IHH Healthcare’s indirect subsidiary to withdraw IPO plans

As at 3.33pm, shares in IHH are trading flat at $1.74.

Agilus Diagnostics, the 31.17%-owned indirect subsidiary of IHH Healthcare Q0f and a material subsidiary of Fortis Healthcare, is cancelling its plans to hold an initial public offering (IPO) on the Securities and Exchange Board of India (SEBI)

According to IHH, the private equity investors, as well as the board of directors at Fortis and Agilus, have agreed to withdraw the draft red herring prospectus following meetings held on Feb 13.

Agilus will apply to the SEBI to withdraw its prospectus immediately and may re-file with the exchange for a proposed IPO in future.

As at 3.33pm, shares in IHH are trading flat at $1.74.

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