Jain Irrigation to raise $200 million, shares fall

Shares in Jain Irrigation traded lower on the bourses Wednesday over concerns of equity dilution. Asia’s biggest irrigation-equipment maker's share prices have fallen 25 per cent over the last month on account of a weak June quarter and a series of block deals. Jain Irrigation's board has approved fund raising of $200 million via a mix of debt and equity. The company will raise $ 73 million (Rs 405 crore) via preferential allotm...