Fortis Healthcare Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Fortis Healthcare has confirmed to the stock exchanges that the proceeds from its Non-Convertible Debentures (NCDs) issued via private placement on December 19, 2024 have been fully utilized with no deviation or variation from the stated purpose. The company raised Rs. 1,550 crore (155,000 lakhs) through 155,000 secured, redeemable NCDs with a face value of Rs. 1,00,000 each. Of this, Rs. 429.37 crore was deployed on December 20, 2024 and Rs. 1,120.63 crore on January 16, 2025, entirely toward purchasing equity shares of Agilus Diagnostics Limited and related issue expenses. An independent auditor's certificate from BSR & Co. LLP confirms the utilization matches audited financial statements, and the audit committee has noted the disclosure.
This is a routine compliance filing confirming proper use of NCD proceeds in line with disclosed objectives, with no misuse or deviation. It provides comfort to debenture holders and shareholders that the Agilus Diagnostics acquisition was funded as planned, with no negative signal for the stock.