Fortis Healthcare gets SEBI approval for rights issue

Fortis Healthcare gets SEBI approval for rights issue; rights issue likely to open by September-end

Fortis Healthcare gets SEBI approval for rights issue. The company says rights issue likely to open by September-end.

Fortis Healthcare Ltd has informed BSE that SEBI has, while granting its concurrence for the updated Letter of Offer filed on September 14, 2009, advised that there shall be no separate series of Detachable Warrants.

Accordingly, the Board of Directors of the Company has by way of a resolution passed by circulation, effected from September 22, 2009, amended the terms of the proposed Rights Issue as advised and also approved the amended Letter of Offer to be filed with the Stock Exchanges. Hence, the revised ratio for Issue of Detachable Warrants shall be one Detachable Warrant for every one Equity Share allotted in the Rights Issue.

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