Fortis needs the funds to further its expansion plans as well as to write-off the debt it had incurred while acquiring Escorts Heart Institute and Research Centre. Fortis Healthcare has chalked out some meg-expansion plans, partly through acquisitions, which will require investments of Rs. 2250 crores by 2010.
Trikona Capital is a real estate-focused private equity firm; it is planning to invest around $1 bn in the Indian market in the next one year. So far, it has made investments of up to $150 million in India. Apart from Fortis, Trikona’s investments include a minority stake in IL&FS Transportation and Networks for $10 million, $20 million in an integrated township project in Thane, $22 million in a residential project in Mumbai and around $55 million in an IT park in Greater Noida. The fund also has partnerships with HDFC and IL&FS to make investments in India.
Read The Economic Times article.