Fortis Healthcare To Increase Stake To 51% By 2031, Eyes 10,000 Beds In India

Mumbai: Fortis Healthcare Limited announced on Thursday that its parent company, IHH Healthcare Berhad (IHH), intends to increase its stake in Fortis to 51% over the next three to five years. IHH also plans to expand Fortis's bed capacity to approximately 10,000 by 2031, integrating its Fortis and Gleneagles platforms in India.

Supreme Court Ruling

The announcement follows the Supreme Court of India's decision on 25 September 2026, to dispose of the Special Leave Petition filed by Fortis Healthcare. This petition challenged the Delhi High Court's order for a forensic audit concerning the company.

IHH Investment Details

IHH's subsidiary, Northern TK Venture Pte Ltd, acquired a 31% stake in Fortis in 2018 through a preferential allotment of newly issued shares. This investment amounted to ₹4,000 crore and was accompanied by a mandatory tender offer to public shareholders. IHH stated no secondary shares were acquired from the former promoters, Malvinder Mohan Singh and Shivinder Mohan Singh.

Background to Acquisition

The Singh brothers resigned from the Fortis board in March 2018. Fortis was then overseen by a reconstituted three-member independent board. IHH's investment took place in November 2018, several months after the Singh brothers' resignation, and IHH reported no interaction with them.

Forensic Audit Cooperation

IHH will fully cooperate with the forensic audit. The company expressed confidence that an independent review will objectively establish the facts surrounding the transaction. IHH suffered losses due to delays in obtaining mandatory tender offer approvals for its Fortis acquisition, despite not being a party to the dispute between Daiichi Sankyo and the judgment debtors.

Future India Plans

IHH considers India a key strategic market and aims to deepen its presence and investments in the country through Fortis. The planned expansion to 10,000 beds by 2031 is intended to meet India's growing healthcare needs.

About IHH Healthcare

IHH is a multinational healthcare provider operating in 10 countries, including Malaysia, Singapore, Türkiye, India, and Greater China. Its network includes 190 healthcare facilities and 89 hospitals, with a team of 76,000 professionals. Its brands include Acibadem, Gleneagles, Fortis, and Parkway.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.