New Delhi, March 24 The initial public offer of basmati rice exporter Amir Chand Jagdish Kumar (Exports) Ltd was subscribed 1.19 times on the first day of the share sale on Tuesday.
The IPO received bids for 2,25,63,870 shares against 1,89,05,270 shares on offer, according to data available with the NSE.
The portion for non-institutional investors fetched 4.61 times the subscription. The category for Qualified Institutional Buyers (QIBs) was subscribed at 58 per cent, while that for Retail Individual Investors (RIIs) was 37 per cent.
Amir Chand Jagdish Kumar (Exports) Ltd raised Rs 60 crore from anchor investors on Monday.
The company's Rs 440 crore initial public offering (IPO) will conclude on March 27. The price band has been fixed at Rs 201-212 per share, valuing the company at Rs 2,200 crore.
The IPO of the Haryana-based company includes 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 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 other large basmati rice companies, including KRBL Ltd, LT Foods, and Sarveshwar Foods, and various other unorganized processors.
Besides its core basmati rice business, the company has diversified into FMCG products, offering staples and other essential kitchen items.