Promoters’ holding in Fortis Healthcare is down to 0.77%

The promoter stake in Fortis Healthcare, which is in the midst of a takeover battle, came down to 0.77% as of March 2018, when compared to 34.43% in the December quarter.

According to the latest shareholding pattern, the public shareholding in the firm was 99.23%. Out of this, Yes Bank had 15.14% stake and Axis Bank 1.76%. Foreign portfolio investors held 45.63% stake in March, when compared to 30.37% in December quarter.

The board of Fortis, in the meanwhile, will decide on the bids it had received for buying the company on April 19. Manipal Hospitals-TPG combine, IHH Healthcare-Hero Enterprise Investment Office team and the Burman Family Office are in the race. It will be interesting to watch how the board will act given the fact that Fortis has also signed a binding agreement with Manipal and TPG.