Shares of Fortis Healthcare rose nearly 5 per cent today as the company completed the acquisition of 51 per cent stake in Fortis Hospotel and also acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre.
The scrip gained 4.64 per cent to settle at Rs 178.25 on BSE. During the day, it surged 10.5 per cent to Rs 188.25.
At NSE, shares of the company jumped 4.48 per cent to end at Rs 178.20.
On the volume front, 7.16 lakh shares of the company were traded on BSE and over 48 lakh shares changed hands at NSE during the day.
The company was contemplating, "acquisition of 51 per cent economic interest in Fortis Hospotel by way of acquiring compulsorily convertible debentures from Fortis Global Healthcare Infrastructure Pte Ltd", Fortis Healthcare said in a BSE filing on Saturday.
It was also mulling acquiring compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre, by one of the company's wholly-owned subsidiary, Fortis Hospitals.
"These acquisition transactions were subject to approval of our shareholders," Singapore Exchange Securities Trading and unit holders of RHT Health Trust, Fortis Healthcare said.
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