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Industrial Products India, Industrial Manufacturers & Suppliers
 




 
   
 
 
 

Fortis to raise up to $ 43.5 millio

Fortis to raise up to $ 43.5 million from FCCBs, share sale

Fortis Healthcare today said it plans to raise up to $43.5 million (over Rs. 255 crore) through various instruments, including issue of Foreign Currency Convertible Bonds (FCCBs) in Singapore. "...the issue committee duly constituted by the board of directors of the company has approved the issue of FCCBs up to $30 million, to be listed on Singapore Exchange Securities Trading Ltd, and has decided to launch the issue," Fortis Healthcare Ltd said in a BSE filing. The conversion price in respect of the issue of the FCCBs, is Rs. 99.09 per equity share and the 'relevant date' for this purpose is July 23, 2013, it added. Besides, the company said its board has approved to raise $13.5 million by issue of 88.55 lakh shares to Standard Chartered Pvt Equity (Mauritius) III Ltd on a preferential basis. "The preferential allotment of equity shares is subject to execution of necessary agreements and receipt of approvals and consents as may be required," it added. The healthcare major said an extra-ordinary general meeting of the shareholders of the company will be held on August 22, 2013, for approving the above preferential allotment of shares to Standard Chartered Pvt Equity (Mauritius) III Ltd. Shares of Fortis Healthcare were trading at Rs. 98.70 apiece on the BSE in late afternoon trade, down 0.75 per cent from their previous close.

 
     
 
   
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