Fortis HealthWorld mulls public issue
Fortis HealthWorld Ltd, retail arm of Fortis Group, may tap the market for its expansion plans in future.
By PTI |
CHANDIGARH: Fortis HealthWorld Ltd, retail arm of Fortis Group, may tap the market for its expansion plans in future.
"Eventually, we will look at raising money through a public issue as the market evolves but it will take time," Fortis HealthWorld CEO Ashish Kirpal Pandit said on Friday.
In Fortis HealthWorld, which was floated last year, Shivinder Mohan Singh and Malwinder Mohan Singh have equal share, he said, while inaugurating a store here in Chandigarh.
Earlier, Fortis HealthWorld had announced it would set up 1,000 stores in over 400 cities with an investment of Rs 800 crore across the country. It had decided to fund this project through internal accruals and debt.
Fortis HealthWorld has stores in and around Delhi and NCR, Rajasthan, Uttar Pradesh and Punjab. The new store is apart of the company's national expansion plan, Pandit said.
The Fortis HealthWorld stores are not just a pharmacy but a "One Stop Shop" providing a host of health products and value added services that encourage the customer to come to us for "Not being sick," he said.
Pandit, however, refused to share any detail regarding generation of business out of this venture.
"Eventually, we will look at raising money through a public issue as the market evolves but it will take time," Fortis HealthWorld CEO Ashish Kirpal Pandit said on Friday.
In Fortis HealthWorld, which was floated last year, Shivinder Mohan Singh and Malwinder Mohan Singh have equal share, he said, while inaugurating a store here in Chandigarh.
Earlier, Fortis HealthWorld had announced it would set up 1,000 stores in over 400 cities with an investment of Rs 800 crore across the country. It had decided to fund this project through internal accruals and debt.
Fortis HealthWorld has stores in and around Delhi and NCR, Rajasthan, Uttar Pradesh and Punjab. The new store is apart of the company's national expansion plan, Pandit said.
The Fortis HealthWorld stores are not just a pharmacy but a "One Stop Shop" providing a host of health products and value added services that encourage the customer to come to us for "Not being sick," he said.
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Pandit, however, refused to share any detail regarding generation of business out of this venture.
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