IHH Healthcare grants approval for Agilus IPO plans

The timing of the IPO will be determined by Agilus and Fortis.

SGX-listed IHH’s board of directors declared that Board of Directors of Fortis and the Board of Directors of Agilus to regulation 30 of Securities and exchange board of India.

In a statement, IHH said the companies had their own meetings held on 4 August 2023, where they “considered and granted their confirmation / approval for Agilus to initiate an IPO process by way of an offer of sale of such number of equity shares as may be offered by certain existing and eligible shareholders of Agilus in the IPO to comply with applicable laws.” 

“The actual timing and implementation of the IPO will be subject to the determination of Fortis’ and Agilus’ respective boards, after considering the prevailing market conditions and other relevant factors at such price determined in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018,” read the statement.

“The IPO shall also be subject to the approval of the members of Fortis, and other regulatory approvals, as required under applicable law,” it added.