IHH Healthcare Berhad (“IHH”) has announced the successful completion of a significant transaction involving its expansion in the Indian healthcare market. The deal was finalised on 10 November 2025 and covers three major components:

• Subscription of New Shares in Fortis Healthcare Limited (“Fortis”): IHH, via its indirect wholly-owned subsidiary Northern TK Venture Pte Ltd (“NTK”), has subscribed to 235,294,117 new equity shares of Fortis (face value of INR 10 each) through a preferential allotment. This move further strengthens IHH’s position in the Indian healthcare sector.
• Mandatory Fortis Open Offer: NTK launched a mandatory open offer to acquire up to 197,025,660 shares in Fortis, representing an additional 26.10% of the expanded voting share capital. This open offer was completed as of 10 November 2025, with all shares and payments settled for tendering shareholders.
• Mandatory Malar Open Offer: NTK also completed a mandatory open offer for up to 4,894,308 shares in Fortis Malar Hospitals Limited (“Malar”), representing 26.11% of its voting share capital. This transaction was finalised alongside the Fortis Open Offer.

Impact on IHH’s Shareholding Structure

Following the completion of these transactions, IHH’s indirect shareholding in the two key Indian healthcare entities have changed significantly:

• Fortis Healthcare Limited: IHH now holds an indirect stake of 31.17% in Fortis.
• Fortis Malar Hospitals Limited: IHH’s indirect shareholding has increased to a commanding 62.73%.

These figures mark a substantial increase in IHH’s influence and operational control within both Fortis and Malar, positioning the company as a major player in the Indian healthcare industry.

Regulatory Compliance and Market Communication

The post-offer advertisements for both the Fortis and Malar open offers were published in the same newspapers in India as the earlier Detailed Public Statements (DPS) for both companies, in full compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“SEBI SAST Regulations”).

Key Points for Shareholders and Potential Market Impact

• Strategic Expansion: The completion of these transactions demonstrates IHH’s commitment to expanding its footprint in the fast-growing Indian healthcare market, which may have positive long-term implications for revenue growth and market valuation.
• Price Sensitivity: The significant increase in IHH’s shareholding in Fortis and Malar could be viewed as a positive development by investors and analysts, potentially impacting share price due to enhanced control, synergies, and growth prospects in India.
• Regulatory Milestone: The successful compliance with Indian takeover regulations and the smooth execution of open offers may reduce uncertainty and risk, further supporting investor confidence.
• Potential for Further Developments: As IHH now holds a controlling stake in Malar and a major stake in Fortis, future strategic initiatives, operational integration, and additional investments in India could arise, which investors should monitor closely.

Conclusion

This announcement is highly significant and contains price-sensitive information. IHH’s expanded presence in India through Fortis and Malar places the company in a strong position for future growth in one of Asia’s largest healthcare markets. Shareholders and potential investors should consider the strategic implications, regulatory compliance, and future opportunities stemming from this transaction.

Disclaimer: This article is based on official announcements and available public information as of 11 November 2025. It is not intended as financial advice. Investors should conduct their own due diligence and consult with professional advisors prior to making investment decisions. Market conditions may change and future developments may affect the outlook described above.

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