The company made this announcement after market hours on Tuesday, 12 June 2012.

Meanwhile, the BSE Sensex was down 26.91 points or 0.2% to 16,829.76.

On BSE, 17,170 shares were traded in the counter as against average daily volume of 1.03 lakh shares in the past one quarter.

The stock hit a high of Rs 102.50 and a low of Rs 101.55 so far during the day. The stock had hit a 52-week high of Rs 171.50 on 27 July 2011. The stock had hit a 52-week low of Rs 81 on 28 December 2011.

The stock had underperformed the market over the past one month till 12 June 2012, rising 1% compared with the Sensex's 3.5% rise. The scrip had also underperformed the market in past one quarter, falling 5.27% as against Sensex's 4.12% fall.

The mid-cap company has an equity capital of Rs 405.18 crore. Face value per share is Rs 10.

Fortis Healthcare (FHL) said its diagnostic chain subsidiary, Super Religare Laboratories (SRL), has signed definitive agreements with NYLIM Jacob Ballas India Fund III LLC Mauritius (NJBIF) and International Finance Corporation (IFC) for an equity investment in the company. NJBIF and IFC will invest Rs 250 crore and Rs 120 crore respectively in SRL in the form of compulsorily convertible preference shares (CCPS). The conversion of CCPS will be in the price band of Rs 201-Rs 220. Post conversion of CCPS, FHL will continue to hold 55-56% equity stake in SRL. The transaction will be subject to customary closing conditions and is expected to take place within this month itself, FHL said in a statement.

Commenting on the development, Mr Vishal Bali, Group CEO, Fortis Healthcare said, We are delighted to have Jacob Ballas and IFC as investment partners in SRL. Their interest exhibits the potential of the company as a market leader in diagnostics. We see immense opportunity for growth in the diagnostics vertical both in India and other regions of Asia. This investment will go towards our consolidation strategy to improve market share and create sector leadership. The deal is a testimony to our commitment to provide quality and cutting edge diagnostic services to our customers in India and around the world and fortifies our resolve to be the leading diagnostic services company in the country.

Commenting on the development, Mr Srinivas Chidambaram, Managing Director, Jacob Ballas Capital India, investment advisor to NJBIF said, We are pleased to assist the leading management team in the diagnostic services sector in realizing their vision to address the significant pan-India and regional potential in a historically un-organized industry, with an emphasis on quality, reliability and service. Having made significant investments in world class diagnostics infrastructure, a team of well qualified healthcare professionals and modern diagnostic techniques, SRL is ideally positioned to benefit patients, healthcare institutions and doctors nationwide.

Commenting on the development, Thomas Davenport, Director for South Asia, IFC said, IFC is partnering with SRL to help the company expand its existing network of laboratories across India. This will help provide advanced, high quality diagnostics services especially in several low income states of India, which is a key priority for IFC.

Super Religare Laboratories (SRL) is one of the leading diagnostic services companies in India. It offers diagnostic testing (including pathology and radiology), preventive care testing and clinical research trial testing.

Jacob Ballas Capital India is a leading private equity advisor based in New Delhi, advising three India focused Mauritius based private equity funds (NYLIM Jacob Ballas Funds) with funds under management of over $600 million.

International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector.

Fortis Healthcare's consolidated net profit jumped 41.3% to Rs 41.54 crore on 208.7% growth in net sales to Rs 1269.49 crore in Q4 March 2012 over Q4 March 2011.

Fortis Healthcare (FHL) is an integrated healthcare delivery provider in the Pan Asia-Pacific region. The healthcare verticals of the company span primary healthcare, speciality day care, diagostics and hospitals, with an asset base in 10 countries.