New Delhi, April 2 Shares of Basmati rice exporter Amir Chand Jagdish Kumar (Exports) were listed at a discount of more than 17 per cent against the issue price of Rs 212 on Thursday.
The stock began trading at Rs 195, down 8.02 per cent on the BSE. Later, it extended its losses by plunging 17.22 per cent to close at Rs 175.50 per share – also its lower circuit limit.
On the NSE, it started trading at Rs 200, down 5.66 per cent. Later, the stock slumped 15.09 per cent to settle at Rs 180, also its lower circuit level.
At the end of the market session, the company's market capitalization stood at Rs 1,863.93 crore on the NSE.
In terms of volume on the exchanges, 3.37 crore equity shares of Amir Chand Jagdish Kumar (Exports) were traded on the NSE, and 12.74 lakh shares were exchanged on the BSE during the day.
The Rs 440 crore Initial Public Offering (IPO) received 3.23 times subscription on the final day of the offering on March 27.
The company had fixed a price range of Rs 201-212 per share.
The Haryana-based company's IPO has a fresh issue of equity shares, with no Offer For Sale (OFS) component.
The company, known for its "Aeroplane" basmati rice brand, plans to utilize the net proceeds from the issue to fund its working capital requirements and for general corporate purposes.
The offer size has been reduced to Rs 440 crore, compared with the Rs 550 crore issue size proposed in the Draft Red Herring Prospectus (DRHP) filed in June 2025.
Amir Chand Jagdish Kumar (Exports) Ltd is a processor and exporter of basmati rice in India. The company markets its products under the flagship brand "Aeroplane".
It competes with other large basmati rice companies, including KRBL Ltd, LT Foods, and Sarveshwar Foods, and various other unorganized processors.
Apart from its core basmati rice business, the company has diversified into FMCG products, offering staples and other essential kitchen items.
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