New Delhi, March 23 Basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd raised Rs 60 crore from anchor investors ahead of its initial public offering (IPO).
Rajasthan Global Securities, Lords Multigrowth Fund, and Chanakya Opportunities Fund I are the anchor investors, according to a circular uploaded on the BSE website.
The company allotted 28,30,380 equity shares to these funds at Rs 212 each, which is also the upper price band for the IPO. This totals the transaction to Rs 60 crore.
The company's maiden public offering (IPO), worth Rs 440 crore, will open for subscription on March 24 and conclude on March 27. The price band has been set at Rs 201-212 per share, valuing the company at Rs 2,200 crore.
The Haryana-based company's proposed IPO will consist of a fresh issue of equity shares, with no offer-for-sale (OFS) component.
The company, known for its "Aeroplane" basmati rice brand, plans to use 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 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 other large basmati rice companies, including KRBL Ltd, LT Foods, and Sarveshwar Foods, as well as various other unorganized processors.
In addition to its core basmati rice business, the company has diversified into Fast-Moving Consumer Goods (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 stated that half of the issue size is reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.
The basmati rice exporter will make its stock market debut on April 2.