Munjals, Burmans extend bid validity for Fortis Healthcare till May 4

Last week, Sunil Munjal and the Burmans revised their offer of Rs 12.5 billion to Rs 15 billion

Sunil Munjal-backed Hero Enterprise and the Burman's of Dabur group have extended the validity of their revised Rs 15-billion offer for the Fortis Healthcare till May 4. 

The move comes in the backdrop of Fortis Healthcare Board’s decision to select new investors on Thursday. The Board has appointed an expert advisory committee headed by former PWC India Chief Executive Officer Deepak Kapoor to advise it on multiple offers.

Hero Enterprise and Burmans and Manipal-TPG combine have submitted binding bids, while three others including IHH, Fosun, and Radiant Life Care have sent non-binding offers to Fortis Healthcare.

On Monday, Fortis Healthcare