Fortis Healthcare, the hospital-chain, is coming up with a 2-for-5 rights share issue. And the subscribers will also be entitled to two detachable warrants.

Announcement Date 24-12-2008
Rights Ratio 2:5
Face Value Rs 10
Premium Rs 100
Record Date 20-08-2009
Ex-Rights Date 18-08-2009

Fortis will price its rights issue at Rs 110 per share, to raise Rs 9.97 billion excluding the warrants, it said in a statement to the stock exchange.

The funds will be used mainly to fund greenfield projects (Medicity Gurgaon), redemption of preference shares, repayment of short-term debt, and for M&A and investment opportunities.