IHH gets SEBI approval for increasing Fortis shareholding, ETHealthworld
Mumbai: Malaysian healthcare service chain IHH Healthcare has secured market regulator, SEBI nod to proceed with its pending open offer for expanding its shareholding in corporate hospital chain Fortis and its subsidiary Malabar hospitals.
Informing about the development to the malaysian market regulator— Bursa Securities— IHH said, “the Securities and Exchange Board of India, pursuant to its letter dated 1 October 2025, has approved IHH’s request to proceed with the Fortis Open Offer and the Malar Open Offer”
While the initial offer was pegged at the floor price of Rs 170 per share, the final acquisition is likely to undergo a revision to align with Fortis’s updated share price of nearly Rs 980 per share.
IHH acquired a 31 per cent equity stake in Fortis in 2018. However, a mandatory open offer for the acquisition of over 26 per cent of the voting shares was pending due to ongoing litigation involving the Japanese drugmaker Daiichi Sankyo and the hospital chain’s co-founders, Malvinder and Shivinder Mohan Singh.
The drugmaker had sued the two founders over the acquisition of Ranbaxy Laboratories, then owned by two promoters for concealing critical regulatory investigation information.
Ranbaxy that was embroiled in charges of fraud and fabrication of data to gain product approvals in the US and it later pleaded guilty of distributing adulterated drugs in the US.
