Analysts feel Fortis Healthcare share holders are at a disadvantage and deal valuations had been short of expectations
In its investor presentation, IHH said it wanted to develop Fortis into a market leader.
Bhavdeep Singh, the CEO of Fortis Healthcare said that they haven't been able to focus on the business due to an internal issue, especially with regard to the promoters
In a statement, Fortis said under the accepted offer, IHH would infuse Rs 4,000 crore through subscription to the preferential allotment at a price of Rs 170 per share. The Malaysian firm will then make a mandatory open offer to public shareholders for 26 per cent of the outstanding shares post issuance.
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