Fortis Healthcare has surged 10% to Rs 112 after the company controlled by Malvinder and Shivinder Mohan Singh approved the setting up of a committee that would explore various means to raise funds.
“The board of directors of the company on November 27, 2012 has approved the constitution of a committee of the board to explore various methods of funds raising and accordingly to secure necessary approval of shareholders or otherwise,” Fortis Healthcare said in a filing.
Meanwhile, Fortis Healthcare-controlled Religare Health Trust in October raised $418 million from a Singapore IPO. The proceeds will be used for the completion of the acquisition of the initial portfolio and for general working capital purposes.
The stock opened at Rs 102 and touched high of Rs 113 on the BSE. A combined 1.28 million shares have changed hands on the counter so far.
