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    Jain Irrigation in advanced talks to sell 30% in NBFC

    Jain Irrigation Systems, which makes dehydrated onions, is in advanced talks with two to five entities, including private equity players, to sell 30% stake in its non-banking financial venture, a top official told reporters on Thursday.

    February 03, 2011 / 16:01 IST

    Jain Irrigation Systems, which makes dehydrated onions, is in advanced talks with two to five entities, including private equity players, to sell 30% stake in its non-banking financial venture, a top official told reporters on Thursday.

    The company expects its receivables to come down by Rs 1,000 crore in two years due to its non-banking finanical venture, Managing Director Anil Jain said.

    The company will wait for market conditions to improve before going ahead with its planned equity sale and expects promoter holding to be 29% after the dilution, Jain said.

    first published: Feb 3, 2011 03:28 pm

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