 "Fortis Healthcare")
Minority shareholders have sought the Securities and Exchange Board of India's (Sebi's) intervention over IHH Healthcare's decision to delay the open offer in Fortis Healthcare. The Malaysian firm on Monday announced that it won't be able to proceed with the Rs 33 billion open offer following the Supreme Court's order to put on hold the sale of controlling stake in the Indian hospital chain.
The mandatory open offer to buy an additional 26 per cent stake in Fortis Healthcare was to open for subscription on Tuesday and remain open till January 1.
The apex court's order follows a contempt
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