UK-based Bagris take stake in Fortis Healthcare

Fortis Healthcare today signed pre-IPO placement agreements with UK-based Metdist Group and Trinity Capital for Rs 56 crore.

The company said the agreements were for allotment of one million equity shares each to Raj Kumar Bagri and Apurv Bagri of Medtist Group and two million shares to Trinity Capital.

Shivinder Mohan Singh, managing director, Fortis Healthcare, said the investment was a reflection that a diverse range of investors are interested in the Indian healthcare sector.

An official release said the equity issued as per pre-IPO placements would be subject to lock-in after the completion of the IPO as per Sebi regulations.

Fortis has already signed two pre-IPO placements, aggregating up to $33.33 million (about Rs 150 crore), with Quantum, Blue Ridge Partnership and Blue Ridge Offshore Master.