Home / Business and Economy / Basmati Rice Giant Eyes ₹440 Crore IPO, Subscription Starts March 24
Basmati Rice Giant Eyes ₹440 Crore IPO, Subscription Starts March 24
15 Mar
Summary
- Amir Chand Jagdish Kumar (Exports) Ltd. launches ₹440 crore IPO on March 24.
- IPO comprises a fresh issue of equity shares with no offer-for-sale component.
- Company plans to use proceeds for working capital and general corporate needs.
Amir Chand Jagdish Kumar (Exports) Ltd., a prominent basmati rice processor and exporter, will open its ₹440 crore Initial Public Offering (IPO) for subscription on March 24, 2026. The three-day bidding period will close on March 27, 2026, with anchor investor bidding scheduled for March 23, 2026.
The Haryana-based company's public offering is structured as a fresh issue of equity shares, excluding any offer-for-sale component. This IPO size represents a reduction from the initially planned ₹550 crore, as detailed in its Draft Red Herring Prospectus filed in June 2025. The Securities and Exchange Board of India (SEBI) granted approval for the IPO in October of the previous year.
Prior to this public offering, the company successfully raised ₹13 crore through a pre-IPO round, selling 7.55 lakh shares at ₹172 per share and achieving a valuation of ₹1,877 crore. The net proceeds from the current IPO are designated for financing working capital needs and general corporate activities.
Amir Chand Jagdish Kumar (Exports) Ltd. operates under the flagship brand 'Aeroplane' and competes with other major basmati rice companies. In addition to its core business, the company has expanded into Fast-Moving Consumer Goods (FMCG) products. For the nine-month period ending December 31, 2024, the company reported revenues of ₹1,421.3 crore and a profit after tax of ₹48.77 crore.
Emkay Global Financial Services and Keynote Financial Services are managing the IPO. The final allotment of shares is expected by March 30, 2026, with proposed listings on the BSE and NSE.
