Fortis Healthcare stake sale: Munjal-Burman seek level playing field

Hero Enterprise has criticised the Fortis Healthcare board’s latest decision and has sought a level playing field for all the bidders.

The board will meet on May 10 to select an investor, and the deadline for submitting bids has been extended to May 1. Fortis also said TPG-backed Manipal Hospitals would have a chance to revise its offer till May 6, based on bids received on May 1. This is according to the ‘obligations’ towards the Manipal-TPG consortium, Fortis said. 

Hero Enterprise-Burman family office, which sought to invest Rs15 billion in the hospital chain, has objected to the decision.

“We