further deepen their market penetration, and the listing will fuel their further growth.
The company, through its subsidiary, had launched saliva-based technology for genome testing under the brand MyDNA. It has also collaborated with Dozee, IIT Bombay, and BARC and made them its R&D partners to redesign medical infrastructure in India.
The company reported revenue from operations at Rs 301 crore in FY23, registering a 41.31 per cent growth from the revenue reported in FY22, which stood at Rs 213 crore.
About Lord’s Mark Industries
Incorporated in 1998, Lord’s Mark Industries Private Ltd. (Lord’s) has set its foot in paper, LED, renewable energy, and medical diagnostic businesses. Lord’s and its subsidiaries have made a mark in electric vehicles, genome testing, the vitamin industry, and healthcare.
As per its official website, LIC, ONGC, Indian Army, State Bank of India, SAIL, REC, Indian Railways, India Post, Coal India, PEDA, and the Ministry of Defence are some of the clients of the company.
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