Other Private Equity/Strategic Investments
Medical devices seller Biorad Medisys in talks to raise Rs.400-Cr ahead of IPO
Pune-based medical devices manufacturer Biorad Medisys is in the process of raising approximately INR 400 crore in a funding round. The company has appointed Grant Thornton to act as the advisor for this transaction.Founded in 2000 by Suchitra Hegde and Jitendra Hegde, the company manufactures medical devices across orthopaedics, urology, and gastroenterology. Biorad plans to use the new funds to support its expansion. The company operates manufacturing facilities in Pune and Bengaluru and has initiated plans for a new facility in Shirwal.Biorad is also preparing for an initial public offering (IPO), for which it has engaged CLSA India, ICICI Securities, and Nuvama as advisors. The private funding round is expected to value the firm at INR 10,000 crore, providing a benchmark for the public listing, through which the company aims to raise at least INR 1,500 crore.
Between Mar 2016 and May 2024, Biorad Medisys had attracted about $55 million from Kotak Alternate and InvAscent.For FY25, Biorad Medisys had reported about INR 517 crore in Operating Income and about INR 16 crore in PAT.
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