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New Delhi, May 10 -- Hospital major Fortis Healthcare Ltd is set to raise Rs 380 crore through a preferential allotment of shares to GIC Special Investments Pte Ltd. The funds will be utilised to finance the recent and future acquisition by the company or its subsidiaries, a statement said on Monday.The company will issue 22.35 million shares at Rs 170 each, it added. An extra-ordinary general meeting (EGM) is slated to be held on June 9 for shareholders' approval. The entire process of allotment of shares is expected to be completed by June 24. Religare Capital Markets Ltd -the global investment banking arm of Religare Enterprises Limited- was the sole advisor and arranger to Fortis for the said issue. Currently, Fortis has an over 12,000 bed capacity across 68 hospitals in seven countries. It had recently acquired a strategic stake in Parkway Holdings Limited of Singapore.
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