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SRL to launch IPO in a couple of months

Super Religare Laboratoris on Friday said it expects to come up with its initial public offer in the next couple of months.

twitter-logoPTI | January 14, 2011 | Updated 19:31 IST

Super Religare Laboratoris (SRL) today said it expects to come up with its initial public offer (IPO) in the next couple of months.

The company also said it plans to invest Rs 100 crore in 2011 to add another 40 new laboratories.

"We are preparing for it (IPO). It should happen in the next couple of months," Super Religare Laboratories Chief Executive Officer Dr Sanjeev K Chaudhury said.
 
The company will be filling the necessary documents with market regulator SEBI soon, he said but declined to disclose how much fund the firm is planning to raise through its IPO.

Besides, the SRL is planning to invest Rs 100 crore on expanding its presence across the country.

"We should end the calendar year 2011 at 220 laboratories and would spend nearly Rs 100 crore on this," Chaudhury said.

The company at present operates 180 laboratories across the country. Last year it had acquired Piramal Healthcare's diagnostic chain for Rs 600 crore, making it the country?s largest diagnostic player.

It is now looking to expand internationally and has recently opened a laboratory in Nepal.

"We are also looking at rest of SAARC (South Asian Association of Regional Cooperation) countries and Africa for expansion," he said.

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