Fortis Healthcare to Raise ₹1,500 Crore Via NCDs

Fortis Healthcare is set to raise ₹1,500 crore through non-convertible debentures (NCDs) on a private placement basis. The board approved this move during a meeting on October 9, 2024, aligning with key anchor investors like DBS Bank and HSBC. NCDs will be listed on BSE.

Fortis Healthcare Ltd has announced its decision to raise up to ₹1,500 crore through non-convertible debentures (NCDs) on a private placement basis, following a board meeting on October 9, 2024.

According to the regulatory filing, the healthcare provider plans to engage eligible investors, including major players like DBS Bank Ltd, HSBC, Citicorp Investment Bank (Singapore) Ltd, and Mizuho Bank, Singapore, as key contributors to this financial venture.

The initiative involves three series, with DBS Bank Ltd leading Series 1, HSBC anchoring Series 2, and Citicorp along with Mizuho Bank steering Series 3. These NCDs will be listed on the BSE with a tenure of five years.

(With inputs from agencies.)