Jain Irrigation System provides update on subsidiary

Jain Farm Fresh raises funds worth Rs 402.2 crore

Jain Farm Fresh, a subsidiary of Jain Irrigation System has successfully raised Rs 402.2 crore from funds managed by Mandala Capital, an investment manager focused exclusively on Indian Agribusiness. Jain Farm Fresh made a preferential issue of equity shares and compulsorily convertible debentures to Mandala for the total subscription amount of Rs 402.2 crore. 60% of the investment is in equity shares and balance in CCDs. The Company will used these proceeds to fund future growth under its capital investment programme.

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