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Jain Irrigation Systems is currently trading at Rs. 41.85, up by 4.35 points or 11.60% from its previous closing of Rs. 37.50 on the BSE.

The scrip opened at Rs. 42.00 and has touched a high and low of Rs. 43.90 and Rs. 39.80 respectively. So far 3285722 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 53.50 on 13-Oct-2021 and a 52 week low of Rs. 24.80 on 23-Jun-2021.

Last one week high and low of the scrip stood at Rs. 43.90 and Rs. 30.30 respectively. The current market cap of the company is Rs. 2414.86 crore.

The promoters holding in the company stood at 26.91%, while Institutions and Non-Institutions held 16.70% and 56.40% respectively.

Jain Irrigation Systems is planning to merge its global irrigation business with Temasek-owned Rivulis in a cash-and-stock deal, a move that will help the company reduce its consolidated debt by Rs 2,700 crore or around 45 per cent.

Jain Irrigation's global irrigation business has been valued at Rs 4,200 crore, of which Rs 2,700 crore will be used to repay its all overseas debt and Rs 200 crore will come to the parent company. In the merged entity, it will have 22 per cent equity stake while Rivulis will hold 78 per cent. The deal is likely to be concluded in the next six months and the combined entity will have a revenue of $750 million.

Jain Irrigation Systems (JISL) is an Indian multinational company with manufacturing plants across the globe. JISL, its subsidiaries and associates are engaged in manufacturing of Micro Irrigation Systems, PVC Pipes, HDPE Pipes, Plastic Sheets, Agro Processed Products, Renewable Energy Solutions, Tissue Culture Plants, Financial Services and other agricultural inputs.