Fortis Healthcare back in limelight

Fortis Healthcare is back in the limelight after a short hiatus but the reason is same – stake sale though last time it was in SRL Diagnostics and this time it is the Singh brothers wanting to sell stake in Fortis Health itself.

There is unconfirmed news that Malvinder and Shivinder Singh are in talks with private equity group TPG Capital to lay off a significant minority stake in the company. Though there is no news of how much stake sale, the news is that it would be below 26% to avoid triggering off an open offer.

The news is also that if this does happen then its Singapore listed business would become a part of the Indian company, Fortis Healthcare.

The stock exchanges have not yet asked for any clarification from the company but the stock is celebrating this news – going up 4.5% to Rs.177 levels and remains firmly amongst the top five gainers on the BSE.