Agilus Diagnostics, a Fortis Healthcare subsidiary, announced the withdrawal of its IPO draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (Sebi). The decision, made for commercial considerations in consultation with private equity investors, led to a 3.23% fall in Fortis Healthcare stocks. The IPO, as per the September 2023 DRHP, involved an offer for sale of 14.2 million equity shares by investors such as International Finance Corporation and NYLIM Jacob Balls India Fund III LLC. Agilus Diagnostics, focusing on wellness and preventive care diagnostic services, may re-file for an IPO in the future.
Agilus Diagnostics Withdraws IPO Plan, Fortis Healthcare Stocks Drop
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