The shares of Fortis Healthcare dropped 4% to Rs 146 on the Bombay Stock Exchange on Friday, a day after the company approved an offer from Hero Enterprise and Dabur chairman Anand Burman’s family office to invest Rs 1,800 crore into the firm. At 11.13 am, the share price was 3.5% down at Rs 148.95.

Hero Enterprise is an investment company formed by Sunil Kant Munjal, a member of the family that runs motorcycle maker Hero. The Burman Family Office is the private investment arm of the company that owns Dabur India. While Munjal is the president of Dayanand Medical College and Hospital in Ludhiana, the Burman family has healthcare enterprises such as Dabur Pharma and Healthcare at Home, reported Moneycontrol.

As per the offer, Hero Enterprise and Burman Family Office will invest Rs 800 crore upfront through an issue of preferential shares for Rs 167 each. The group will put in another Rs 1,000 crore through warrants at Rs 176 per share. Owners of preference shares – shareholders of a company – get fixed dividend.

“The board, post having the detailed discussions on the pros and cons of each offer, decided by majority, to recommend the offer of Hero Enterprise Investment Office-Burman Family the shareholders for approval,” Fortis stated in a filing.

The Hero-Burman group has also sought three seats on the board and proposed to sell diagnostics chain SRL Laboratories, a subsidiary, Mint reported. The proceeds will be used to buy assets of RHT Holdings, a trust that holds Fortis’ real estate assets.