JAIN IRRIGATION SYSTEMS LTD.
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Jain Irrigation Systems Ltd. is one of India's largest integrated agribusiness players, with manufacturing operations in micro irrigation systems and piping systems, PVC sheets, agro processed products and renewable energy. Jain is the second largest micro irrigation systems player globally and is the leading market player in India.
What is our funding objective?
FMO has invested in a senior debt facility and a foreign currency convertible bond that will be provided to Jain Irrigation Systems Ltd. as part of a larger financing package. The funds of the financing package will be used by Jain to expand its domestic capacity in India, helping the company to remain a market leader in the country and to continue international expansion in several countries in Africa.
Why do we fund this investment?
Adoption of micro irrigation systems by farmers increases farm yields and decreases the dependency on weather conditions, having a direct positive impact on farmers' income. Furthermore, it improves water management. In India, 80% of water resources is used for agriculture; hence maximizing water usage is essential.
More investments
| Date | Total FMO financing |
|---|---|
| 2/27/2013 | USD 5.00 MLN |
| 2/26/2013 | USD 3.00 MLN |
- Website customer/investment
- http://www.jains.com
- Region
- Asia
- Country
- India
- Sector
- Agribusiness, Food & Water
- Effective date
- 2/26/2013
- Total FMO financing
- USD 17.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B