Fortis Healthcare Limited approves IPO of Agilus

The Board of directors of Fortis Healthcare Limited (in its capacity as the holding company and the promoter) and board of directors of Agilus, in their respective meetings held today i.e. August 4, 2023 have considered and granted its confirmation / approval for Agilus to initiate an initial public offer process, by way of an offer of sale of such number of equity shares as may be offered by certain existing and eligible shareholders of Agilus in the IPO, in accordance with applicable laws.

The actual timing and implementation of the IPO will be subject to the determination of the Company's and Agilus's respective boards, after considering the prevailing market conditions and other relevant factors and at such price determined in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The IPO shall also be subject to the approval of the members of the Company, and other regulatory approvals, as required under applicable law.

Shares of Fortis Healthcare Limited was last trading in BSE at Rs. 338.45 as compared to the previous close of Rs. 333.10. The total number of shares traded during the day was 50268 in over 2389 trades.

The stock hit an intraday high of Rs. 339.50 and intraday low of 330.05. The net turnover during the day was Rs. 16973490.00.

Source : Equity Bulls

Keywords

FortisHealthcare INE061F01013 Agilus FundRaising IPO