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India's Fortis Healthcare says to raise 3.8 bln rupees


MUMBAI, May 10 (Reuters) - Indian hospital chain, Fortis Healthcare Ltd, said on Monday it will raise 3.8 billion rupees through a preferential allotment of shares to GIC Special Investments Pte Ltd. It will issue 22.35 million shares at 170 rupees each, it said in a statement. The funds will be used to finance the company's recent and future acquisitions, it added. Religare Capital Markets was the sole advisor and arranger to Fortis. Shares of Fortis closed 1.27 percent up at 167.25 rupees in a firm Mumbai market. (Reporting by Swati Pandey; Editing by Ramya Venugopal) ((swati.pandey@thomsonreuters.com; +91-22-6636-9123, Reuters Messaging: swati.pandey.reuters.com@reuters.net)) Keywords: FORTIS FUNDS/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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