Ahead of its debut, investors are closely monitoring the grey market premium (GMP) of the issue to gauge its potential listing gains and broader market sentiment.

Amir Chand Jagdish Kumar IPO Listing On April 2: GMP Indicates Limited Upside

Following the successful initial public offering (IPO) of basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd, the company is set to list on the exchanges on Thursday.

The issue, which opened on March 24 and closed on March 27, saw an overall subscription of around 3.23 times across categories, according to the NSE website.

Ahead of its debut, investors are closely monitoring the Grey Market Premium (GMP) of the issue to gauge its potential listing gains and broader market sentiment.

Amir Chand IPO GMP Today

The latest grey market premium (GMP) for the Amir Chand Jagdish Kumar IPO stood at Rs 3 on April 1. With a price band cap of Rs 212, the estimated listing price is Rs 215 (cap price + GMP). This implies an expected per-share gain of 1.42%, according to the Investorgain website.

Note: GMP does not represent official data and is based on speculation.

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Amir Chand IPO Details

The company's IPO was a book-built issue worth Rs 440 crore, entirely comprising a fresh issue of shares. The price band was set between Rs 201 and Rs 212 per share. Retail investors had to apply for a minimum lot of 70 shares, translating to an investment of Rs 14,840 at the upper end of the band.

Data showed Qualified Institutional Buyers (QIBs) were offered 79,59,995 shared, but oversubscribed the issue by applying for 88,68,090 shares. Non-Institutional Investors (NIIs) had 32,83,583 shares on offer but bids reached 4,17,20,280 shares. Retail Individual Investors (RIIs) were allotted 76,61,692 shares, with bids totalling 1,04,52,190 shares. Overall, the IPO offered 1,89,05,270 shares, while total bids reached 6,10,40,560 shares.

Share allotment process for the issue was finalised on March 30. Emkay Global Financial Services Ltd. served as the book running lead manager and Kfin Technologies Ltd. was the registrar of the issue.

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Amir Chand Jagdish Kumar Business And Financials

Use Of Funds

The company plans to use the funds raised through the IPO to meet its working capital needs and for general corporate purposes.

Amir Chand Jagdish Kumar (Exports) is engaged in the processing and export of basmati rice. It operates under multiple brands, including its flagship brand Aeroplane, along with La-Taste, Alibaba and World Cup.

The company reported strong financial growth in FY25, with net profit doubling to Rs 60.82 crore from Rs 30.4 crore in the previous year. Revenue from operations also rose by over 29% to Rs 2,001.65 crore from Rs 1,549.52 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

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