Basmati rice exporter Amir Chand's ₹440

Basmati rice exporter Amir Chand's ₹440-crore IPO to open on March 24 The Haryana-based company's public offer will comprise a fresh issue of equity shares entirely, with no offer-for-sale (OFS) component. By CNBCTV18.com The ₹440 crore initial public offering (IPO) of basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd. will open for subscription on March 24. The three-day bidding will close on March 27. The anchor investor bidding is scheduled to take place on March 23, according to the company's red herring prospectus (RHP). The Haryana-based company's public offer will comprise a fresh issue of equity shares entirely, with no offer-for-sale (OFS) component. The offer size has been reduced from Rs 550 crore planned by the company as per the Draft Red Herring Prospectus filed in June 2025. The SEBI has given its approval to the IPO in October last year. Of the IPO size, the company has already raised Rs 13 crore in pre-IPO round of 7.55 lakh shares at a price of Rs 172 per share. It is valued at Rs 1,877 crore. The company plans to utilise the net proceeds from the issue to fund its working capital requirements and for general corporate purposes. Amir Chand Jagdish Kumar (Exports) is a processor and exporter of basmati rice in India. The company markets its products under the flagship brand ”Aeroplane”. It competes with the likes of other large basmati rice companies, including KRBL Ltd, LT Foods and Sarveshwar Foods, and various other unorganised processors. Apart from its core basmati rice business, the company has diversified into FMCG products, offering staples and other 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 acting as the merchant bankers for the Amir Chand Jagdish Kumar (Exports) IPO. The company will finalise IPO share allotment by March 30, and its shares are proposed to be listed on the BSE and NSE.