Fortis Malar Hospitals Limited , a healthcare provider based in Tamil Nadu, has disclosed receiving a show cause notice from the State Tax Officer in Chengalpattu Intelligence Division. The notice, initially for a substantial amount, has been significantly reduced following the company's response.

Details of the Tax Notice

Resolution and Outcome

After Fortis Malar Hospitals submitted its response to the initial notice, the GST Authority revised its stance. The authority has now passed an order demanding a significantly reduced amount of INR 1.14 lakhs, which includes interest and penalties. The show cause notice for the remaining balance amount has been dropped.

Company's Disclosure

In compliance with regulatory requirements, Fortis Malar Hospitals has made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received the notice on October 31, 2023, at 2:43 PM, as per the LODR filing.

This development highlights the importance of proper tax compliance and the potential for resolution through appropriate responses to regulatory inquiries. While the initial notice amount was substantial, the final demand represents a significant reduction, potentially indicating a satisfactory explanation or resolution of the issues raised by the tax authorities.

Investors and stakeholders of Fortis Malar Hospitals may view this outcome positively, given the substantial reduction in the demanded amount. However, it also serves as a reminder of the ongoing regulatory scrutiny that companies in the healthcare sector may face regarding their tax obligations.

IHH Healthcare Berhad has announced the commencement of the tendering period for open offers to acquire shares in Fortis Healthcare Limited and Fortis Malar Hospitals . This corporate action marks a step in IHH's expansion in the Indian healthcare sector.

Key Details of the Open Offer

• Tendering Period: October 20, 2025, to November 4, 2025
• Fortis Healthcare Offer: Up to 197,025,660 shares (26.10% of expanded voting share capital)
• Fortis Malar Offer: Up to 4,894,308 shares (26.11% of voting share capital)
• Acquiring Entity: Northern TK Venture Pte Ltd, an indirect wholly-owned subsidiary of IHH

Timeline and Recommendations

• The Committees of Independent Directors (IDC) of both Fortis and Malar published their recommendations on October 16, 2025.
• These recommendations were made available on the websites of SEBI, BSE, and National Stock Exchange of India Limited.
• Pre-offer advertisements will be published on October 17, 2025, in the same newspapers where the Detailed Public Statement (DPS) was originally published.

Additional Transaction Details

The transaction also includes a subscription of 235,294,117 new equity shares in Fortis Healthcare Limited through preferential allotment to Northern TK Venture Pte Ltd.

Market Implications

This open offer represents a move in the Indian healthcare landscape. IHH Healthcare's attempt to increase its stake in Fortis Healthcare and Fortis Malar Hospitals may lead to potential changes in the management and strategic direction of these healthcare providers.

Investors and stakeholders may want to monitor the developments during the tendering period, as the outcome of this open offer could have implications for the future of these healthcare entities and the broader Indian healthcare sector.

As the tendering period approaches, market participants are advised to review the detailed offer documents and IDC recommendations to make informed decisions regarding their shareholdings in Fortis Healthcare and Fortis Malar Hospitals.