Fortis Healthcare Limited has announced the outcome of its Board meeting held on October 9, 2024, where two key decisions were made. The company approved the issuance of Non-Convertible Debentures (NCDs) worth ₹1,550 crore and appointed M/s Neelam Gupta & Associates as the Secretarial Auditor for the financial year 2024-25.
NCD Issue Details:
Fortis Healthcare will issue senior, secured, redeemable Non-Convertible Debentures worth ₹1,550 crore in three series:
- Series 1: ₹500 crore – DBS Bank Ltd
- Series 2: ₹500 crore – The Hongkong and Shanghai Banking Corporation Limited (HSBC) through GIFT FPI
- Series 3: ₹550 crore – Citicorp Investment Bank (Singapore) Ltd., and Mizuho Bank, Singapore
The NCDs will have a tenure of five years, with annual coupon payments and amortized principal payments over the second to fifth years.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice.