Reserve Bank of India (RBI) has allowed foreign investors to buy more shares in Fortis Healthcare as the company’s board has hiked their investment limit to 74 per cent. Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) investment limit under Portfolio Investment Scheme (PIS) in the company has increased from 24% to 74% of its paid up capital.
Fortis Healthcare has passed resolutions at its board of directors level and general body as required under FEMA 1999 and foreign investment under PIS in Indian companies.
Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care specialty and hospitals, with a healthcare network spanning 9 countries.