IHH Press Release on Supreme Court Disposal of SLP and Plan to Raise Stake to 51%

IHH Healthcare has issued a media statement after the Supreme Court disposed of Fortis' SLP against the Delhi HC order requiring a forensic audit.

Tue 29 Sep 2026

Investment Amount

INR 4,000 crore

Current Stake

31%

Planned Stake Increase

51% over 3-5 years

Bed Expansion Target

~10,000 beds by 2031

Investment Year

2018

What was shared

Fortis Healthcare disclosed, under Regulation 30, a copy of a media statement issued by IHH Healthcare Berhad on Bursa Malaysia and SGX. The event occurred on 28 September 2026 at 3:21 PM (IST).

The legal backdrop

On 25 September 2026, the Supreme Court of India disposed of the Special Leave Petition shared by Fortis Healthcare challenging the Delhi High Court's order requiring a forensic audit in relation to Fortis, along with certain observations made about the company.

IHH's stated position

• Its subsidiary Northern TK Venture Pte Ltd acquired its stake in Fortis in 2018 through what it describes as a transparent, widely public and fully regulated competitive bidding process.
• The transaction obtained corporate, shareholder and regulatory approvals, including under CCI and SEBI takeover regulations.
• The investment was a preferential allotment of newly issued Fortis shares of INR 4,000 crore for a 31% stake, together with a mandatory tender offer to public shareholders.
• No secondary shares were acquired from the former promoters and judgment debtors, Mr Malvinder Mohan Singh and Mr Shivinder Mohan Singh, and no payments were made to them.
• The Singh brothers resigned from the Fortis board in March 2018; Fortis was then overseen by a reconstituted three-member independent board appointed by activist minority investors. IHH's investment took place in November 2018.
• IHH states it was not a party to the dispute or execution proceedings between Daiichi Sankyo and its judgment debtors, and says it suffered losses from delays in obtaining mandatory tender offer approvals.
• IHH says it will fully cooperate with the forensic audit.

Forward-looking intentions stated

• Over the next three to five years, IHH plans to increase its stake in Fortis to 51%.
• It intends to further integrate the Fortis and Gleneagles platforms.
• It plans to expand capacity to approximately 10,000 beds by 2031.

About IHH as described

IHH operates across 10 countries with a 76,000-strong team and 190 healthcare facilities, including 89 hospitals, spanning primary to quaternary care, diagnostics, imaging, rehabilitation, telehealth and home care.

How investors may read this

The statement combines an ongoing legal and forensic-audit overhang with a clear stated intent by the majority shareholder to deepen its investment in India through Fortis. The forensic audit is yet to run its course, so the outcome remains open, while the stake-increase and bed-expansion plans are stated intentions over a multi-year horizon.

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