You are here: Home » Companies » News
Business Standard

No decision yet on ways to raise up to Rs 5,000 cr: Fortis

The shares of Fortis Healthcare closed at Rs 197.80 per scrip on BSE

Press Trust of India  |  New Delhi 

Fortis Healthcare
Fortis: 

Healthcare, which has already got shareholders' nod to raise up to Rs 5,000 crore on Thursday said its board has not taken any decision over the mode, amid speculation that may pick up majority stake in the company.

"The board of the company had approved the enabling fund raising options up to Rs 5,000 crore including but not limited to qualified institutional placement, foreign currency convertible bonds or any other method...," Healthcare said in a filing.

The said proposal was duly approved by the of the company at the Annual General Meeting held on September 27, 2016, it added.

"The company is still evaluating the best possible way to raise the funds and no firm decision in this regard has been approved by the board till date," Healthcare said.

The company was clarifying to the on a report that a team of is in India to discuss deal with the promoters. The report, quoting sources, said that IHH may buy majority stake that would trigger open offer and that deal may value at $2 billion.

The shares of Healthcare on Thursday closed at Rs 197.80 per scrip on BSE, up steep 5.75 per cent from its previous close.

RECOMMENDED FOR YOU