Further, the letter said,"Allotment and pricing shall be as per SEBI ICDR guidelines for preferential issues or Rs 156 per share which is higher." The utilisation of proceeds from this funding shall only be for the purposes of payment of employee dues, repayment of loans which have matured and payment of pressing creditors and to monitor these a board seat shall be given to investors, it added. The rest Rs 750 crore shall be given after due diligence subject to the satisfaction of the investors which will be completed in three weeks, the letter added. Their offer comes two days after Manipal Health Enterprises raised its offer for Fortis Healthcare Ltd by valuing the hospital business higher at Rs 6,061 crore which would result in a "more favourable share exchange ratio for shareholders of FHL". Read also: Manipal Health raises offer for Fortis Healthcare- Firm now valued at Rs 6,061 crore