Private Equity

PE Fund Investments

Jain Irrigation to get fresh capital infusion in 18 months

Business Line  

Jain Irrigation Systems is looking to get a capital infusion of INR 160 crore from promoters and investors in 18 months. The company completed the debt resolution on March 25 as per the master restructuring agreement signed in February. Lenders have restructured debt of INR 3,878 crore and converted about 40% of the total debt into long-term Non-Convertible Debentures (NCDs) at an interest rate of 0.01 %. The company issued about 7.89 crore of equity shares to lenders and restructured the overseas bonds of USD 200 million.