Malaysia's IHH and two Indians boost bids to invest in Fortis

A Fortis hospital building is pictured in New Delhi. Suitors including Chinese conglomerate Fosun International Ltd are vying for Fortis after the company

BENGALURU: Cash-strapped Indian hospital operator Fortis Healthcare Ltd said two of its five suitors had boosted their bids to invest in the company as of a deadline for binding offers yesterday.

Malaysia’s IHH Healthcare Bhd lifted its offer to 175 rupees a share, a 9.4% premium to an earlier proposal. IHH earlier proposed injecting 6.5 billion rupees (US$98mil) immediately into Fortis, and then 33.5 billion after due diligence.