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

Fortis Healthcare, which has already got nod from its shareholders to raise up to Rs 5,000 crore, today said its board has not taken any decision over the mode, amid speculation that its promoters Singh brothers are in talks to sell 26 per cent stake to a PE firm.
"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 and recommended the same to shareholders for their approval," Fortis Healthcare said in a BSE filing.
"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."

The said proposal was approved by the shareholders of the company at the AGM held on September 27, it added.
The company was clarifying to the BSE on reports that the promoters are in talks with private equity firm TPG Capital to offload around 26 per cent stake.
The stock of Fortis Healthcare was trading 2.76 per cent up at Rs 174.90 on BSE.