New Delhi-based Fortis Healthcare will issue two shares for every five shares held by its shareholders under its Rs 997 crore rights issue programme, the company said today. The subscribers to the issue will also get two detachable warrants for two shares alloted.
The company has fixed the price for its rights issue at Rs 110 per share, consisting Rs 10 as the face value and 100 as premium. The proceeds of its rights issue would be used for funding greenfiled projects, including green field project in Gurgaon, redemption of preference shares, repayment of short term debt, upgradation of its facilities, the company said.
The issue is set to open in the first fortnight of September 2009, the company said.
