Shares of Fortis Healthcare rose 4 percent intraday on Thursday. The company is expected to announce demerger details of SRL Diagnostics into a separate entity on August 19. Analysts feel the demerger may be done in two ways. First option is to demerge SRL Diagnotics from Fortis Healthcare and list it on exchanges as a seperate entity. Second option is to carve out SRL from Fortis and merge it with some other listed entity in other group company. The most important factor to watch out will be swap ratio.
Macquarie says that the merger will help unlock Rs 60 per share value for Fortis shareholders.
As reported earlier by CNBC-TV18 in July, valuation of SRL Diagnostics is estimated to be around Rs 6,000 crore.
When CNBC-TV18 had contacted the company, it said that Fortis Healthcare was evaluating demerger of its diagnostics business to unlock value and plans to present demerger proposal before the board once its analysis is done.
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