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According to Fortis Healthcare Ltd, two shares will be issued on a rights basis for every five held. It added that the subscribers will also be permitted to two detachable warrants.
The rights issue of the hospital-chain operator will be priced at Rs. 110 a share. This is intended for raising Rs. 9.97 billion excluding the warrants.
The proceeds is meant for funding the green-field projects, redemption of preference shares, repayment of short-term debt, upgrading existing units and for future investment opportunities.
The issue, subject to regulatory approvals, will open in the first fortnight of September.
