Business Daily from THE HINDU group of publications
Friday, Mar 23, 2007
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Business Daily from THE HINDU group of publications Friday, Mar 23, 2007 ePaper |
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Markets
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Private Placement Industry & Economy - Medical Institutions & Hospitals Our Bureau
New Delhi March 22 McKinsey and Company's investment arm VASCO has picked up stake worth Rs 10.69 crore in Mr Shivinder Mohan Singh-promoted Fortis Healthcare. In a pre-IPO placement round, VASCO Inc picked up 6.7 lakh equity shares in Fortis Healthcare at a price of Rs 159.50 per share, Fortis said in a statement. As per SEBI regulations, the issued shares would be subject to lock-in after the completion of the IPO, it said. Fortis had recently raised Rs 87 crore through pre-IPO placement to Trinity capital VSB. "McKinsey helped us create our vision, mission and growth strategy for the next five years and in the process, has gained an understanding of our organisation and the opportunity in the healthcare sector. We hope to benefit from this association," the Fortis' Managing Director, Mr Shivinder Mohan Singh, said in the statement.
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