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Jain Irrigation to raise $75 million via debt

Jain Irrigation to raise $75 million via debt
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First Published: Mon, Dec 24 2007. 03 02 PM IST
Updated: Mon, Dec 24 2007. 03 02 PM IST
Reuters
Mumbai: Jain Irrigation Systems Ltd plans to raise $75 million (Rs296 crore) through debt from a consortium led by International Finance Corp. and Lehman Brothers fund expansion, a senior company official said.
The company plans to spend $95 million to expand its drip irrigation, pipes and food processing facility over 18 months, company secretary A.V. Ghodgaonkar told reporters on Monday, 24 December.
The remaining $20 million will come from internal accruals, he said.
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First Published: Mon, Dec 24 2007. 03 02 PM IST