Fortis Healthcare files draft prospectus with SEBI

Mumbai, Oct 3 (UNI) Fortis Healthcare Ltd has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) with its proposal to enter the capital market with its initial public offering (IPO) of equity shares.

The company has proposed to offer 56,666,633 equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book-building process to be listed on the Bombay Stock Exchange and the National Stock Exchange, said a Fortis release here today.

Fortis Healthcare Limited has also proposed to allot 500,000 equity shares to eligible employees of the company in the firm allotment portion.

Of the net offer to the public, at least 60 per cent of the offering will be allocated to Qualified Institutional Buyers on a proportionate basis, 5 per cent of which will be available for allotment to mutual funds registered with the SEBI. Not less than 10 per cent of the offering would be available for allocation to non-institutional investors and not less than 30 per cent of the offering will be available for allocation to retail in vestors on aproportionate basis.

Fortis Healthcare currently has a network of 12 hospitals primarily in North India and 15 satellite and heart command centers in hospitals across the country and one heart command centre in Afghanistan.

The Book Running Lead Managers to the issue are J M Morgan Stanley, Citigroup Global Markets India and Kotak Mahindra Capital Company.

UNI SN SSS AW1919