The relevant disclosure is attached.
Awaiting price reaction for this filing.
Fortis Healthcare's wholly owned subsidiary, Fortis Hospotel Limited, had signed definitive agreements on February 14, 2025 to acquire the entire business operations of Shrimann Superspecialty Hospital in Jalandhar, along with the underlying hospital land and adjacent land. The deal was temporarily halted after Cancer Treatment Services Hyderabad (CTSH) obtained an ex-parte injunction order dated March 20, 2025, restraining Shrimann Hospitals and its partners from completing the sale. On May 13, 2025, the Additional District and Sessions Judge-IX, Jalandhar issued a Dismissal Order after CTSH and the Respondents settled their differences, withdrawing the petition. Consequently, the ex-parte injunction has been vacated and the judicial restraint on the sale of Shrimann Hospital has been lifted. This removes the legal obstacle blocking Fortis from proceeding with the acquisition.
Positive for Fortis Healthcare shareholders — the legal hurdle blocking the Shrimann Hospital acquisition has been cleared, allowing the company to move forward with its planned expansion in Jalandhar. This may support the stock sentiment as the acquisition was already announced and is now back on track.