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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Forced to buy out investors of its struggling diagnostics arm, Fortis now has the additional burden of reviving Agilus even as it’s trying to get the core healthcare business back on track.
Fortis Healthcare has a millstone around its neck. After shelving plans in February to list Agilus Diagnostics, India’s leading hospital chain is now having to shell out a whopping Rs 1,780 crore (about $213 million) to buy out private equity investors in its struggling diagnostic arm.
International Finance Corporation, Jacob Ballas and Resurgence PE have decided to sell their nearly 31% stake in Agilus. With this buyback, Fortis’s stake will go up to 89%, valuing the diagnostic company at Rs 5,700 crore.
Fortis Healthcare CEO Ashutosh Raghuvanshi says buying the additional stake in Agilus “gives us more autonomy to operate …
The kingdom is moving to tighten the rules around public listings, algorithmic trading, trading in foreign securities and company disclosures—all in an effort to chase transparency.
As the smart fan maker gears up for an IPO, prospective investors could do with some clarity on what the company’s next phase of growth will look like.
The stock market regulator is investigating a string of disappointing public listings. The idea is to send a message.
