Allow IHH to proceed with open offer for Fortis: SEBI to SC

Market regulator SEBI has urged the Supreme Court to allow Malaysia's IHH Healthcare to proceed with an open offer to buy additional stake in Fortis Healthcare. SEBI said open offer was mandatory under its rules after IHH had acquired 31% stake in Fortis. SC froze the IHH-Fortis deal in 2018, but IHH completed the transfer before that, the regulator added.