Fortis Healthcare (India) is planning to raise $300 mn by spinning off its non-core business into a separate company, which will then be listed on the Singapore Stock Exchange, according to reports.
Reports stated that Hospitals operator Fortis, controlled by billionare brothers Malvinder and Shivinder Singh, expects the restructuring to be completed by the middle of next month.
The initial public offering is likely to hit the market in May or June this year, reports said.