Improved business performance and expected unlocking from the listing of its 57 per cent diagnostic subsidiary, SRL, helped the Fortis stock gain 20 per cent over the past month. On August 4, the board of directors had given in-principle approval to demerge the diagnostic business.
A restructuring committee, formed to decide on the structure of the demerger process, including valuations and share entitlement, is expected to report by this Friday. SRL is currently valued at around Rs 5,000 crore. This could move up, going by the valuation of two listed diagnostic entities, Dr Lal PathLabs and Thyrocare Technologies. This is because Dr Lal Pathlabs commands a valuation of 28 times the FY18 enterprise value …
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