 "From left: Dabur India non-executive chairperson Anand Burman and Sunil Kant Munjal of Hero Enterprise")
Promoters of Hero Group and Dabur India have submitted a joint bid to acquire a significant stake in Fortis Healthcare, intensifying the battle for control of the group’s hospitals and diagnostics business.
Sunil Kant Munjal of Hero Enterprise and the Burman Family Office, which own around 3 per cent stake in Fortis Healthcare, have proposed to invest Rs 12.50 billion in the company in two tranches.
This infusion, they said, will help in addressing urgent financial needs of the company, which is said to have only Rs 700 million in liquid cash.
Based on Thursday’s closing price (Rs 153.80) on
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