IPO Details and Valuation
New Delhi, March 19: Basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd has set the price band for its upcoming Initial Public Offering (IPO) at Rs 201 to Rs 212 per share, valuing the company at around Rs 2,200 crore.The company’s maiden public issue, aggregating to Rs 440 crore, will open for subscription on March 24 and close on March 27. Bidding for investors will begin a day earlier on March 23.
Issue Structure and Allocation
The proposed IPO will consist entirely of a fresh issue of equity shares, with no Offer For Sale component included in the offering.In terms of allocation, 50 percent of the issue has been reserved for qualified institutional buyers, 35 percent for retail investors, and the remaining 15 percent for non-institutional investors.
Utilisation of Proceeds
According to the company, the net proceeds from the IPO will be primarily used to meet working capital requirements, along with funding general corporate purposes.Pre-IPO Fundraising and Revised Issue Size
Ahead of the public issue, the company raised Rs 13 crore through a pre-IPO placement by allotting 7.55 lakh shares at Rs 172 per share.The IPO size has been revised downward to Rs 440 crore from the earlier proposed Rs 550 crore mentioned in the Draft Red Herring Prospectus filed in June 2025.
Regulatory Approval and Listing Timeline
The Securities and Exchange Board of India granted approval for the IPO in October 2025.The company is scheduled to list on the stock exchanges on April 2.
Company Overview and Financials
Amir Chand Jagdish Kumar (Exports) Ltd is engaged in the processing and export of basmati rice, marketing its products under the flagship “Aeroplane” brand.The company operates in a competitive landscape alongside established players such as KRBL Ltd, LT Foods, Sarveshwar Foods, and several unorganised processors.
In addition to its core basmati rice business, the company has diversified into the FMCG segment, offering staple food products and essential kitchen items.
For the nine-month period ended December 31, 2024, the company reported revenue from operations of Rs 1,421.3 crore and a profit after tax of Rs 48.77 crore.
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