Indian rival Manipal Health Enterprises Pvt Ltd had last month offered to buy the hospital business of Fortis, which is under investigation over financial fraud.
IHH, one of Asia's largest healthcare operators, offered to buy Fortis last week at a price that values the hospitals chain at about $1.3 billion -- higher than the roughly $1.2 billion valuation offer made by Manipal.
Some of Fortis's minority shareholders are dissatisfied with the Manipal offer, and it is unclear if the IHH price appeals to them.
Two Indian investors - Sunil Munjal's Hero Enterprise and the Burman Family Office -- offered last week to make an investment worth 12.5 billion rupees ($191.5 million) in Fortis.
Shares of Fortis fell about 2 percent on Monday after the announcement by IHH and ended 2.8 percent lower. IHH shares ended down 0.33 percent after trading was halted.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)