Jain Irrigation Systems raises $10 million via private placement of FCCB’s

07 May 2013

Jain Irrigation Systems has raised $10 million (Rs 54 crore) through private placement of Foreign Currency Convertible Bond (FCCB). The Securities Issuance Committee of the Board of Directors of the Company decided to allot 1,000 FCCB's with a par value of $10,000 each on May 04, 2013. Meanwhile, the bond which will mature in 2018, have a coupon rate of 3% per annum.

Jain Irrigation Systems manufactures drip and sprinkler irrigation systems, solar water heating systems and agro-processed products, among others

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