Fortis Healthcare approves up to Rs. 12.5 billion in convertibles

By Devika Patel

Knoxville, Tenn., Feb. 10 - Fortis Healthcare Ltd. informed the Bombay Stock Exchange that it approved a proposal to issue up to Rs. 12.5 billion in foreign currency convertible bonds at a board of directors meeting on Feb. 10.

The company also is considering convertible debentures, Global Depositary Receipts, American Depositary Receipts and other securities.

New Delhi-based Fortis Healthcare is a health care company with a network of super speciality hospital hubs. The company has built a tele-medicine network, which connects each of its facilities.

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