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Fortis Healthcare Ltd (FOHE.NS)

FOHE.NS on National Stock Exchange of India

150.15INR
17 Aug 2018
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Latest Key Developments (Source: Significant Developments)

Fortis Healthcare Says Have Initiated Legal Action For Recovery Of Inter Corporate Deposits
Wednesday, 1 Aug 2018 

Aug 1 (Reuters) - Fortis Healthcare Ltd says::OBJECTIONS WERE RAISED BY KEY MANAGEMENT PERSONNEL, INCLUDING CEO AND CFO, IN RELATION TO INTER CORPORATE DEPOSITS, BUT WERE OVERRULED BY ERSTWHILE EXECUTIVE CHAIRMAN.FORTIS HEALTHCARE SAYS HAVE INITIATED LEGAL ACTION FOR RECOVERY OF INTER CORPORATE DEPOSITS.FORTIS HEALTHCARE SAYS ALL RELEVANT INFORMATION PERTAINING TO TRANSACTIONS HAS BEEN SHARED WITH RELEVANT INVESTIGATING AUTHORITIES.  Full Article

IHH Seeks To Buy Fortis Shares At 170 Rupees Each In Open Offer
Monday, 16 Jul 2018 

July 16 (Reuters) - Fortis Healthcare Ltd ::IHH MAKES OPEN OFFER FOR 197.03 MLN SHARES OF FORTIS HEALTHCARE.IHH SEEKS TO BUY FORTIS SHARES AT 170 RUPEES EACH IN OPEN OFFER.IHH SAYS HSBC, HDFC BANK, CITIGROUP AND DEUTSCHE EQUITIES INDIA ARE MANAGERS TO OPEN OFFER.  Full Article

Fortis Healthcare Doesn't Think IHH Deal Will Change Co's Management Structure - Exec
Friday, 13 Jul 2018 

July 13 (Reuters) - Fortis Healthcare Ltd ::EXEC SAYS CO DOESN'T THINK IHH DEAL WILL CHANGE FORTIS MANAGEMENT STRUCTURE - CONF CALL.  Full Article

IHH Healthcare Says Will Hold Minimum Of 31.1 Pct & Maximum 57.1 Pct Interest In Fortis On Deal Completion
Friday, 13 Jul 2018 

July 13 (Reuters) - IHH Healthcare Bhd ::ON COMPLETION OF FORTIS DEAL, IHH WILL HOLD MINIMUM OF 31.1 PERCENT AND MAXIMUM OF 57.1 PERCENT INTEREST IN FORTIS HEALTHCARE.SAYS FORTIS OPEN OFFER EXPECTED TO OPEN IN AUGUST / SEPT 2018, SUBJECT TO COMPLETION OF INDIAN REGULATORY REVIEWS.  Full Article

Fortis Healthcare Approves Offer Of IHH Healthcare For Equity Infusion Of Rs 40 Bln
Friday, 13 Jul 2018 

July 13 (Reuters) - Fortis Healthcare Ltd ::RECEIVED TWO BINDING BIDS FROM THE TPG-MANIPAL CONSORTIUM AND IHH HEALTHCARE BERHAD.APPROVED OFFER OF IHH HEALTHCARE FOR EQUITY INFUSION OF RS. 4,000 CRORES AT RS. 170 PER EQUITY SHARE INTO CO BY A UNIT OF IHH.IHH'S UNIT UNDER OBLIGATION TO MAKE A MANDATORY OPEN OFFER OF RS 40 BILLION TO PUBLIC SHAREHOLDERS OF CO & FORTIS MALAR HOSPITALS.  Full Article

IHH Healthcare Revises Existing Proposal For Fortis
Tuesday, 3 Jul 2018 

July 3 (Reuters) - IHH Healthcare ::ISSUED A LETTER TO BOARD OF FORTIS SETTING OUT A BINDING OFFER, WHICH SUPERSEDES & REPLACES ENHANCED REVISED PROPOSAL.THE BINDING OFFER LETTER REPRESENTS IHH'S ONLY BINDING OFFER.IN EVENT IHH DOES NOT RECEIVE RESPONSE FROM FORTIS BY NO LATER THAN 5PM IST ON 16 JULY, BINDING OFFER SHALL BE DEEMED TO BE WITHDRAWN.  Full Article

Fortis Healthcare Says Non-Executive Independent Director Rohit Bhasin Resigns
Wednesday, 27 Jun 2018 

June 26 (Reuters) - Fortis Healthcare Ltd ::FORTIS HEALTHCARE ANNOUNCES OUTCOME OF THE ADJOURNED BOARD MEETING DATED JUNE 26, 2018.FORTIS HEALTHCARE - CONSIDERED UN-AUDITED FINANCIAL RESULTS OF THE CO FOR THE YEAR ENDED MARCH 31, 2018 AND FOR THE QUARTER ENDING MARCH 31, 2018.FORTIS HEALTHCARE- ROHIT BHASIN, NON-EXECUTIVE INDEPENDENT DIRECTOR TENDERED HIS RESIGNATION FROM THE DIRECTORSHIP OF THE COMPANY W.E.F. JUNE 26, 2018.FORTIS HEALTHCARE SAYS SUBMITTED THE INVESTIGATION REPORT WITH SECURITIES AND EXCHANGE BOARD OF INDIA AND SERIOUS FRAUD INVESTIGATION OFFICE.FORTIS HEALTHCARE SAYS COMPANY HAS INITIATED LEGAL ACTION FOR RECOVERY OF THESE OUTSTANDING INTER-CORPORATE DEPOSITS AND OTHER ADVANCES.FORTIS HEALTHCARE SAYS TAKING MEASURES TO RECOVER PAYMENTS MADE TO EXECUTIVE CHAIRMAN UNDER LETTER OF APPOINTMENT; TO RECOVER ALL CO ASSETS IN HIS POSSESSION.FORTIS HEALTHCARE SAYS WILL APPOINT AN EXTERNAL AGENCY OF REPUTE TO UNDERTAKE A SCRUTINY OF THE INTERNAL CONTROLS AND COMPLIANCE FRAMEWORK.FORTIS HEALTHCARE SAYS Q4 2018 REVENUE INR 1,086.4 CRORE VERSUS INR 1,123.4 CRORE LAST YEAR.FORTIS HEALTHCARE SAYS THE COMPANY HAD NET DEBT OF RS. 1,404 CR AND A NET DEBT TO EQUITY RATIO OF 0.26 TIMES AS ON 31 MARCH 2018.  Full Article

Fortis Healthcare Says NCLT Approves Withdrawal Of Scheme Of Amalgamation Among Co, Fortis Malar, SRL
Friday, 15 Jun 2018 

June 15 (Reuters) - Fortis Healthcare Ltd ::NCLT APPROVED WITHDRAWAL OF SCHEME OF AMALGAMATION AMONG CO, FORTIS MALAR HOSPITALS AND SRL LTD.  Full Article

Fortis Healthcare Invites Munjal-Burman, TPG-Manipal, IHH To Participate In Fresh Bidding
Tuesday, 29 May 2018 

May 29 (Reuters) - Fortis Healthcare Ltd ::INVITES INTERESTED PARTIES TO SUBMIT FRESH PROPOSALS IN RELATION TO BID PROCESS.DECIDED TO INVITE 3 OF BIDDERS NAMELY MUNJAL-BURMAN CONSORTIUM, TPG-MANIPAL CONSORTIUM, IHH HEALTHCARE TO PARTICIPATE IN PROCESS.OTHER INTERESTED PARTIES INVITED TO SUBMIT EXPRESSION OF INTEREST NO LATER THAN 5 P.M. IST ON 31ST MAY 2018.BIDDERS WILL BE PROVIDED 10 DAYS FOR FINANCIAL AND LEGAL DUE DILIGENCE.CO APPOINTED STANDARD CHARTERED BANK AND ARPWOOD CAPITAL AS FINANCIAL ADVISORS TO THE TRANSACTION.SAYS CO APPOINTED CYRIL AMARCHAND MANGALDAS AND VAISH ASSOCIATES AS LEGAL ADVISORS.BINDING BIDS TO BE SUBMITTED BY BIDDERS SHOULD MAKE MINIMUM INVESTMENT OF INR 15 BILLION INTO FHL BY WAY OF PREFERENTIAL ALLOTMENT.BINDING BIDS SHALL HAVE PLAN FOR FUNDING OF RHT HEALTH TRUST ACQUISITION, HAVING LONG STOP DATE OF SEPTEMBER 30.BINDING BIDS SHALL HAVE PLAN FOR PROVIDING EXIT TO PRIVATE EQUITY INVESTORS OF SRL.BINDING BIDS TO BE SUBMITTED BY BIDDERS SHALL INCLUDE PLANS FOR RETENTION OF CURRENT MANAGEMENT AND EMPLOYEES.BINDING BIDS TO INCLUDE SOURCES OF FUNDS TO FINANCE THE TRANSACTION, INCLUDING FIRM COMMITMENT LETTER FROM LENDERS.  Full Article

Fortis Healthcare Says Got No Communication From Market Regulator On Any Insider Trading Probe Or Regulatory Lapses
Wednesday, 23 May 2018 

May 23 (Reuters) - Fortis Healthcare Ltd ::SAYS RECEIVED NO COMMUNICATION FROM MARKET REGULATOR ON ANY INSIDER TRADING PROBE OR REGULATORY LAPSES.  Full Article