IHH plans to raise Fortis stake to 51 pc, expand capacity to 10,000 beds by 2031

New Delhi, Sep 29 (PTI) Malaysia-based IHH Healthcare has announced plans to hike its stake in Fortis Healthcare to 51 per cent over the next three to five years and expand total capacity to around 10,000 beds by 2031.

The statement follows the Supreme Court’s decision on September 25, 2026, disposing of Fortis Healthcare’s special leave petition (SLP) that challenged a Delhi High Court order requiring a forensic audit and certain observations made concerning the company.

As per a BSE filing by Fortis Healthcare, an IHH statement said that it will “fully cooperate with the forensic audit” and expressed confidence that an independent review will objectively establish the facts surrounding its 2018 investment.

Reaffirming its long-term commitment

to the Indian market, IHH said it intends to deepen its footprint and ramp up investments.

“Over the next three to five years, we plan to increase our stake in Fortis to 51 per cent, further integrate our Fortis and Gleneagles platforms, and expand our capacity to approximately 10,000 beds by 2031 to meet India’s growing healthcare needs,” IHH said.

Regarding the dispute between Fortis and Daiichi Sankyo, IHH said it was not a party to the dispute or execution proceedings and its judgment debtors, but suffered losses due to delays in securing mandatory tender offer approvals required for the Fortis acquisition.

IHH said that its subsidiary, Northern TK Venture Pte Ltd (NTK), acquired its stake in Fortis in 2018 through a transparent, widely public, and fully regulated competitive bidding process.

The transaction secured all mandatory corporate, shareholder, and regulatory approvals, including clearances from the Competition Commission of India (CCI) and under Sebi takeover regulations, it added.

IHH noted that its investment was executed via a preferential allotment of newly issued Fortis shares worth Rs 4,000 crore for a 31 per cent stake, accompanied by a mandatory tender offer to public shareholders.

“No secondary shares were acquired from the former promoters and judgement debtors, Malvinder Mohan Singh and Shivinder Mohan Singh, and no payments were made to them,” the statement said.

The group noted that the Singh brothers had resigned from the Fortis board in March 2018, following which the company was overseen by a reconstituted three-member independent board appointed by activist minority investors.

IHH’s investment took place in November 2018, several months after the former promoters resigned, and IHH had no interaction with them, the company added. PTI TRB ANU

ANU