Amir Chand IPO: Company Raises Rs 60 Crore, Issue Opens March 24

Amir Chand Jagdish Kumar Exports Ltd on Monday mobilised Rs 60 crore from anchor investors ahead of its initial public offering.

According to a circular uploaded on the website of Bombay Stock Exchange, the anchor investors include Rajasthan Global Securities, Lords Multigrowth Fund and Chanakya Opportunities Fund I.

The company allotted 28,30,380 equity shares to these investors at Rs 212 per share, which is the upper end of the IPO price band, aggregating to Rs 60 crore.

The company’s Rs 440 crore initial public offering will open for subscription on March 24 and close on March 27. The price band has been fixed at Rs 201 to Rs 212 per share, valuing the company at around Rs 2,200 crore.

The Haryana based firm’s IPO comprises only a fresh issue of equity shares, with no offer for sale component.

The company, known for its "Aeroplane" basmati rice brand, plans to use the proceeds to meet working capital requirements and for general corporate purposes.

The Securities and Exchange Board of India approved the IPO in October 2025.

The issue size has been reduced to Rs 440 crore from Rs 550 crore proposed earlier in the draft red herring prospectus filed in June 2025.

Ahead of the IPO, the company raised Rs 13 crore in a pre IPO round by allotting 7.55 lakh shares at Rs 172 per share.

Amir Chand Jagdish Kumar (Exports) Ltd operates as a processor and exporter of basmati rice and markets its products under the flagship "Aeroplane" brand. It competes with peers such as KRBL Ltd, LT Foods and Sarveshwar Foods, along with several unorganised players.

The company has also diversified into FMCG products, offering staples and kitchen essentials.

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.

The company said that 50 per cent of the issue is reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non institutional investors.

The company is scheduled to list on the stock exchanges on April 2.