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Employees sit on the helpdesk reception of the Fortis Memorial Hospital at Gurgaon on the outskirts of New Delhi, India, May 20, 2015.Reuters file

Investors could see yet another roller-coaster ride in the share price of Fortis Healthcare, the Indian hospitals' chain, in the coming days in the context of a new report that says Malaysia's IHH Healthcare Berhad could still acquire a stake in the company. The news comes almost a month after the share price crashed after the Malaysian entity reportedly pulled out of talks for acquiring the stake.

The share price has been swinging wildly in the past one month, from Rs 190 on June 21 to Rs 148 on July 17 before closing at Rs 164 on Friday (July 21) on the Bombay Stock Exchange. The 52-week high for the stock is Rs 230.

Also read: Fortis Healthcare shares crash despite company keeping options open on stake sale

The latest report, by news agency BloombergQuint, said that a proposed fund-raising to the tune of $2 billion by IHH Healthcare's subsidiary Parkway Pantai Ltd. suggests that the deal is still "alive."

Parkway Pantai, in a regulatory filing, said "that proceeds from the issuance of the notes and perpetual securities shall be utilised for the Group's investments, capital expenditure and general corporate purposes," according to the news agency.

An investment banker also told the BloomberQuint that the funds raised would eventually be used to acquire a stake in Fortis Healthcare, though a timeframe was not mentioned.

IHH Healthcare's business interests in India are held via Parkway Pantai, which has seven hospitals and three feeder units in the country, the news agency said.

Interestingly, one of the promoters of Fortis Healthcare sold 13.5 million shares in two tranches (4.90 million shares at Rs 150.02 apiece and 8.6 million shares at Rs 150.91) on July 19 on the National Stock Exchange (NSE).

Promoters, including Malvinder and Shivinder, own 42.96 percent in Fortis Healthcare, according to the shareholding pattern as of June 30, 2017, filed by the company with the BSE. Foreign portfolio investors hold 32.65 percent.

For the year ended March 31, 2017, Fortis Healthcare reported consolidated revenues of Rs 4,573 crore and a net profit of Rs 479 crore. The company is yet to declare its June quarter results.