Jain Irrigation Systems completes debt restructuring of Rs 3878 cr

Jain Irrigation Systems has successfully implemented the debt resolution effective 25 March 2022. The total amount of the debt restructured is Rs 3878 crore. About 40% of the total debt has been converted into long term non-convertible debentures at an interest rate of 0.01%. Out of the proposed infusion of equity by promoters along with investors Rs 267 crore, 40% has already been infused while the balance infusion is expected over the period of 18 months. The lenders have been issued approximately 7.89 crore ordinary equity shares. During the period, the company also restructured overseas bonds of USD 200 million.

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