Fortis Healthcare set for further fund raising

Written by: Samyuktha
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Mumbai, Jun 9: The Board of Directors of Fortis Healthcare Limited on Wednesday, Jun 9 approved raising additional funds by way of issuance of further securities aggregating upto Rs 2,750 crore.

Asia"s largest private healthcare provider braces itself for raising of further capital and or or equity linked securities to enable the Company to raise capital at an appropriate time.

The specific instrument, size and timing of issue of securities will be decided by the Board based on the advice of merchant or investment bankers, book runners and lead managers, Fortis said in a statement issued on Wednesday, Jun 9.

The Board of Directors also approved an increase in the borrowing limit of the company to Rs 6,000 crore and creation of mortgage, charge or hypothecation on the movable or immovable properties of the company, equivalent to limits available as may be available to the Company from time to time, the statement added.

The board's approval is subject to requisite approvals.

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