SRL Diagnostic will soon be vertically demerged from its parent company
After the successful listing of Dr Lal Pathlabs in December 2015 and recently Thyrocare’s success in the stock market has enthused the promoter company of SRL Diagnostics to contemplate about a public issue for the company.
Reportedly, SRL Diagnostic will soon be vertically demerged from its parent company, Fortis Healthcare. According to industry analysts, his will help SRL Diagnostics to get listed on the Indian bourses. The move is also aimed at giving an exit route to the private equity investors, who together own 34 per cent stake in the company. To give exit to some of the PE firms – International Finance Corporation, NYLIM Jacob Ballas and Avigo Capital Partners, SRL Diagnostics care had appointed Moelis & Co as advisor to facilitate the transaction in 2015. The announcement is expected soon as per some industry sources. Some of the leading PE firms such as Baring Asia, Capital International and Bain Capital were in serious discussion to acquire stakes from the existing investors and even to increase it to majority.
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