Amir Chand Jagdish Kumar Exports ₹440 Crore IPO To Open On March 24

Basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd. is set to launch its ₹440 crore initial public offering (IPO) on March 24, with the public subscription window remaining open until March 27. The company has also scheduled anchor investor bidding for March 23, according to details outlined in its red herring prospectus (RHP). 

Issue Structure and Fund Utilisation 

The IPO will consist entirely of a fresh issue of equity shares, with no offer-for-sale (OFS) component from existing shareholders. 

The size of the public offering has been revised downward from the ₹550 crore initially proposed in the draft red herring prospectus submitted in June 2025. The company later received regulatory clearance from the Securities and Exchange Board of India (SEBI) in October 2025. 

Prior to the IPO launch, the company raised ₹13 crore through a pre-IPO placement, issuing 7.55 lakh shares at ₹172 per share. Following this transaction, the company’s valuation stands at approximately ₹1,877 crore. The company plans to utilise the net proceeds primarily for working capital requirements, along with funding general corporate activities. 

Business Operations and Financial Performance 

Based in Haryana, Amir Chand Jagdish Kumar (Exports) operates as a processor and exporter of basmati rice, marketing its products under the flagship brand “Aeroplane.” 

The company competes with established industry players such as KRBL Ltd., LT Foods and Sarveshwar Foods, along with several smaller and unorganised basmati rice processors. Beyond its core basmati rice operations, the company has also expanded into the fast-moving consumer goods (FMCG) segment, offering a range of staple food and kitchen essentials. 

For the nine-month period ended December 31, 2024, the company reported revenue from operations of ₹1,421.3 crore, while profit after tax stood at ₹48.77 crore. Emkay Global Financial Services and Keynote Financial Services are acting as the merchant bankers for the IPO. 

Read More: Upcoming IPOs This Week (Mar 16–Mar 20): 2 Mainboard and 1 SME Issue Set to Open! 

Conclusion 

Following the completion of the issue, the company is expected to finalise share allotments by March 30, after which the stock will be listed on the BSE and NSE, marking its entry into the public markets. 

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