Fortis Healthcare is currently trading at Rs. 101.05, up by 1.00 points or 1.00% from its previous closing of Rs. 100.05 on the BSE.
The scrip opened at Rs. 102.00 and has touched a high and low of Rs. 102.00 and Rs. 100.05 respectively. So far 49106 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 171.50 on 27-Jul-2011 and a 52 week low of Rs. 81.00 on 28-Dec-2011.
Last one week high and low of the scrip stood at Rs. 105.45 and Rs. 99.50 respectively. The current market cap of the company is Rs. 4082.19 crore.
The promoters holding in the company stood at 81.48% while Institutions and Non-Institutions held 6.13% and 12.39% respectively.
Fortis Healthcare India, which runs the country’s second largest hospital chain, is in talks with private equity firms Carlyle Group and TPG Capital India to sell a 15-20% holding of the company. The company aims to raise around $250 million through a combination of equity and convertible debt instruments from the PE firms, in a deal which is expected to be concluded over next two weeks.
The company is mulling to execute a two-stage deal-wherein, the promoters will first divest about 6.5% stake through the stock auction route, which will be later followed by the private placement of 15-20% stake to PE firms at a negotiated price.
The move of selling stake through a stock auction would help will help the billionaire Singh brothers, in reducing their stake in the company to levels prescribed by the stock market regulator for listed firms, and also provide Fortis with money to suspend some of its debt. The price at which Fortis Healthcare will divest its stake to PE firms is expected to be in range from Rs 110 to Rs 120, a share, at a premium to the current price of Rs 100.05 (Close price as on March 28, 2012).
Fortis Healthcare (FHL) has alliance with international partners such as Aetna, Bupa, Cigna, GMC Services, HTH Worldwide, Vanbreda and World Access. These alliance helps the company provide quality, cost effective healthcare, medical expertise, and related health services.
| Company Name | CMP |
|---|---|
| Apollo Hospital Ent. | 7663.00 |
| Max Healthcare Inst | 1005.15 |
| Narayana Hrudayalay | 1813.10 |
| Aster DM Healthcare | 684.00 |
| Global Health | 1110.00 |
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