Neuberg Diagnostics plans to raise Rs1,500 crores through an initial public offering to expand its operations in India and abroad. It is led by  G.S.K Velu, and has hired Kotak Investment Advisors and ICICI Securities as investment bankers for managing the IPO according to the reports.

Neuberg Diagnostics is among India’s top pathology laboratory chains, with more than 150 laboratories and over 2,000 collection centres. It has a presence in South Africa, the US and the United Arab Emirates. It also plans to expand its operations and has also been planning an IPO.

The key segment targeted by new-age companies is preventive health, which is only 10% of the total market. Listed diagnostic companies also benefit from the shift from the unorganized to the organized sector. Also, consolidation continues, and companies are expanding their reach and regional presence through organic routes.

Neuberg also had made several acquisitions, including those of Bengaluru-based Anand Diagnostics, Ahmedabad-based Supratech Micropath, Pune-based AG Diagnostics, Chennai-based Ehrlich Lab and a few others. Its plans include expanding into India’s northern and eastern regions and overseas markets.