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Fortis board asks Singh brothers to step down from SRL board

Updated : May 29, 2018 03:59 PM IST

Sunil Munjal’s Hero Enterprise Investment Office and the Burman Family Office, which together own a minority stake in Fortis, has committed to invest Rs 1,800 crore in the hospital chain.
The Munjal-Burman consortium also agreed to invest another Rs 1,000 crore via preferential issue of warrants priced at Rs 176 per share, it added.
Fortis became a takeover magnet earlier this year when the Singh brothers lost shareholding control owing to mounting debt and lenders invoked pledged shares.
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