IHH Healthcare Plans to Raise Fortis Stake to 51%, Expand Capacity to 10,000 Beds

In a statement disclosed through a Fortis Healthcare filing with the BSE, IHH said it would fully cooperate with the forensic audit and expressed confidence that an independent review would establish the facts surrounding its 2018 investment in Fortis.

Malaysia-based IHH Healthcare plans to increase its stake in Fortis Healthcare to 51% over the next three to five years and expand the hospital network’s total capacity to approximately 10,000 beds by 2031.

The announcement follows the Supreme Court’s September 25, 2026, decision to dispose of Fortis Healthcare’s special leave petition challenging a Delhi High Court order concerning a forensic audit of the company.

In a statement disclosed through a Fortis Healthcare filing with the BSE, IHH said it would fully cooperate with the forensic audit and expressed confidence that an independent review would establish the facts surrounding its 2018 investment in Fortis.

IHH said it plans to increase its stake in Fortis, further integrate the Fortis and Gleneagles platforms, and expand capacity as part of its plans for the Indian healthcare market.

The company also clarified its position on the longstanding dispute between Fortis and Daiichi Sankyo. IHH said it was not a party to the dispute or the related execution proceedings and was not among the judgment debtors. However, it said delays in obtaining mandatory tender offer approvals required for the Fortis acquisition resulted in losses for the group.

IHH said its subsidiary, Northern TK Venture Pte Ltd (NTK), acquired its Fortis stake in 2018 through a competitive bidding process. The transaction involved a preferential allotment of newly issued Fortis shares worth ₹4,000 crore for a 31% stake, along with a mandatory tender offer to public shareholders.

According to IHH, the transaction received the required corporate, shareholder and regulatory approvals, including clearance from the Competition Commission of India and approvals under SEBI takeover regulations.

The company also said no secondary shares were acquired from former Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh, and no payments were made to them.

IHH added that the Singh brothers had resigned from the Fortis board in March 2018, after which the company was overseen by a reconstituted three-member independent board. IHH’s investment was completed in November 2018, several months after their resignation, and the company said it had no interaction with the former promoters.

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