Jain Irrigation Systems on Tuesday said it plans to raise up to Rs 500 crore by selling shares to institutional investors. In a regulatory filing on Tuesday, the company informed that the Board approved the company's plan to raise funds through Qualified Institutional Placement (QIP). "The Board approved the raising of funds by way of issuance of equity shares combination thereof, in one or more tranches ... for an amount not exceeding Rs 500 crore by way of Qualified Institutions Placement (QIP) ..," Jain Irrigation Systems said. The decision is subject to the receipt of such regulatory/statutory approvals as may be required, including the approval of the shareholders of the company. In July, Jain Irrigation Systems reported an 8.5 per cent fall in consolidated net profit to Rs 11.19 crore for the latest quarter ended June 2025. Its net profit stood at Rs 12.23 crore in the year-ago period. The total income rose to Rs 1,547.68 crore in the April-June period of 2025-26, from Rs ..
The push aligns with the state's long-term plan to unlock growth in the tribal-dominated Bastar region as security forces report breakthroughs in anti-Maoist operations
The uptick follows the company's recent signing of a MoU with the Coffee Board of India, aimed at the commercial launch of advanced, high-quality, disease-resistant coffee plants.
Going forward Jain Irrigation Systems will focus on improving the India business to drive higher growth and margin in one of the fastest growing irrigation markets in the world
The cash proceeds will be used to pay off Rs 2,700 crore of overseas debt
The debt recast covered aspect like converting about 40 per cent of the total debt into long term non-convertible debentures at an interest rate of 0.01%
The company missed certain principal payments under its working capital facilities and S&P sees a "high likelihood" that the firm would be classified as a nonperforming asset by its bankers
The Maharasthra-based Jain Irrigation makes micro- irrigation systems, PVC and HDPE pipes, plastic sheets and agro-processed products, among others.
The stock surged 9% to Rs 108.80 on BSE, trading close to its 52-week high of Rs 109.25.
This issue marks the successful debut of Jain Irrigation in the US dollar bond market
The stock was 4% at Rs 104 after the company posted a profit of Rs 28 crore in Q2FY17 against loss of Rs 5.4 crore in the same quarter last year.