Fortis Healthcare Ltd. plans to raise around $100 million from International Finance Corporation (IFC) through a combination of straight equity and Foreign Currency Convertible Bonds (FCCBs), reports said.
Fortis plans to utilize to the funds for its expansion and partly for repayment of debt to reduce the overall company leverage.
According to IFC project document, Fortis proposes to substantially increase its bed capacity in India over the next 3-5 years in India, including in second and third tier cities and low income states in India.
Fortis Healthcare is a leading hospital operators in India, with 3,800 operational beds and total potential bed capacity of over 9,500 beds (existing capacity, potential expansion in existing facilities and new projects).
The hospital business is spread over, with 62 healthcare facilities with presence across 17 states and over 35 cities, while the diagnostics business is present in 450 cities across the country. Some of the projects are in various stages of development and implementation, said the document.
The Promoters, Malvinder Mohan Singh and Shivinder Mohan Singh, collectively own 81.5 percent of the company together with family and other entities as on December 31st, 2012. There are no other shareholders owning greater than one percent of the company as of December 2012 as per the Bombay Stock Exchange data.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.