Fortis to raise Rs1,250 cr for growth

Fortis to raise Rs1,250 cr for growth
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First Published: Wed, Feb 10 2010. 11 24 PM IST
Updated: Wed, Feb 10 2010. 11 24 PM IST
Mumbai: Hospital chain Fortis Healthcare Ltd on Wednesday informed stock exchanges that it will raise funds of up to Rs1,250 crore by way of equity or debt for investments in future growth opportunities. The company’s board approved the proposal in its Wednesday meeting, and the firm will seek shareholders’ approval through a postal ballot later.
Fortis, currently the second largest hospital chain in the country by bed capacity, after Hyderabad-based Apollo Hospitals Enterprise Ltd, had in August acquired 10 hospitals of Mumbai-based Wockhardt Ltd.
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First Published: Wed, Feb 10 2010. 11 24 PM IST