Fortis bid: Munjal & Burmans up offer by Rs 300 crore

BY :13

Fortis bid: Munjal & Burmans up offer by Rs 300 crore

New Delhi: Sunil Kant Munjal of Hero Enterprises and the Burman family of the Dabur group have revised their bid for Fortis Healthcare on the last day to submit bids that a two-member expert advisory committee will be studying to recommend a deal for the company. The joint bidders follow Malaysian healthcare group IHH in sweetening their offers for Fortis as competition for the hospital and diagnostics group continues to intensify.Munjal and the Burmans, who are jointly bidding for Fortis, have now revised their offer to invest Rs1,800 crore directly into Fortis, up from Rs 1,500 crore earlier.In a letter sent to Fortis on Tuesday, the joint bidders have offered to infuse Rs 800 crore through preferential issue of equity shares at Rs 167 per share or as per SEBI ICDR guidelines, whichever is higher. They have also proposed an additional Rs 1,000 crore through preferential issue of warrants at

2018.05.01. 09:45 BY :13

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