ALSO READFortis Healthcare: The faint-hearted can wait for more clarity Fortis deal heats up with IHH making a better offer; stock jumps 4% Fortis in talks for fresh capital of Rs 50 bn as part of Singhs' stake sale In battle for control of Fortis Healthcare, it is advantage shareholders Fortis promoter holding dips to 8.85% on invoking 132 mn pledged shares
The company also shared a letter sent to the board by the Malaysian healthcare major, which offered up to Rs 160 per share of Fortis.
In a regulatory filing, Fortis Healthcare said, "The board of directors of the company have received an unsolicited non-binding expression of interest from IHH Healthcare Berhad for possible due diligence and participation with the Company."
The offer from IHH Healthcare comes a day after Sunil Kant Munjal-led Hero Enterprise Investment Office and Burman Family Office offered to invest Rs 12.5 billion in the healthcare chain through preferential allotment route at as per SEBI ICDR guidelines for preferential issues or Rs 156 per share whichever is higher.
Already, Manipal Health Enterprises has raised its offer for Fortis Healthcare Ltd at Rs 155 per share by valuing the hospital business higher at Rs 60.61 billion.