Rs 440 crore Amir Chand Jagdish Kumar IPO issue opens today. Check price band, GMP and to subscribe or not

The initial public offer (IPO) of Amir Chand Jagdish Kumar (Exports) Ltd will open for bidding on Tuesday and will close on Friday March 27. The company plans to raise Rs 440 crore through the issue which is entirely an issuance of fresh equity. Ahead of the opening, the grey market premium (GMP) indicated a muted listing.

Amir Chand Jagdish Kumar IPO price band

The company has set the price band at Rs 201– 212 per share and retail investors can make applications for a minimum of 1 lot which comprises 70 equity shares amounting to Rs 14,840.

The IPO of fresh issue aggregates up to Rs 440 crores.

The company raised Rs 60 crore on Monday through three anchor investors.

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It has reserved 50% of the issue for qualified institutional buyers (QIBs), up to 35% for retail investors and 15% for non-institutional investors (NIIs).

Amir Chand Jagdish Kumar IPO GMP

Amir Chand IPO's last grey market premium (GMP) stood at Rs 6-7 hinting at a listing price of Rs 219, implying a nearly 3% listing gain. The GMP is only an indicative price and could change as the issue progresses.

Amir Chand Jagdish Kumar IPO net proceeds

The company will utilise Rs 400 crore towards funding working capital requirements.

About Amir Chand Jagdish Kumar

ACJKEL is a processor and exporter of basmati rice and other FMCG products in India. ACJKEL is one of the few Indian players with fully integrated operations with a presence across the basmati rice value chain, which includes procurement, storage, processing, marketing and sales. The company has registered a total of 100 trademarks, including 70 trademarks in India and 30 trademarks across 26 countries - primarily in Europe, Asia & Africa and 22 copyrights in India.

Company financials

The company's revenue from operations in H1FY26 stood at Rs 1,021 crore while its profit after tax (PAT) stood at Rs 49 crore. For FY25, revenue stood at Rs 2,002 versus Rs 1,550 crore in FY24 and Rs 1,316 in FY23. The PAT stood at Rs 61 crore in FY25 versus Rs 30 crore in FY24 and Rs 17 crore in FY23.

Lead managers for Amir Chand Jagdish Kumar IPO

The Book Running Lead Managers (BRLMs) are Emkay Global Financial Services and Keynote Financial Services while the registrar to the issue is KFin Technologies.

Should you bid?

SBI Securities recommends investors to 'Subscribe' the issue for long term, valuing the company at FY25/1HFY26 annualised PE of 36.1X/22.6X on post issue capital at the upper price band.

"ACJKEL operates a fully integrated business model for processing and exporting basmati rice right from procurement, aging, milling, grading and packaging. The company’s products are broadly categorized under two segments - rice (99% of revenues) and FMCG. Rice business is generally working capital intensive as companies require significant funds for paddy procurement which is seasonal while their inventory days are higher as they need to undergo mandatory aging process for basmati rice. ACJKEL will utilize IPO proceeds towards funding of its working capital requirements which will aid company’s growth," the brokerage said.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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