"We are now evaluating all possible options, to ensure shareholders have the opportunity to realise this value".
Hero Enterprise Investment Office and Burman Family Office will become Fortis' largest shareholder with an investment of 18 billion rupees (S$357 million), valuing the firm at about 90 billion rupees.
The Burman Family Office and Hero Enterprise Investment Office had tabled a binding offer to invest Rs800 crore through a preferential share issue at Rs167 each and Rs1,000 crore via preferential issue of warrants at Rs176 per warrant.
It also encapsulates a "Preferential Issue of Warrants of Rs 1,000 crore at Rs 176 per share or as per SEBI ICDR guidelines whichever is higher".
"Going forward, the immediate plan of action for the company should be to build on its strengths, retain talent, expand business and institutionalise processes at Fortis", Anand Burman, Chairman of Dabur India said on the takeover deal.
'Something will happen' if Iran doesn't negotiate on new nuclear deal
Representatives in the industry had already expressed their concern about difficulties exporting to Iran, the minister said. Iran is one of the world's largest oil producers, and the export of oil and gas is worth billions of dollars each year.
Boston Dynamics' robots are conquering the indoors and outdoors
Atlas last year achieved the ability to backflip last year in November, and in a few months' time it has turned into a pro jogger. Boston Dynamics says the robot is manually driven through the space to build a map using visual data from front-facing camera.
Don't Write Off the Republicans Yet
CNN is justifiably hyped about its new poll offering a surprising assessment of this November's congressional races. Republicans are more positive toward Ryan (67% favorable) than Democrats are toward Pelosi (57% see her favorably).
After the investment, Hero-Burman will together own just under 20 per cent of Fortis, including the 3 per cent they already own, Mr Munjal said.
With the deal went into the lap of Munjal-Burmans, month-and-a-half-long bidding war comes to an end.
Currently, this puts to rest the heated contest that was witnessed over the last few weeks among Munjals-Burmans, Malaysian IHH Healthcare Berhad, Manipal Health Enterprise-TPG Capital, KKR backed Radiant Life Care and Fosun Health Holdings (an arm of Hong Kong's Fosun International).
India's Fortis Healthcare Ltd (FOHE.NS) aims to accept an offer of investment from the underdog of a five-way bidding war, in a decision that drew investor ire and sent shares in the cash-strapped hospital operator down nearly 5 percent.
JP Morgan has an overweight rating on the stock with a target price of Rs 225 by September 2018. It operates its healthcare delivery services in India, Dubai, Mauritius and Sri Lanka.
The consortium, which is the first to make a binding offer to Fortis, had initially valued the hospital business of the healthcare chain at Rs 5,003 crore in its offer on 27 March.