{"id":107419,"date":"2023-08-18T13:38:03","date_gmt":"2023-08-18T08:08:03","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=107419"},"modified":"2023-08-18T13:38:05","modified_gmt":"2023-08-18T08:08:05","slug":"jain-irrigation-will-raise-rs-200-cr-by-issuing-equity-share-warrants-with-a-preference","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/jain-irrigation-will-raise-rs-200-cr-by-issuing-equity-share-warrants-with-a-preference\/","title":{"rendered":"Jain Irrigation will raise Rs. 200 Cr by issuing equity share warrants with a preference."},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2525896239\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Jalgaon is home to the global conglomerate known as Jain Irrigation Systems, or Jains. It creates, produces, provides support for, and markets a variety of goods, including drip and sprinkler irrigation systems.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1460482834\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/JISLJALEQS\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Jain Irrigation Systems<\/a><\/strong> (JIS) on Thursday said it is planning to raise around Rs 200 crore through preferential allotment of equity share warrants.<\/p><p>The price for the 1,63,21,607 equity share warrants &#8212; to be worked out under a certificate of the statutory auditor &#8212; is likely to be about Rs 46.64 per equity share, the company said in a regulatory filing.<\/p><p>The funds raised by way of promoter allotment would be about Rs 76.12 crore.<\/p><div class=\"trade-content_5\" id=\"trade-1472200755\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Similarly, to meet its various obligations, an Alternative Investment Fund (AIF) named Alpha Alternatives Structured Credit Opportunities Fund &#8212; a special purpose vehicle of Alpha Alternatives Holdings and its associates &#8212; will subscribe to 2,64,64,823 equity share warrants at an aggregate of Rs 123.43 crore, the filing said.<\/p><p>Both warrants shall be converted into equity shares in 18 months, it said.<\/p><p>The company has also proposed to raise debt through its subsidiary Jain Farm Fresh Foods (JFFFL) by issuing non-convertible debentures worth Rs 145 crore and redeemable preference shares, or optionally convertible preference shares, amounting to Rs 20 crore.<\/p><p>JIS has also issued corporate guarantees for some of the loans of its non-banking financial company Sustainable Agro-Commercial Finance Ltd (SAFL), it said.<\/p><p>&#8220;After these corporate actions, we expect SAFL to become debt free and no additional funding or support will be required from the parent company,&#8221; JIS said.<\/p><p>The fundraising has been principally approved and is subject to due diligence, documentation and necessary approvals from lenders, the company added.<\/p><div class=\"trade-content-10\" id=\"trade-2343420206\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>&#8220;The strategic financial bolstering almost eliminates any risk of financial or cross-default by the relevant entities,&#8221; JIS chief executive officer Anil Jain said.&nbsp;<\/p><div class=\"trade-after-content\" id=\"trade-3014743899\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Jalgaon is home to the global conglomerate known as Jain Irrigation Systems, or Jains. It creates, produces, provides support for, and markets a variety of goods, including drip and sprinkler irrigation systems.&nbsp; Jain Irrigation Systems (JIS) on Thursday said it is planning to raise around Rs 200 crore through preferential allotment of equity share warrants. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":49601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-107419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jain Irrigation will raise Rs. 200 Cr by issuing equity share warrants with a preference. - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Jalgaon is home to the global conglomerate known as Jain Irrigation Systems, or Jains. 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