Fortis Healthcare board approves increase in FII limit up to 74%

Fortis Healthcare on Friday announced that it has received its board’s approval to enhance the ceiling limit on total holdings of FII/FPI.

It also added that under the Portfolio Investment Scheme the ceiling limit has been enhanced up to 74% of the fully paid-up capital, of the SEBI approved sub-accounts of FIIs, FPIs, QFIs, Non-Resident Indians (NRIs) and Person of Indian Origin (PIO).

Prior to this, Reserve Bank of India on Thursday said that FII/FPIs will not be able to invest further in Claris Lifesciences and Fortis Healthcare as they have already touched the investment limits.

Fortis Healthcare Limited had reached the overall limit of 24% of its paid-up capital, so the RBI had directed that the Foreign Institutional Investors (FIIs) / Foreign Portfolio Investors (FPIs) to stop the purchase of any more shares.

Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care speciality and hospitals, with a healthcare network spanning 9 countries.