Fortis considers raising up to Rs 1,000 cr

Hospital chain Fortis Healthcare today said its board will meet on February 10 to consider raising of funds up to Rs 1,000 crore by issuing securities.

"The board of directors of the company will meet on February 10, to consider raising funds through issue of securities, aggregating up to Rs 1,000 crore," Fortis Healthcare said in a filing to the Bombay Stock Exchange.

Shares of Fortis Healthcare were trading down at Rs 138.80 on BSE. The company did not disclose purpose of fund raising.

Earlier, the company had said it would float a subsidiary 'Fortis Hospitals' that would look after the operations of 10 Wockhardt hospitals it had acquired last year.

It had also said that the proposed subsidiary would aggressively scout for acquisitions within and outside the country.