Tuesday, 11 November 2014

Jain Irrigation Systems to incorporate wholly owned subsidiary

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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