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Fortis Malar Hospitals is disclosing the results of mandatory open offers made by Northern TK Venture Pte Ltd (NTK), an indirect wholly-owned subsidiary of Malaysia-listed IHH Healthcare Berhad. The offers were for up to 26.10% of Fortis Healthcare's expanded share capital and up to 26.11% of Fortis Malar's voting share capital, alongside a preferential subscription of 235,294,117 new Fortis Healthcare shares to NTK. The tendering period closed on 4 November 2025, with only 4,523 Malar shares (0.02%) and 1,778 Fortis Healthcare shares (0.0002%) being tendered — an extremely poor response. Following completion, IHH will indirectly hold 11,756,925 Malar shares (62.73%, up marginally from 62.71%) and 235,295,895 Fortis Healthcare shares (31.17%).
The open offer received almost no response from public shareholders, signalling strong holder confidence and that the market price was viewed as equal to or above the offer price. IHH's control of Malar rises only slightly to 62.73%, with no material change in management or minority shareholder risk profile.