IHH Healthcare Berhad has announced the completion of its mandatory open offers for Fortis Healthcare Limited and Fortis Malar Hospitals Limited, marking a significant milestone in its strategic expansion in the Indian healthcare sector.

Open Offer Results

The tendering period for both open offers concluded on November 4, 2025, with the Bombay Stock Exchange (BSE) confirming the results on November 7, 2025. The outcome revealed a notably low participation rate from shareholders:

IHH's Shareholding Post-Offer

Following the completion of these open offers, IHH Healthcare's indirect shareholding stands as follows:

Transaction Background

The open offers were part of a larger transaction that included a preferential allotment of 235,294,117 new Fortis shares to Northern TK Venture Pte Ltd, an indirect wholly-owned subsidiary of IHH. This allotment was a key component of IHH's strategy to strengthen its position in the Indian healthcare market.

Regulatory Compliance

The announcement, made on November 10, 2025, adheres to the disclosure requirements under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015. Fortis Healthcare Limited promptly communicated this development to the National Stock Exchange of India Ltd. and BSE Limited, ensuring transparency in the process.

Implications

The minimal response to the open offers solidifies IHH Healthcare's significant stake in both Fortis Healthcare and Fortis Malar Hospitals. This outcome positions IHH to play a crucial role in shaping the future strategies and operations of these healthcare entities in India.

As the healthcare sector continues to evolve, IHH's enhanced position in the Indian market could lead to potential synergies and strategic initiatives aimed at improving healthcare delivery and operational efficiencies.

IHH Healthcare Berhad has announced the commencement of the tendering period for open offers involving Fortis Healthcare Limited and Fortis Malar Hospitals Limited. The open offers, set to run from October 20, 2025, to November 4, 2025, mark a significant development in the healthcare sector.

Key Details of the Open Offers

• Fortis Healthcare Open Offer: Aims to acquire up to 197,025,660 shares, representing 26.10% of the expanded voting share capital.
• Fortis Malar Open Offer: Targets up to 4,894,308 shares, representing 26.11% of the voting share capital.
• Subscription Details: The transaction involves Northern TK Venture Pte Ltd, an indirect wholly-owned subsidiary of IHH, subscribing to 235,294,117 new Fortis shares through preferential allotment.

Timeline and Recommendations

• Tendering Period: October 20, 2025, to November 4, 2025
• IDC Recommendations: Published on October 16, 2025
• Pre-offer Advertisements: Scheduled for October 17, 2025

The Committees of Independent Directors (IDC) of both Fortis Healthcare and Fortis Malar Hospitals have published their recommendations regarding the respective open offers. These recommendations will be included in the pre-offer advertisements.

Additional Corporate Actions

In a separate development, Fortis Healthcare Limited has initiated a postal ballot process for shareholder approval on the appointment of Dr. Keith Hsiu Chin Lim as a Non-Independent & Non-Executive Director of the company. Dr. Lim, who currently serves as the Group Chief Medical Officer at IHH Healthcare, brings over 20 years of experience as a radiation oncologist to the board.

The postal ballot notice, dated October 1, 2025, outlines the voting process, which will be conducted through both physical ballot forms and e-voting. Shareholders are required to cast their votes by November 15, 2025.

This series of corporate actions underscores the ongoing changes in Fortis Healthcare's governance structure and ownership, potentially impacting its strategic direction in the coming years.