Last week, IHH offered Rs 160 per share for Fortis Healthcare, valuing the company at Rs 8,300 crore, compared to Manipal Group’s offer at Rs 155 per share and Hero Enterprise-Burman family’s combined offer at Rs 156 per share in the first of a two-stage offer.
Ranjan Pai, chairman, Manipal Group, said in an interview that over the next few weeks, he will reach out to investors to allay their concerns.
Post the transaction, Manipal will own 51% stake. The company has a share capital of Rs 250 crore. With this round, share capital will expand to Rs 350 crore.
This marks the investment debut of CDC Group and MEMG after they launched a Rs 500 cr fund for healthcare-focused investments beyond the conventional hospital services as reported by ET last week.
The deal was first reported by TOI in its July 22 edition last year.
The healthcare sector in India will grow to $158.2 billion in 2017 from $78.6 billion in 2012, a report has said. "The healthcare sector is growing at a 15% CAGR and jumped from $45 billion in 2008 to $78.6 billion in 2012 and expected to touch $158.2 billion by 2017," Equentis Capital said in its report.
Get updates on your preferred social platform
Follow us for the latest news, insider access to events and more.
