Jain Irrigation Systems' board has approved raising funds up to ₹500 crore through a Qualified Institutions Placement (QIP).
The board has approved the issuance of equity shares with a face value of ₹2 each and/or other eligible securities, or any combination thereof, in one or more tranches, according to a regulatory filing on September 2, 2025.
The QIP is subject to the receipt of regulatory and statutory approvals, including the approval of the company's shareholders.
The pricing will be determined in accordance with Chapter VI of the SEBI (ICDR) Regulations, 2018. The offering may be executed in one or more tranches, as decided by the Board or Committee.
The company also announced that the board approved the draft notice of the 38th AGM along with the Explanatory Statement pursuant to Section 102(1) of the Companies Act, 2013, for circulation to shareholders electronically. The Notice, Explanatory Statement, and PDF version of the Annual Report for FY 2024-25 will be shared separately, later when issued.
The board also approved the book closure for the purpose of the 38th AGM. The detailed intimation regarding the book closure dates will be submitted separately later today.
The meeting of the Board of Directors commenced at 11:00 AM and concluded at 12:30 PM.
The QIP requires shareholders' approval and statutory/regulatory approvals, as applicable.
Equity Shares of face value ₹2/- each and/or other eligible securities, or any combination thereof.
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