According to a BSE filing made on Friday, Ramnath who is a former MD and CEO of ICICI Venture and Bhasin, President, Society of Indian Law Firms and Managing Partner, Bhasin & Co. are part of the committee, which the company's board has set up to evaluate all binding proposals for fund infusion.
The panel is lead by Deepak Kapoor, Former Chairman and CEO of Price Waterhouse Coopers, India. The committee has been "requested to provide a report of its recommendation to the Board, by April 26, 2018".
The panel is likely to meet by April 25 to decide on the merger or buy offers, Brian Tempest, Director of Board, Fortis Healthcare, said on Thursday.
In a separate filing made on late Thursday night, Fortis Healthcare disclosed that it has received "an unsolicited non-binding expression of interest (EoI)" from KKR-backed Radiant Life Care with "a proposal for making investment and or re-structuring the company subject to certain conditions as mentioned in the offer letter".
As per the filing, Radiant Life Care, in its letter to the company's Board on Thursday, made an offer to buy out 26 per cent stake in the company at a price of Rs 126 per share, excluding the SRL Diagnostics' business.
On Thursday, Fortis Healthcare had said its Board has received two improved binding offers to invest in the company from Hero Enterprise Investment Office and the Burman family Office as well as IHH Healthcare Berhad.
The new binding offer from Hero Enterprise Investment Office and the Burman Family Office entails an investment of Rs 1,500 crore directly in the company and will replace the original offer made to the Board on April 12, 2018.
On April 12, 2018 Hero Enterprise promoted by Sunil Munjal and the Burman family offered to invest Rs 1,250 crore directly in Fortis Healthcare.
The company had revealed that it has received a "supplemental proposal" from IHH.
On April 14, the company reported that it has received EoI from IHH Healthcare Berhad for possible due diligence and participation with the company.
The IHH in its letter to the company's Board on April 11, 2018 made an offer of Rs 160 per Fortis share.
Besides IHH, Fortis Healthcare has received "an unsolicited non-binding expression of interest (EoI)" from Fosun Health Holdings for a possible due diligence.
Fosun Health Holdings, in its letter to the company's Board, made an offer of a "primary infusion at a price up to Rs 156 per share, subject to due diligence to be completed within three weeks, up to a total investment of $350 million" including a preliminary investment of up to Rs 100 crore.
However, Fortis Healthcare on March 27 had announced plans to demerge its hospitals business (Fortis Hospitals) into Manipal Hospital Enterprises Private Ltd (Manipal Hospitals).
The company at that time said the proposed transaction is subject to shareholders' approval, creditors' approval, applicable regulatory approvals (including Competition Commission of India, SEBI, stock exchanges and National Company Law Tribunal and other customary conditions precedent.
The company's board has also approved the sale of its 20 per cent stake in SRL Ltd to Manipal Hospitals.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
