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

The shares of Fortis Healthcare closed at Rs 197.80 per scrip on BSE

Press Trust of India  |  New Delhi 

Fortis Healthcare
Fortis: 

Fortis Healthcare, which has already got shareholders' nod to raise up to Rs 5,000 crore on Thursday said its board has not taken any decision over the mode, amid speculation that IHH Healthcare may pick up majority stake in the company.

"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...," said in a BSE filing.

The said proposal was duly approved by the shareholders of the company at the Annual General Meeting held on September 27, 2016, it added.

"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," said.

The company was clarifying to the BSE on a report that a team of IHH Healthcare is in India to discuss Fortis deal with the promoters. The report, quoting sources, said that IHH may buy majority stake that would trigger open offer and that deal may value Fortis at $2 billion.

The shares of on Thursday closed at Rs 197.80 per scrip on BSE, up steep 5.75 per cent from its previous close.

First Published: Thu, June 15 2017. 20:12 IST
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