Fortis Healthcare promoters plan Rs 280 cr buyback of NCDs

Two promoter holding firms of Fortis Healthcare are mulling a combined Rs 280 crore buyback of non-convertible debentures that were alloted on private placement basis.
Fortis Healthcare Holdings is mulling over a Rs 200-crore buyback of non-convertible debentures that were alloted on private placement basis.
In a filing to the BSE, the company which is the holding firm of Fortis Healthcare Ltd, said its board will take up the matter for consideration on Wednesday.
"On March 11, 2015, the Board of Directors of the Company shall consider the proposal of buy-back 2,000 secured rated listed redeemable non-convertible debentures of the company of Rs 10,00,000 each aggregating to Rs 200 crore allotted on March 28, 2014 on private placement basis," the filing said.

In a separate filing, RHC Holding Pvt Ltd, another investment firm controlled by the Singh brothers said its board would consider buy back 800 secured redeemable non- convertible debentures of the company of Rs 10,00,000 each aggregating to Rs 80 crore allotted on March 28, 2014 on private placement basis.
Fortis Healthcare Holdings Pvt Ltd (FHHPL) is a holding/investment company, controlled by promoters of Religare Enterprises and Fortis Healthcare Ltd Malvinder Mohan Singh and Shivinder Mohan Singh.
FHHPL, is in turn held by RHC Holding Private Ltd (RHC) and Oscar Investments Ltd (OIL), both of which are promoter holding companies.