Fortis Healthcare to Raise Rs 1,500 Cr via NCDs
Oct 09, 2024 16:29
Fortis Healthcare's board has approved raising up to Rs 1,500 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. The funds will be raised from various investors including DBS Bank Ltd, HSBC, and Citicorp Investment Bank.
New Delhi, Oct 9 (PTI) Fortis Healthcare Ltd on Wednesday said its board has approved raising of up to Rs 1,500 crore through issue of non-convertible debentures on a private placement basis.
The company's board of directors at its meeting held on October 9, 2024, considered and approved issue of non-convertible debentures (NCDs) on a private placement basis to eligible investors, according to a regulatory filing.
In the filing, the healthcare company said that the eligible investors include but are not limited to identified anchor investors DBS Bank Ltd (DBS), The Hongkong and Shanghai Banking Corporation Ltd (HSBC), Citicorp Investment Bank (Singapore) Ltd., Mizuho Bank, Singapore and other foreign portfolio investors qualified during the bidding process.
The sum is planned to be raised through three series with DBS Bank Ltd as anchor investor for Series 1 for up to Rs 500 crore; HSBC through its GIFT FPI as anchor investor for Series 2 of up to Rs 500 crore; and Citicorp Investment Bank (Singapore) Ltd, Mizuho Bank, Singapore as anchor investors of Series 3 of Rs 500 crore.
The NCDs will have a tenure of 5 years from the date of allotment and are proposed to be listed on BSE, the company said.
Shares of Fortis Healthcare settled 1.73 per cent higher at Rs 607.40 per piece on the BSE.
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