Fortis Healthcare Limited — Others, 18-02-2025: Shareholders meeting

Fortis Healthcare Limited is conducting a postal ballot for members to approve key proposals, including the appointment of Mr. Leo Puri as an Independent Director, the payment of up to INR 1.95 Cr annually to the Chairman until March 31, 2027, and amendments to its Articles of Association. A significant proposal involves acquiring Shrimann Hospital in Jalandhar for approximately INR 423.40 Cr, a move aligned with its strategy to enhance its healthcare portfolio. Additionally, Fortis plans to raise up to INR 500 Cr in debt to fund this acquisition and facilitate future growth. This may reflect a strategic shift and a positive outlook for long-term expansion, although investors should consider the implications of increased leverage.