Fortis Healthcare files DRHP with Sebi

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Fortis Healthcare files DRHP with Sebi

Fortis Healthcare files DRHP with Sebi

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Fortis Healthcare Limited, which believes that it is one of the largest private healthcare companies in India, based on the number of hospital beds according to information provided by CRIS-INFAC's report published in 2005, and promoted by the promoters of Ranbaxy Laboratories Limited, has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India on September 29^th, 2006 with its proposal to enter the capital market with its initial public offering of equity shares.

The company proposes to offer 56,666,633 equity shares of Rs.10 each for cash at a premium to be decided through the 100% book-building process to be listed on the Bombay Stock Exchange and the National Stock Exchange.

Fortis Healthcare Limited also proposes to allot 500,000 equity shares to eligible employees of the company in the firm allotment portion.

Of the net offer to the public, at least 60% of the offering will be allocated to Qualified Institutional Buyers on a proportionate basis, 5% of which will be available for allotment to mutual funds registered with the Securities and Exchange Board of India. Not less than 10% of the offering will be available for allocation to non-institutional investors and not less than 30% of the offering will be available for allocation to retail investors on a proportionate basis.

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