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Fortis Healthcare gains as its arm plans to divest stake in Quality Healthcare for $355 million

Fortis Healthcare Ltd. | Hospital & Healthcare Services | Healthcare | BSE: 532843 | NSE: FORTIS

15 Oct 2013 Evaluate

Fortis Healthcare is currently trading at Rs. 110.60, up by 6.25 points or 5.99% from its previous closing of Rs. 104.35 on the BSE.

The scrip opened at Rs. 108.90 and has touched a high and low of Rs. 111.00 and Rs. 108.00 respectively. So far 55,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 119.50 on 17-Dec-2012 and a 52 week low of Rs. 84.00 on 27-Jun-2013.

Last one week high and low of the scrip stood at Rs. 107.45 and Rs. 97.10 respectively. The current market cap of the company is Rs. 5,118.00 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 9.20% and 15.80% respectively.

Fortis Healthcare’s subsidiary - Fortis Healthcare International, has decided to sell its 100% stake in Altai Investments, the holding company for Quality Healthcare (QH), Hong Kong, to Bupa, for $355 million. The offer price is reflective of the value and efficiencies added through improved operations and the introduction of new and specialized medical centres while QH has been a part of the Fortis group.

The company has taken this step in line with its strategic decision to intensify its focus on core hospital and diagnostic business in India and to reduce its debt. JP Morgan and Religare Capital Markets acted as financial advisors to Fortis for this transaction and the deal is expected to be completed in October 2013.

Fortis has demonstrated remarkable fiscal prudence and slashed its debt in the preceding 12 months. Pursuant to the above transaction, the company’s net debt equity position is expected to be less than 0.3x down from 1.6x as on September 30, 2012.

Fortis Healthcare Share Price

885.30 -4.45 (-0.50%)

20-Apr-2026 09:59 View Price Chart

Peers

Company Name	CMP
Apollo Hospital Ent.	7637.00
Max Healthcare Inst	1008.00
Narayana Hrudayalay	1807.30
Aster DM Healthcare	683.50
Global Health	1081.20
View more..

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Fortis Healthcare gains as its arm plans to divest stake in Quality Healthcare for $355 million

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