Kotak fund to invest Rs 1,000 crore in diagnostics chain Neuberg

CHENNAI: Kotak Pre-IPO Opportunities Fund is in talks with Neuberg Diagnostics, one of India's leading diagnostics chains, to invest around Rs 1,000 crore and pick up a minority equity stake.

Talks are in an advanced stage between the Kotak fund and Neuberg on the investment through which the former is expected to pick up about 15% stake in the latter, sources privy to the development told TOI. According to sources, the investment is expected to value the chain at Rs 6,000-7,000 crore. Funds raised from Kotak will be used by Neuberg for inorganic expansion and technology upgradation.

Neuberg Diagnostics' CMD G S K Velu declined to comment on the development, and messages sent to Kotak Pre-IPO Opportunities Fund's MD Srinivasan Subramanian did not elicit any response.