The issue size of Amir Chand Jagdish Kumar (Exports) has been reduced from the initially planned Rs 550 crore, as per the draft red herring prospectus filed in June 2025.

Amir Chand Jagdish Kumar (Exports) IPO opens on March 24: Check all key details here

Amir Chand Jagdish Kumar (Exports), a Haryana-based basmati rice exporter, has set the price band for its upcoming initial public offering (IPO) at Rs 201 to Rs 212 per share. The company is eyeing to raise Rs 440 crore through this fresh issue of equity shares. The IPO will open for subscription on March 24 and close on March 27.

The issue size has been reduced from the initially planned Rs 550 crore, as per the draft red herring prospectus (DRHP) filed in June 2025. The Securities and Exchange Board of India (SEBI) approved the IPO in October last year.

Prior to the IPO, Amir Chand Jagdish Kumar (Exports) raised Rs 13 crore in a pre-IPO round by issuing 7.55 lakh shares at Rs 172 per share. The company’s valuation stands at Rs 1,877 crore. The anchor book will be open for one day on March 23.

Half of the IPO shares are reserved for Qualified Institutional Bidders (QIBs), 15 per cent for non-institutional investors, and the remaining 35 per cent for retail investors. Retail investors can bid for a minimum lot of 70 shares, amounting to a minimum investment of Rs 14,840, with bids in multiples of 70 shares thereafter.

At the upper end of the price band, the company’s post-issue market capitalisation is expected to be Rs 2,195.29 crore. The net proceeds from the IPO will be used to meet working capital requirements and for general corporate purposes.

Amir Chand Jagdish Kumar (Exports) processes and exports basmati rice under its flagship 'Aeroplane' brand. The company competes with other major players like KRBL, LT Foods, and Sarveshwar Foods, along with unorganised sector processors. It has also diversified into FMCG products, offering staples 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. Emkay Global Financial Services and Keynote Financial Services are the merchant bankers for the IPO. Share allotment is expected to be finalised by March 30, with listings planned on the BSE and NSE.