New Delhi, May 22 -- Mumbai: Dialysis chain NephroPlus has engaged with bankers for a planned initial public offering to raise $200-250 million to fund expansion, two people familiar with the matter toldMint.

Backed by Investcorp and Quadria Capital, the company will file its draft papers with the regulator over the next three months, with the listing likely by next year, one person said. The person said the IPO will have a fresh capital raise and an offer by existing investors looking to sell a part of their stake.

"NephroPlus has engaged with ICICI Securities, IIFL Capital Services, Nomura and Ambit Capital to help with the issue," the second person said.

NephroPlus and the investment banks did not respond toMint's requests for comme...