Date:25/12/2008 URL: http://www.thehindu.com/2008/12/25/stories/2008122556031500.htm

Business - Briefly

Fortis Healthcare plans rights issue

CHENNAI: Fortis Healthcare plans to raise funds by way of issue of equity shares with warrants on a rights basis aggregating Rs. 1,000 crore (excluding the value of warrants as and when exercised). The proceeds would be used for funding greenfield projects, including the upcoming medi-city project in Gurgaon, redemption of preference shares, repayment of short- term debt, upgradation of existing facilities and tapping future investment opportunities. The share ratio and price per share would be decided at a later date, says a release.