No decision yet on ways to raise up to Rs 5,000 crore: Fortis on IHH bid News
New Delhi: Fortis Healthcare, which has already got shareholders nod to raise up to Rs 5,000 crore, 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...," Fortis Healthcare said in a BSE filing.
The said proposal proposal was duly approved by the shareholders of the company at the Annual General Meeting held on September 27, 2016, it added.
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 USD 2 billion.