MUMBAI: Ranbaxy promoter group firm Fortis Healthcare Ltd today made an open offer to buy an additional 20 per cent stake in Malar Hospitals following its decision to acquire a majority stake in the company.
Fortis informed the Bombay Stock Exchange the offer is for acquisition of up to 37.18 lakh equity shares of Rs 10 each of Malar Hospitals from its existing shareholders. The shares would be bought at a price of Rs 30 apeice. The open offer begins on October 29 and closes on November 17.
International Hospital Ltd, Oscar Investments Ltd (acquirers), Fortis Healthcare Ltd and Fortis Healthcare Holdings Ltd (persons acting in concert) made the open offer.
The offer was made as per SEBI regulations on takeovers. The company last week agreed to acquire 28 per cent stake of the promoters of Malar and another 25 per cent through preferential allotment.
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