Basmati rice exporter Amir Chand to launch ₹440 cr IPO on March 24

Amir Chand Jagdish Kumar (Exports) Ltd Set to Launch Rs 440 Crore IPO on March 24

The Haryana-based basmati rice exporter, Amir Chand Jagdish Kumar (Exports) Ltd, is gearing up to launch its Rs 440 crore initial public offering (IPO) on March 24. The public issue is set to close on March 27, while the anchor investor bidding is scheduled to take place on March 23, as per the red herring prospectus (RHP).

IPO Details:

• Issue Date: March 24
• Issue Closure Date: March 27
• Anchor Investor Bidding Date: March 23

The company's proposed IPO will comprise a fresh issue of equity shares entirely, with no offer-for-sale (OFS) component. The net proceeds from the issue will be utilised to fund the company's working capital requirements and for general corporate purposes.

Company Overview:

Amir Chand Jagdish Kumar (Exports) Ltd is a processor and exporter of basmati rice in India, marketing its products under the flagship brand "Aeroplane". The company competes with large basmati rice companies, including KRBL Ltd, LT Foods, and Sarveshwar Foods, as well as various other unorganised processors.

Diversification:

Apart from its core basmati rice business, the company has diversified into FMCG products, offering staples and other essential kitchen items.

Financial Performance:

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.

Listing:

The company's shares are proposed to be listed on the BSE and NSE.