Aeroplane Basmati Rice Rs 440-crore IPO to open on March 24, listing scheduled on April 2

Aeroplane Basmati Rice Exporter to Launch Rs 440-Crore IPO

Amir Chand Jagdish Kumar (Exports), the processor and exporter of basmati rice under the brand Aeroplane, will open its maiden public issue for subscription on March 24.

IPO Details

• Offer Size: Rs 440 crore
• Offer Period: March 24 - March 27 (3 days)
• Offer Type: Entirely fresh issue with no offer-for-sale component

Originally, the IPO size was planned at Rs 550 crore, but it has been reduced as per the Draft Red Herring Prospectus filed in June 2025. The SEBI has given its approval to the IPO in October 2025.

Pre-IPO Round and Valuation

• Pre-IPO Round: Rs 13 crore in 7.55 lakh shares at Rs 172 per share
• Valuation: Rs 1,877 crore

The company has already raised Rs 13 crore in a pre-IPO round of 7.55 lakh shares at Rs 172 per share. The one-day IPO anchor book will be opened on March 23.

Utilisation of Proceeds

• Working Capital Requirements: Rs 400 crore (plus Rs 13 crore of pre-IPO round)
• General Corporate Purposes: Remaining amount

Amir Chand Jagdish Kumar (Exports) intends to utilise Rs 400 crore (plus Rs 13 crore of pre-IPO round) of proceeds from the offer for working capital requirements, and the remaining amount for general corporate purposes.

About the Company

• Business: Rice processing and exports under the brand Aeroplane, and FMCG products offering staples and essential kitchen supplies
• Registered Trademarks: 100 trademarks, including 70 trademarks in India and 30 trademarks across 26 countries

Apart from rice processing and exports under the brand Aeroplane which accounted for over 99 percent of topline, the company has also diversified into FMCG products offering staples and essential kitchen supplies such as aata, maida, sooji, besan, salt and sugar.

Financial Performance

• Profit: Rs 48.6 crore on revenue of Rs 1,021.2 crore for six months period ended September 2025
• Year-Over-Year Growth: Profit doubled to Rs 60.8 crore from Rs 30.4 crore, and revenue increased by 29.2 percent to Rs 2,001.6 crore from Rs 1,549.5 crore in previous year

The Haryana–based company has recorded profit of Rs 48.6 crore on revenue of Rs 1,021.2 crore for six months period ended September 2025. Profit in the year ended March 2025 doubled to Rs 60.8 crore, from Rs 30.4 crore in previous year. Revenue during the same period increased by 29.2 percent to Rs 2,001.6 crore from Rs 1,549.5 crore.

Merchant Bankers

• Emkay Global Financial Services
• Keynote Financial Services