On Wednesday, Fortis Healthcare Ltd stated that its board of directors has cleared a deal to arrange for up to ₹1,500 crore, by offering NCDs on a private placement basis. During the board of Directors’ meeting held in the fifteenth day of the tenth month in the year two thousand, twenty-four, the decision was made.

This financial regulation document shows that the NCDs will be available to many qualified shareholders; the prominent anchor investors are DBS Bank Ltd, HSBC, Citicorp Investment Bank (Singapore) Ltd, and Mizuho Bank other QFPIs.

The fundraising will be done at three phases and, in every phase, the aim is to raise ₹500 crore. DBS Bank will be the underwriter for Series 1 of the bond while HSBC is underwriter for Series 2, Series 3 will be underwritten by Citicorp Investment Bank and Mizuho Bank with completion of the credit rating. The NCDs will have a tenor of five years from the date of allotment and the company will aim to list the NCDs on the Bombay stock Exchange BSE.

After the announcement, the stock of Fortis Healthcare went up by 1.73% to ₹607.40 on BSE. This is a capital procurement drive that is meant to enhance the company’s financial base to help it achieve it’s growth strategies in the exercise industry that can be considered as highly saturated.

Fortis Healthcare invested in improving the quality and ranges of its services as well as growing the number of centers across the country, and becoming one of the key players in the Indian healthcare sphere.