Manipal Health Enterprises today revised yet again its offer for Fortis Healthcare Ltd (FHL), raising the value to Rs 8,358 crore. "For the purposes of the merger, we propose a value of Rs 8,358 crore to be attributed to FHL and a value of Rs 6,070 crore to be attributed to MHEPL," the revised offer said, as per the FHL filing on BSE. It translates into Rs 160 per equity share. MHEPL also offered to subscribe to equity shares of FHL by way of preferential allotment for Rs 2,100 crore at a price per equity share of Rs 160. The move is aimed at helping FHL deal with short term liquidity concerns, repayment of existing loans and payment for the acquisition of the relevant Indian entities from Religare Health Trust (RHT), MHEPL said in its revised offer to FHL board. Manipal Health Enterprises Pvt Ltd (MHEPL) has offered to merge it with FHL to create one of the leading healthcare platforms in India, the filing said. On April 24, MHEPL had revised its offer for Fortis Healthcare again, raising the value to Rs 6,322 crore. The earlier revised offer of April 10 valued Fortis hospital business at Rs 6,061 crore. As per today's offer, MHEPL said that post the acquisition of the SRL stake from PE investors, the SRL board would be restructured so as to ensure that no member of the promoter group of FHL is part of it. "The implementation of the new offer does not require any further due diligence to be conducted by us and we are ready to work with FHL and its management to ensure swift execution of the steps required to be taken to implement the revised offer," MHEPL further said. The company recognises the significance of the acquisition of assets from RHT and the preferential allotment will help FHL to partly fund the acquisition of assets from RHT, it added. IHH Healthcare Berhad and the Munjals-Burmans combine have already revised upwards their offers for Fortis ahead of the deadline set by the board of the healthcare chain for submission of binding bids. While IHH increased its offer to directly invest in Fortis Healthcare at Rs 175 per share, the Munjals- Burmans also said they would increase their investment to Rs 1,800 crore, without any due diligence, from a previously revised offer of Rs 1,500 crore. Fortis board is scheduled to meet on May 10 to take a decision on the binding bids for the company as recommended by the expert advisory committee (EAC). Fortis has received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal\/TPG consortium, and Munjal and Burman family offices. The fifth bidder, Fosun Health Holdings, an arm of Fosun International, which made a non-binding proposal to invest a total of USD 350 million (over Rs 2,295 crore) at a price up to Rs 156 per share, has so far not revised its offer.