Ahead of its initial public offer, real estate giant DLF has entered into an agreement for floating a joint venture with Ranbaxy group company Fortis Healthcare to set up hospitals across the country with about Rs 6,200 crore of investments.
Fortis Healthcare Managing Director Shivinder Singh said that Fortis will have a majority holding with 74 per cent stake and the rest will be with DLF in the proposed joint venture.
Industry sources said an agreement for the proposed JV has already been signed.
The JV plans to set up a chain of 200-450 bed hospitals in 31 cities in India within three to five years, the sources added.
The planned investment of Rs 6,200 crore would go toward meeting cost of land, construction and medical equipments, the sources said.
Read more in The Economic Times article.
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