Basmati rice exporter Amir Chand to launch Rs 440-cr IPO on Mar 24

Basmati rice exporter Amir Chand Jagdish Kumar(Exports) Ltd is set to launch its Rs 440 crore initial public offering (IPO) on March 24.

The public issue will close on March 27, while the anchor investor bidding is scheduled to take place on March 23, according to the red herring prospectus (RHP).

The Haryana-based company's proposed IPO will comprise a fresh issue of equity shares entirely, with no offer-for-sale (OFS) component.


The company plans to utilise the net proceeds from the issue to fund its working capital requirements and for general corporate purposes.

The Securities and Exchange Board of India (Sebi) granted its approval to the IPO in October 2025.

The offer size has been reduced to Rs 440 crore compared to the Rs 550 crore issue size proposed in the Draft Red Herring Prospectus (DRHP) filed in June 2025.

Ahead of the public issue, 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 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.

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's shares are proposed to be listed on the BSE and NSE.