Fortis Healthcare says Promoters are not in talks with PE firms for stake sale

Fortis Healthcare Ltd stated that the company is still evaluating the best possible way to raise the fund and no firm decision in this regard has been approved by the Board till date.

The company also denied that Promoters are in talks with PE firms for stake sale in Fortis Healthcare Ltd.

Earlier report says that Malvinder and Shivinder Singh have been in talks with private equity firms for the past year to sell their 34% stake in Fortis to pay down debt, Fortis president Daljit Singh said.

Fortis Healthcare Limited is a leading integrated healthcare delivery service provider in India. The healthcare verticals of the company primarily comprise hospitals, diagnostics and day care specialty facilities. Currently, the company operates its healthcare delivery services in India, Dubai, Mauritius and Sri Lanka with 45 healthcare facilities (including projects under development), approximately 10,000 potential beds and 314 diagnostic centres.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.