| Company proposes to raise Rs. 35 cr. as private equity |
CHENNAI: Metropolis Health Services (I) Ltd, which has a network of diagnostic laboratories in India and abroad, plans to invest Rs. 100 crore during the current year for its expansion programmes, according to G. S. K. Velu, Managing Director.
With 18 laboratories in India, three in Dubai and one in Sri Lanka, Mumbai-headquartered Metropolis plans to set up two laboratories in South Africa and one each in Thailand and Kuwait by the end of the second quarter of the year. Besides, it is in the process of finalising labs in Kolkata and Hyderabad, Mr. Velu told The Hindu.
Of the total investment, Rs. 85 crore would be used for either acquiring units or setting up green field projects within the country and abroad.
The balance amount would be used for clinical trials. The company proposed to raise Rs. 35 crore as private equity from ICICI and the balance through debts.
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