New Delhi: Fortis Healthcare Ltd on Wednesday said its shareholders have approved increasing the shareholding limit for foreign institutional investors (FII) to up to 74% from 24% at present.

The company had sought approval from the shareholders through a special resolution to increase the FII limit through a postal ballot. In a filing to the BSE, Fortis Healthcare said the proposal was approved with 99.998% of the votes polled. The stakeholders of the company have given “approval for increase in the shareholding limit for registered foreign institutional investors (FIIs) from 24% up to an aggregate limit of 74% of the paid up equity share capital of the company", the filing said.

Fortis Healthcare had earlier got shareholders’ nod to raise up to Rs5,000 crore. “The board of the company had approved the enabling fund raising options up to Rs5,000 crore including but not limited to qualified institutional placement, foreign currency convertible bonds or any other method... ," Fortis Healthcare had said in a earlier BSE filing.

Shares of Fortis Healthcare on Wednesday closed at Rs166.95 per scrip on the BSE, up 1.15% from its previous close.

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