Jain Irrigation to Raise Rs 500 Cr via QIP

New Delhi, Sep 2 (PTI) Jain Irrigation Systems on Tuesday said it plans to raise up to Rs 500 crore by selling shares to institutional investors.

In a regulatory filing on Tuesday, the company informed that the Board approved the company's plan to raise funds through Qualified Institutional Placement (QIP).

"The Board approved the raising of funds by way of issuance of equity shares combination thereof, in one or more tranches ... for an amount not exceeding Rs 500 crore by way of Qualified Institutions Placement (QIP) ..," Jain Irrigation Systems said.

The decision is subject to the receipt of such regulatory/statutory approvals as may be required, including the approval of the shareholders of the company.

In July, Jain Irrigation Systems reported an 8.5 per cent fall in consolidated net profit to Rs 11.19 crore for the latest quarter ended June 2025. Its net profit stood at Rs 12.23 crore in the year-ago period.

The total income rose to Rs 1,547.68 crore in the April-June period of 2025-26, from Rs 1,479.24 crore in the corresponding period of the preceding year.

In 2024-25, the Maharashtra-based Jain Irrigation Systems had posted a net profit of Rs 25.69 crore on a total income of Rs 5,793.24 crore.

The company is engaged in the manufacturing of micro irrigation systems, PVC P pipes, HDPE pipes, plastic sheets, agro-processed products, renewable energy solutions, tissue culture plants, financial services and other agricultural inputs.