SRL Diagnostics kickstarts IPO prep to raise Rs2,000 crore

February 16, 2023

SRL Diagnostics, a subsidiary of listed parent Fortis Healthcare which is backed by Malaysia’s IHH, and its private equity investors, have initiated primary conversations with investment bankers to rope in counsels as the establishment is assessing an IPO via which it may look to raise around Rs2,000 crore, multiple assiduity sources with knowledge of the matter told Moneycontrol.

According to its website, SRL Diagnostics is India’s largest chain of individual laboratories by geographic presence and the only lab in India with a pan-India presence. also, it’s the second largest diagnostics chain in India in terms of profit after Dr Lal Pathlabs.

” A clutch of investment banks have made pitches for the SRL Diagnostics IPO accreditation. A call is likely to be taken soon regarding the named bankers,” said one of the persons over.

An alternate person told Moneycontrol that the proposed table was likely to substantially correspond of an OFS or offer for trade element. No final call had been taken on the size of the IPO and the timing, but according to early suggestions, the plan is to mop up around Rs2,000 crore, he added.

Two other persons verified to Money control that investment bankers had lately made donations for the IPO and according to them, the process was being driven by the private equity investors of SRL Diagnostics.

About SRL Diagnostics

SRL Diagnostics has the largest network of labs and the only lab to have a pan-India presence

Instituted in 1995, SRL is India’s largest chain of diagnostic laboratories by geographic presence and the only lab in India with a pan-India presence. Our network of labs and patient service centres can be found in 34 states and union territories. Our network consists of 400+ laboratories, 2500+ patient service centres and 5000+ institutional touch points across the country. SRL also has labs in Dubai, Afghanistan and Nepal.


With 46 NABL and 1 CAP accredited lab across our country-wide network, the SRL group has built a strong legacy of quality and has earned the trust of patients, doctors and hospitals. The NABL Accreditation (National Accreditation Board for Testing & Calibration) is the only laboratory accreditation constituted to labs by the Department of Science & Technology run by the Government of India. SRL has two global reference laboratories in Mumbai and Gurugram and three regional reference laboratories located in Bangalore, Kolkata and Chennai.

SRL Diagnostics is one of the leading diagnostic chains in India, providing quality diagnostics service via an efficient network of 400+ labs and 1500+ customer touch points spread across 600+ Cities, 30 States and Union Territories. Rooted in our 25-year legacy of Accuracy, Transparency, Empathy and Innovation, we take pride in helping our customers on their path to better health through accurate diagnostics. The company has the largest number of NABL accredited labs in the country, serving close to 13 million customers and conducting more than 30 million tests annually.

SRL has two global reference labs in its network – Mumbai and Delhi/ NCR and 2 Regional Reference labs in Bangalore and Kolkata. SRL employs more than 6,000 people and comprises doctors, PhDs, scientists, and technologists, striving every day to deliver solutions that help make people healthier. SRL Diagnostics is at the forefront of diagnostics technology and expertise servicing customers through a physical network of labs coupled with digital capabilities and home collection facilities. The company caters to international markets like South Asia, Africa, Dubai, and other parts of the Middle East.

Mission & Vision

To contribute to the well-being of the communities we serve, by enabling medical professionals in reaching the right diagnoses through our scientific expertise, cutting edge technology coupled with people prowess and by creating opportunities for every individual to manage their own health, through our high-quality services driven by innovation and compassionate care.

To be the most trusted and dynamic leader in diagnostic industry.