Jain Irrigation Systems plans to raise $75 million via FCCBs

Jain Irrigation Systems is planning to raise up to $75 million through foreign currency convertible bonds (FCCBs) mainly for redemption of existing bonds. The board of company at its meeting held on February 25, 2017 has approved for the same. 

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.