Timeline: Fortis Healthcare bidding war - The story so far

(Reuters) - Fortis Healthcare Ltd (FHL), which runs about 30 hospitals in India, has become a target of a heated takeover battle, with five entities bidding for the embattled company.

Fortis has set up an advisory committee to evaluate binding offers from suitors vying to acquire the company, or take a stake in it.

May 1 is the deadline for binding offers, which will be evaluated by an expert advisory panel. The board is set to meet on May 10.

Following are the details of the bids:

March 27 here - Manipal Hospitals Enterprises Private Ltd offers to buy Fortis' hospital business

April 10 here - Manipal sweetens bid for Fortis hospitals

April 12 here - Unsolicited binding offer From Hero Enterprise Investment Office and the Burman Family Office

April 13 here - Malaysia's IHH Healthcare Berhad tops Manipal's bid

April 17 here - China's Fosun International's unit Fosun Health Holdings submits offer

April 18 here - IHH Healthcare revises its offer

April 19 here - Munjals, Burmans revise their offer

Radiant Life Care Private Ltd offers here to invest in Fortis

April 24 here - IHH Healthcare tweaks earlier proposals

• Offers to immediately infuse 6.50 billion rupees under a binding proposal and subsequently invest up to 33.50 billion rupees under a non-binding proposal

Radiant Life Care revises offer here for Fortis

• Makes binding offer for Fortis Mulund Hospital at an enterprise value of 12 billion rupees

• Retains proposal to demerge Fortis’ hospital business into a new company• Proposes to spin off Fortis’ SRL business • The offer values FHL at 170 or 175 rupees per share, depending upon SRL’s valuation after proposed demerger• The all-cash offer of 126 rupees per share for the hospital business stays, which excludes SRL stake

Manipal raises Fortis offer here

• Raises offer to 63.22 billion rupees from 60.61 billion rupees• To provide financial assistance of up to 7.50 billion rupees• In addition to buying the SRL stake from PE investors, Manipal to acquire a 5 percent stake in SRL from Fortis

May 01 bit.ly/2w0P8Lp - IHH Healthcare sweetens bid

• Immediate equity infusion at 175 rupees per share

• Subsequent equity infusion at price up to 175 rupees per share

Munjals & Burmans submit modified bit.ly/2FvJb8R investment proposal

• Raises offer to invest 18 billion rupees, including upfront investment of 10.50 billion rupees, via subscription to shares and warrants

• Offer comprises 8 billion rupees via preferential issue of shares, 10 billion rupees via preferential issue of warrants

• Shares valued at 167 rupees apiece, while each warrant to fetch 176 rupees

($1 = 66.4400 Indian rupees)