Fortis Healthcare IPO opens on April 16

Chandigarh, Apr 12 (UNI) Fortis Healthcare Ltd is entering the capital market on April 16 with an Initial Public Offering (IPO) of 45,996,439 equity shares of Rs 10 each for cash at a premium to be decided through a 100 per cent book building process.

The Company proposes to allot 242,476 equity shares to eligible employees in the firm allotment portion. The Price Band for the issue has been fixed between Rs 92 and Rs 110 per equity share, Mr Shivinder Mohan Singh, Managing Director Fortis, said in a press conference here today.

The issue which opens for subscription on April 16 will close on April 20. The net issue is expected to constitute 20.19 per cent of the post-issue paid-up equity share capital of the company. The shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Of Net Issue to the public, at least 60 per cent shall be alloted to Qualified Institutional Buyers (QIB). Within the QIB portion, 5 per cent will be available for allocation to mutual funds only. Not less than 10 per cent of the Net issue will be available for allocation to non-institutional bidders and the balance of not less than 30 per cent of the net issue will be available for allocation to retail investors, in each case on a proportionate basis, Mr Mohan Singh said.

The book Running Lead Managers to the issue are J M Morgan Stanley Private Ltd, Citigroup Global Markets India Pvt Ltd and Kotak Mahindra Capital Company Ltd, he said.

UNI