Fortis Healthcare board opts to issue up to $30 million convertibles

By Tali David

Minneapolis, July 24 - Fortis Healthcare Ltd. informed the Bombay Stock Exchange that its board of directors has decided to launch its issue of up to $30 million of foreign currency convertible bonds.

Approval for the bonds took place at meetings on Nov. 27, 2012 and March 26.

The company also said the conversion price is Rs. 99.09 per equity share of the company.

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

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