Corporate Updates

Fortis Healthcare may enter JV with Emaar MGF

Fortis Healthcare is exploring possibilities of a joint venture with Emaar MGF for setting up of hospitals. Shares of Fortis Healthcare closed at INR 99.50, down 0.60 per cent on the BSE. Emaar MGF Land Ltd is a joint venture between Emaar Properties of Dubai and MGF Development Ltd of India. It has received market regulator SEBI’s approval to launch an initial public offer to raise about INR 7,000 crore. The issue is likely to hit the capital market in the first week of February, and is expected to be listed by February-end.

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