Jain Irrigation Systems Ltd approves issue of $75 mn FCCB issue

The meeting of Sub Committee of the Board of Directors of Jain Irrigation Systems Ltd was held on February 25, 2017 which considered and approved the issue of FCCBs upto USD 75 million to non-promoter entities.

The Board also approved proposal to convene Extraordinary General Meeting of the Shareholders of the Company to be held at Jalgaon at 11.00 AM on Friday. 24th March 2017 for obtaining approval of Shareholders for the special business of issue of FCCBs upto USD 75 million to non-promoter entities for redemption of FCCB''s worth USD 50 million issued in 2012/ 2013 and balance USD 25 million fresh issue for permitted use.

Shares of JAIN IRRIGATION SYSTEMS LTD. was last trading in BSE at Rs.93.7 as compared to the previous close of Rs. 94.85. The total number of shares traded during the day was 297128 in over 1118 trades.

The stock hit an intraday high of Rs. 95.35 and intraday low of 93.25. The net turnover during the day was Rs. 28038635.

Source : Equity Bulls

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