Fortis Healthcare Raises Funds From StanChart PE
Fortis Healthcare has raised R37.7 Cr through a preferential allotment of 3.7 million shares to Standard Chartered Private Equity Mauritius III Ltd, BSE filing stated. With this, Fortis has cumulatively raised R1040 Cr this year through equity and equity-linked instruments.
The cumulative investment by SCPE in the company is estimated at about R250 Cr.
SCPE entities acting in concert with SCPE, had previously invested in the IPP of the company and have also recently intimated to the stock exchanges that they are the key investor in the public issue of FCCBs that the company listed on the Singapore Stock Exchange in July 2013.
Other investor - The International Finance Corporation has so far invested almost R570 Cr in the company through the IPP in May, a preferential allotment of equity shares and subscription to the FCCB issue in June.
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Fortis Healthcare, which is turning its focus for future growth to the Indian healthcare market, is looking at a potential bed capacity of around 10,000 beds from its currently operational capacity of around 4,000 beds, in future. The company is expecting its business portfolio to continue with 80% domestic business and 20% international business.
Recently, it announced that one of its step down subsidiaries based out of Singapore, Fortis Healthcare International Pte, has completed divestment of its entire holding in its Vietnamese subsidiary Fortis Hoan My Medical Corporation, VOF PE Holding2 and Swindon to Viva Holdings Vietnam (Pte) for an aggregate consideration of $80 Mn.
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