Amir Chand Jagdish Kumar Shares List at Discount, Slip Further Amid Weak Market Sentiment
New Delhi, April 2: Shares of basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd made a weak debut on the stock exchanges on Thursday, listing at a discount to the issue price and extending losses during the trading session.Stock Lists Below Issue Price on BSE and NSE
The stock opened at Rs 195 on the BSE, marking a decline of 8.02 per cent compared to its issue price of Rs 212. Selling pressure intensified post-listing, dragging the shares further down by 10.59 per cent to Rs 189.55.On the NSE, the shares debuted at Rs 200, reflecting a 5.66 per cent drop, and later slipped 12 per cent to Rs 186.76.
Market Capitalisation and Broader Market Impact
Following the listing, the company’s market capitalisation stood at Rs 1,933.83 crore on the BSE and Rs 1,906.49 crore on the NSE.The weak debut coincided with a sharp decline in the broader equity markets. The BSE Sensex fell by 1,469.54 points, or 2.01 per cent, to 71,664.78, while the NSE Nifty dropped 476.65 points, or 2.10 per cent, to 22,202.75, amid escalating geopolitical tensions in the Middle East.
IPO Subscription and Issue Details
The company’s Rs 440 crore IPO witnessed a 3.23 times subscription on the final day of bidding on March 27. The price band for the issue was set at Rs 201 to Rs 212 per share.The IPO consisted entirely of a fresh issue of equity shares, with no Offer For Sale component. Notably, the issue size was revised downward from the Rs 550 crore proposed earlier in the Draft Red Herring Prospectus filed in June 2025.
Utilisation of IPO Proceeds
Amir Chand Jagdish Kumar plans to utilise the net proceeds from the issue primarily for working capital requirements and general corporate purposes.Company Overview and Market Position
Based in Haryana, Amir Chand Jagdish Kumar (Exports) Ltd operates as a processor and exporter of basmati rice, marketing its products under the “Aeroplane” brand.The company faces competition from established players such as KRBL Ltd, LT Foods, and Sarveshwar Foods, along with several unorganised market participants.
In addition to its core basmati rice business, the company has expanded into the FMCG segment, offering a range of staple food products and essential kitchen items.
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