Basmati Rice Exporter Amir Chand Files ₹440-Crore IPO; Opens On 24 March

Basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd is preparing to tap the public markets with an initial public offering (IPO) worth ₹440 crore.

The issue will open for subscription on 24 March 2026. Anchor investors are expected to participate a day earlier, on 23 March, according to the company’s red herring prospectus.

The Haryana-based company plans to raise funds entirely through a fresh issue of equity shares, meaning existing shareholders will not sell any stake through the offering. As a result, the money raised from the IPO will go to the company itself.

In June 2025, the business filed its draft prospectus, which suggested raising ₹550 crore through a public offering. The size of the offering has since been reduced. The final IPO will now target ₹440 crore.

Before the main issue, the company also completed a pre-IPO placement. It raised ₹13 crore by allotting 7.55 lakh shares at a price of ₹172 per share.

What Are The Key Details Of The IPO?

The offering will be conducted through the book-building route. Under this method, investors submit bids within the announced price band, and the final price is discovered through demand during the subscription period.

What Does Amir Chand Jagdish Kumar (Exports) Do?

Founded in 2003, Amir Chand Jagdish Kumar (Exports) Ltd operates in the basmati rice processing and export industries.

The company runs an integrated business model that covers procurement of paddy, storage, milling, processing, packaging and sales of rice products.

Its products are sold under the flagship brand “Aeroplane”, along with several associated sub-brands such as Aeroplane Classic, Aeroplane La-Taste, Ali Baba, World Cup and Jet. Apart from basmati rice, the company has gradually expanded into other food staples.

As of February 2026, the company exported products to more than 38 countries across four continents. The company’s financials show steady growth in recent years.

For FY25, total income stood at ₹2,004.03 crore, while profit after tax was ₹60.82 crore. Net worth improved to ₹379.18 crore during the same period.

For the six months ended September 30, 2025, the company reported total income of ₹1,024.30 crore and profit after tax of ₹48.65 crore.

Separately, for the nine months ended December 31, 2024, revenue from operations came in at ₹1,421.3 crore. During the same period, profit after tax stood at ₹48.77 crore.

Overall, the numbers reflect continued activity in the company’s export operations.

How Does The Company Plan To Use The IPO Proceeds?

According to the prospectus, the proceeds will mostly be used to meet working capital requirements, which are essential for companies involved in export and agricultural procurement.

Working capital is particularly important for rice exporters because the business requires purchasing large volumes of paddy, storing inventory and managing export logistics before sales are realised.

The balance of the funds will be used for regular business needs.

Also read: Apsis Aerocom IPO Allotment Status: Here’s How to Check Allotment Online

Investor Takeaway

Most of the IPO proceeds are proposed to be used for working capital, which should support the company’s day-to-day operations and export activity.

Key details such as the price band are still awaited, which will provide better clarity on the issue’s valuation. If the IPO goes ahead as planned, the listing will add another basmati rice exporter to India’s public markets.

Sources:

News18

Chittorgarh

IPO RHP