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| Exchange Disseminated Time 06/11/2015 11:38:20 | Jain Irrigation Systems Ltd_DVR has informed BSE that the meeting of Securities Issuance Committee (1 & 2) of the Board of Directors of the Company was held on November 06, 2015, which considered and approved the following:
1. Issue of upto 14.10 Mn Equity Warrants of Rs. 80/- each aggregating to Rs. 1,125.60 Mn to Promoter Group entity(s).
2. Raising Funds through issuance of upto 36.20 Mn Compulsorily Convertible Debentures of Rs. 80 each for an aggregate amount of Rs. 2,896 Mn (USD 43.2 million) to funds/entity managed by Mandala Capital Limited.
3. To convene an Extra Ordinary General Meeting of the Shareholders of the Company to be held at Jalgaon at 11.00 AM on December 03, 2015 for obtaining approval of Shareholders for the following special business:
a) Issue of 14.10 Mn Equity Warrants of Rs. 80/- each aggregating to Rs. 1,125.6 Mn to Promoter Group entity(s).
b) Raising Funds through issuance of upto 36.20 Mn Compulsorily Convertible Debentures of Rs. 80 each for an aggregate amount of Rs. 2,896 Mn (USD 43.2 million).
4. In a separate Board meeting Jain Farm Fresh Foods Limited (the 'JFFFL') (Wholly Owned Subsidiary of Jain Irrigation Systems Limited) decided to issue its Equity Shares and Compulsorily Convertible Debentures ('CCDs') for an aggregate amount of $ 60 Mn (Rs. 4,020 Mn) to funds managed by Mandala Capital Limited through preferential allotment after obtaining approval its shareholders in the General Meeting to be held. |
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