Fortis Malar Hospitals

Fortis Malar Hospitals Limited was established in 1989 to set up, manage, and operate a multi-speciality hospital in the Indian healthcare sector. However, after a slump sale transaction on February 1, 2024, the company divested its business operations to MGM Healthcare Private Limited. As a result of this sale, the company has ceased all its business activities and is no longer carrying on any trade or business. Management currently has no visibility of starting new business operations and is working with legal advisors to finalize a future plan. Its subsidiary, Malar Star Medicare Limited, has initiated the process to convert into a Section 8 company to focus on research and development. After the divestment, the company distributed its free reserves to shareholders, which included a final dividend of ₹2.50 per equity share.;