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Jain Irrigation Systems surges on redeeming FCCB’s worth $40 million

17 Oct 2017 Evaluate

Jain Irrigation Systems is currently trading at Rs. 95.70, up by 2.20 points or 2.35% from its previous closing of Rs. 93.50 on the BSE.

The scrip opened at Rs. 94.15 and has touched a high and low of Rs. 96.70 and Rs. 94.15 respectively. So far 485466 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 119.80 on 25-Apr-2017 and a 52 week low of Rs. 79.80 on 22-Dec-2016.

Last one week high and low of the scrip stood at Rs. 99.00 and Rs. 92.30 respectively. The current market cap of the company is Rs. 4755.19 crore.

The promoters holding in the company stood at 28.46%, while Institutions and Non-Institutions held 44.23% and 27.31% respectively.

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.

Jain Irrigation Sys Share Price

33.05 -1.16 (-3.39%)
17-Apr-2026 16:59 View Price Chart
Peers
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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