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BSR to use funds for expansion. Photo: Mint (Mint)
BSR to use funds for expansion. Photo: Mint
(Mint)

BSR to raise `150 crore via PE funding

Bhilai Scan and Research to raise funds by selling stake in the company to private investors

Mumbai: Chhattisgarh-based Bhilai Scan and Research Pvt. Ltd (BSR) is looking to raise about 150 crore by selling an undisclosed minority stake in the company to private investors.

BSR, which operates about 20 diagnostic centres in central and eastern India such as Bhilai, Raipur, Nagpur and Kolkata, will use the money to expand by setting up diagnostics facilities in hospitals as well as standalone centres and by participating in government projects, the company said.

“By 2017, we plan to have about 70 centres with a total revenue target of 300 crore," said M.K. Khanduja, chairman and managing director. By the end of this fiscal year, BSR plans to add nine centres.

It has mandated Edelweiss Financial Services Ltd to find a private equity investor.

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