UK-based private equity fund Trinity Capital has increased its stake in Ranbaxy group-promoted Fortis Healthcare Limited to 4% from 1%, through an additional investment of Rs. 87 crores in 6 mn equity shares of Fortis Healthcare. Earlier, in January 2007, Trinity had made an initial investment of Rs. 28 crores for 2 mn equity shares of Fortis Healthcare. The private placements have been in the run up to the initial public offer, to be announced by Fortis Healthcare, during the first quarter of the financial year 2007-08.
Fortis Healthcare currently has a network of 11 hospitals, primarily in North India, and 16 satellite and heart command centers (including one heart command center in Afghanistan). The hospitals include multi specialty hospitals as well as super-specialty centers, providing tertiary and quaternary healthcare to patients in areas such as cardiac care, orthopedics, neurosciences, oncology, renal care, gastroenterology and mother and child care.
The book running lead managers to the issue are JM Morgan Stanley, Citigroup Global Markets and Kotak Mahindra Capital.
Read the article in Business Standard.
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