Jain Irrigation gets nod to mop up about Rs 610 crore

17 Oct 2012

Jain Irrigation Systems has received its board’s approval to raise about Rs 610 crore through a combination of preferential issue and foreign currency bonds. The company’s board has also approved a preferential issue of 4.97 crore shares of Rs 80 each to non-promoters to raise about Rs 398 crore and raising $40 million (around Rs 211.76 crore) through FCCBs.

Further, the company has received in an amount of $75 million as long term (6-10 years) External Commercial Borrowings (ECB) from IFC, a part of World Bank, and others.

Jain Irrigation is a farmer-centric company and micro irrigation has been its mainstay since the mid-1980s. The company has pioneered a green revolution through micro-irrigation technology, which comprises mainly of drip and sprinkle systems.

Related Jain Irrigation Systems Ltd. Links:

Jain Irrigation Sys Share Price

12.05 -0.60 (-4.74%) Nov 18, 16:29
1 Year Price Chart
Company Name CMP
Supreme Industries 1138.85
Jain Irrigation Sys 12.05
Uflex 205.90
Jindal Poly Films 233.80
Finolex Inds 573.75
View more..
Sensex vs Jain Irrigation Sys
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719