India's Fortis board approves setting up panel to raise funds

MUMBAI Wed Nov 28, 2012 2:47am EST

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MUMBAI Nov 28 (Reuters) - Indian hospitals chain Fortis Healthcare said late on Tuesday its board had approved the setting up of a committee that would explore various means to raise funds.

The company did not specify the reason for the proposed fund raising and did not reveal the amount to be raised.

Religare Health Trust, managed by Fortis, raised about $418 million through an initial share sale in Singapore last month. (Reporting by Kaustubh Kulkarni; Editing by Subhranshu Sahu)

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