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Fortis Healthcare rises on promoter stake sale reports

The promoters currently hold 81.48% stake in the company, are likely to sell 16.5% stake in their hospitals chain via OFS and private placement route.

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Fortis Healthcare is trading higher by 4% at Rs 118 on the NSE on reports that the promoters may divest their holding in the company to meet the Sebi's deadline for listed companies to have at least 25% of equity held by non-promoters before June 2013.

promoters - - hold 81.48% stake in the company, are likely to sell 16.5% stake in their hospitals chain via Offer for Sale (OFS) and private placement route, according to media reports.

On November 27, 2012, the board of directors of the company had approved the constitution of a committee of the board called “Issue Committee” to explore various methods of raise funds.

The stock opened at Rs 116 and has seen a combined 628,371 shares changing hands on the counter so far on both the exchanges.

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