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Fortis Healthcare to raise $33mln in pre-IPO placement

Written by: Staff

New Delhi, Dec 5 (UNI) Fortis Healthcare Ltd today said it plans to raise 33 million dollar in pre-initial public offer for which it has signed definitive agreements with Quantum (M) Ltd and Blue Ridge Ltd.

The company will issue a maximum of 5.96 million equity shares to each of Quantum and Blue Ridge at a price equal to the IPO price.

The equity shares to be issued to Quantum and Blue Ridge shall be subject to lock-in after the IPO, as per SEBI regulations.

Fortis had filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) to enter the capital market with its IPO of 56.6 million equity shares through the 100 per cent book-building process.

''We are overwhelmed at the response and the keen interest shown in the pre-IPO offer. This investment benchmarks an encouraging value range for our company,'' Fortis Healthcare and Escorts Heart Managing Director Shivinder Mohan Singh said.


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