Fortis Hospitals has an upcoming Open Offer – Worth a Chance?
Is there a play here for a savvy Investor? Since IHH is infusing additional funds and also taking over management control, there is a compulsory open offer that will be available to existing shareholders. IHH will offer a buyback of 26% of expanded capital at Rs 170/share, while current value of the share is at Rs 140. While it looks interesting, the devil is in the details.