IHH Healthcare Berhad has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its open offers for Fortis Healthcare Limited and Fortis Malar Hospitals Limited. The approval, detailed in a letter dated October 1, 2025, allows IHH to move forward with acquiring additional shares in both entities. The initial announcement regarding these offers was made on December 17, 2018.
Open Offer Approval
IHH Healthcare Berhad (IHH) has announced that it has received the green light from the Securities and Exchange Board of India (SEBI) to proceed with the mandatory open offers for Fortis Healthcare Limited and Fortis Malar Hospitals Limited. The approval was formalized via a letter from SEBI, dated October 1, 2025.
Details of the Transaction
The proposed transaction involves a subscription of 235,294,117 new equity shares in Fortis Healthcare, along with mandatory open offers to acquire additional shares. These offers include acquiring up to 197,025,660 shares in Fortis Healthcare, representing 26.10% of the expanded voting share capital, and up to 4,894,308 shares in Fortis Malar Hospitals, representing 26.11% of its voting share capital.
Background of the Offer
The initial announcement regarding these transactions was made on December 17, 2018. IHH has since been working towards obtaining all necessary regulatory approvals. The latest announcement confirms a significant step forward in the process.
Source: BSE
