Jain Irrigation Systems has redeemed the 4,000 FCCB’s of $10,000 each aggregating to $40 million (equivalent Rs 263.50 crore) as per the terms of the Agreement dated September 5, 2012 entered into by the company. The company has also paid redemption premium of $5.359 million totaling to Rs 35.3 crore.
In October 2012, the company had issued 5 year FCCBs of $40 million subscribed by International Finance Corporation, Washington, USA (a World Bank Arm). The FCCB’s had a conversion option up to September 15, 2017. Since conversion option was not exercised by the holder, the FCCB’s became redeemable on due date.
Jain Irrigation Systems is one of the reputed entities working with SSNNL since last 10 years in various Command Area Development Projects and having considerable role in developing Micro Irrigation in Gujarat State.
| Company Name | CMP |
|---|---|
| Supreme Industries | 3705.80 |
| Astral | 1612.85 |
| Finolex Inds | 174.70 |
| Nilkamal | 1320.05 |
| Jain Irrigation Sys | 33.05 |
| View more.. | |
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