Mandala Capital-backed Jain Farm seeks $1b valuation in planned IPO

Jain Farm Fresh Foods Ltd (JFFFL), the agri-food unit of Jain Irrigation Systems Ltd, is seeking $1 billion valuation for its proposed initial public offering (IPO). It is also looking to give an exit to private equity firm Mandala Capital, which holds a 15% stake in the firm, said two people close to the development on the condition of anonymity.