Jain Irrigation Systems has received an approval for
incorporation of wholly owned subsidiary to house its existing global
food processing business. The board of directors at their meeting held
on November 10, 2014 has approved for the same.
Further,
the management was further authorized to take necessary steps to
complete all legal and regulatory processes. The Board has also further
authorized the management to explore value creation opportunities based
upon minority dilution in the same.
Jain
Irrigation Systems is a manufacturer of a wide variety of PVC pipes, PE
pipes, water and gas transportation pipes, ducts for optical fibre
cables and drip irrigation pipes. It is also engaged in tissue culture
of bananas and pomegranates and is the world’s largest processor of
mangoes and is the world’s second largest processor of onions and
vegetables.
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