Fortis Healthcare defers preferential issue to GIC

Fortis Healthcare Ltd has announced that further to the Extra-ordinary General Meeting of the Company held on June 09, 2010, approving therein the preferential allotment of Equity Shares to GIC Special Investments Pte Ltd., through its affiliated investment vehicle.

Further the Company has informed that, GIC would like to consider participating in the larger fund raising by the Company as per the resolution passed in the Board Meeting dated June 09, 2010 and keeping that in mind, the Company and GIC have mutually agreed to defer the current preferential investment until such time.

The stock was trading at Rs.155.20, down by Rs.1.20 or 0.77%. The stock hit an intraday high of Rs.156.70 and low of Rs.152.40.

The total traded quantity was 377461 compared to 2 week average of 1363832.

Source : Equity Bulls

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