Basmati rice exporter Amir Chand's IPO gets 3.23 times subscription

New Delhi: The initial share sale of basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd received 3.23 times subscription on the final day of the offering on Friday. The Rs 440-crore initial public offering (IPO) got bids for 6,10,40,560 shares against 1,89,05,270 shares on offer, according to NSE data.

The portion meant for non-institutional investors attracted 12.71 times subscription. The category for retail individual investors (RIIs) received 1.36 times subscription and the quota for qualified institutional buyers (QIBs) got subscribed 1.11 times.

Amir Chand Jagdish Kumar (Exports) Ltd on Monday mobilised Rs 60 crore from anchor investors. The price band has been fixed at Rs 201-212 per share, valuing the company at Rs 2,200 crore. The Haryana-based company's IPO has a fresh issue of equity shares, with no offer-for-sale (OFS) component.

The company, which is known for its "Aeroplane" basmati rice brand, plans to utilise the net proceeds from the issue to fund its working capital requirements and for general corporate purposes. The offer size has been reduced to Rs 440 crore, compared with the Rs 550 crore issue size proposed in the draft red herring prospectus (DRHP) filed in June 2025. Amir Chand Jagdish Kumar (Exports) Ltd 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.