Fortis Healthcare to raise Rs 1,550-crore via NCDs

Fortis Healthcare informed that its board has approved the issuance of non-convertible debentures (NCDs) worth Rs 1,550 crore through a private placement.

The company will issue listed, senior, secured, rated, redeemable NCDs having a face value of Rs 1 lakh, aggregating up to Rs 1550 crore to the eligible investors including but not limited to identified anchor investors.

These anchor investors include DBS Bank, The Hongkong and Shanghai Banking Corporation, through its GIFT FPI (HSBC), Citicorp Investment Bank (Singapore), Mizuho Bank, Singapore and such other foreign portfolio investors qualified during the bidding process on such terms and conditions as set out in the transaction documents to be entered into for the issue.

These debentures have a tenure of 5 years and are proposed to be listed on BSE.

Fortis Healthcare is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates 27 healthcare facilities (including JVs and O&M facilities). The company's network comprises approximately 4,500 operational beds.

The companys consolidated net profit jumped 40.32% to Rs 174 crore on 12.19% rise in net sales to Rs 1,859 crore in Q1 FY25 over Q1 FY24.

The scrip rose 1.69% end at Rs 607.15 on Wednesday, 9 October 2024.

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