Jain Irrigation Systems has raised Rs 289.60 crore from agri-business funding firm Mandala Capital to repay its borrowings. This fund raising is part of a total equity investment of $120 million, including an investment by Mandela in Jain Farm Fresh Foods (JFFL), a wholly-owned subsidiary of JISL under which its global food business is being organised. The company will use these funds as agreed under the agreement with Mandala for the purpose of repayment of its borrowings.
Jain Irrigation Systems is a manufacturer of a wide variety of PVC pipes, PE pipes, water and gas transportation pipes, ducts for optical fibre cables and drip irrigation pipes. It is also engaged in tissue culture of bananas and pomegranates and is the world’s largest processor of mangoes and is the world’s second largest processor of onions and vegetables.
| Company Name | CMP |
|---|---|
| Supreme Industries | 3705.80 |
| Astral | 1612.85 |
| Finolex Inds | 174.70 |
| Nilkamal | 1320.05 |
| Jain Irrigation Sys | 33.05 |
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