Fortis plans Rs.1000-cr IPO
New Delhi: Fortis Healthcare is planning to come out with one of the biggest IPOs in the sector. Sources close to the development said the size is expected to be in the region of Rs1,000-1300 crore.

The company is learnt to have already roped in JM Morgan Stanley, Citi group and Kotak Mahindra to handle the issue.Fortis has also mandated consultancy major McKinsey to recommend a roadmap and strategy for the company's future growth plan for the next 3-4 years.

Fortis Healthcare has set an ambitious national spread for its hospital chain, with a target of taking the total number of hospitals to 35 in next 3-4 years. The company currently has 10 hospitals, with two more hospitals set to be added in the next 2 months. Of this, one would be in South Delhi and the other in Jammu & Kashmir.

Sources said a major factor in arriving at the final figure for the IPO would depend on whether Fortis would go solo for setting up its pro-posed Rs1,200 crore Medicity project in Gurgaon or would join hands with leading cardiologist Dr Naresh Trehan who has also announced a Medicity project in Gurgaon.
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