PROJECT

Projects

Summary of Investment Information

Project Number

33057

Company Name

FORTIS HEALTHCARE LIMITED

Date SPI Disclosed

May 8, 2013

Country

India

Region

South Asia

Projected Board Date

Mar 14, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Regional Industry - MAS Asia & Pac

Industry

Health, Education and Life Sciences

Previous Events

Approved : Mar 14, 2013
Signed : May 8, 2013
Invested : May 10, 2013

Sector

Hospitals and Clinics

Project Description

Fortis Healthcare Limited (“Fortis” or the “Company”) plans to raise US$100 million from IFC through a combination of straight equity and Foreign Currency Convertible Bonds (“FCCBs”). This is a corporate financing with proceeds expected to be utilized to fund the Company’s India growth plans and could partly be used for repayment of debt to reduce the overall Company leverage, in accordance with applicable law. The Company proposes to substantially increase its bed capacity in India over the next 3-5 years in India, including in second and third tier cities and low income states in India.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation