Amir Chand Jagadish Kumar Exports Ltd IPO
FMCG
Price Band
₹201 – ₹212
Lot Size
70
Minimum Bid Quantity
70
Minimum Investment
₹14840
Issue Size
₹440Cr
Opens
2026-03-24
Closes
2026-03-27
Listing
02-04-2026
Subscription Status
Qualified Institutional Buyers
1.11 x
Non-Institutional Investor
12.67 x
Retail Individual Investor
1.3 x
Total
3.2 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE05TO01019
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Amir Chand Jagdish Kumar (Exports) Limited is engaged in the processing and export of basmati rice and the marketing of FMCG products in India. The company benefits from over four decades of industry experience through its promoters, who have been associated with the basmati rice trade and export sector. The company operates across the basmati rice value chain, including procurement of paddy, storage, milling, processing, packaging, marketing and distribution. The company’s product portfolio is broadly categorised into two segments: rice and FMCG products. The rice segment primarily includes basmati rice along with other speciality rice varieties such as kolam rice, sona masuri, idli rice, and ponni rice, with basmati rice contributing the majority of revenue. These products are marketed under the flagship brand “AEROPLANE” along with several sub-brands catering to different price segments and customer categories. In addition, the company has diversified into FMCG staples such as atta, maida, sooji, besan, salt, and sugar, which are primarily sold in the domestic market. The company sells its products through a distribution network comprising distributors, institutional buyers, retail chains, and online platforms. As of February 28, 2026, the company exports its products to more than 38 countries. Its operations are supported by three manufacturing, processing, and packaging facilities located in Punjab, Haryana, and Delhi. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Funding the working capital requirement of the company – Rs 400 crore General corporate purposes
Pros
- • The company claims to have an established presence in the basmati rice industry with its flagship brand “Aeroplane,” which has been in the market for over four decades. The brand portfolio includes more than 40 sub-brands catering to different consumer segments and price categories. As per the company-commissioned CARE Report, the company ranks third among its peers in terms of revenue. The established brand recognition, diversified product offerings, and presence in both domestic and international markets contribute to the company’s market position.
- • The company claims to have developed a procurement network across basmati paddy-producing regions of northern India through relationships with procurement agents and market participants. Its manufacturing and processing facilities, located in Punjab and Haryana, along with a packaging facility in New Delhi, are situated close to key basmati paddy-producing areas. This geographical proximity enables efficient procurement, reduces transportation costs, and supports the timely availability of raw materials for processing operations.
- • The company claims to operate an integrated business model covering procurement of paddy, storage, milling, processing, packaging, branding, and distribution. This integrated structure allows greater operational control across the value chain and supports supply chain coordination and inventory management. The company also maintains quality control procedures across procurement, processing, and packaging stages, supported by dedicated quality assurance personnel and certifications including FSSAI licensing, ISO 22000:2018 and HACCP accreditation.
Cons
- • The company and its promoters are currently involved in legal proceedings, including criminal proceedings and material civil litigation. Any adverse judgment in any of these cases can harm the company's operations.
- • The company’s packaging unit and that of its subsidiary in Delhi are located in non-conforming industrial areas under the Delhi Master Plan 2021. Such areas are subject to redevelopment norms and regulatory approvals. If the required clearances are not obtained or redevelopment is not completed within prescribed timelines, the company may be required to relocate operations or discontinue activities at these locations, which could disrupt operations and increase costs.
- • The company’s operations are significantly dependent on basmati paddy, which is the primary raw material for its rice products. Rice products contributed Rs 1,012.12 crore (99.39%) for the six months ended September 30, 2025; Rs 1,965.11 crore (99.07%) for FY25; Rs 1,509.45 crore (99.04%) for FY24; and Rs 1,284.71 crore (98.73%) for FY23. Any shortage in supply or fluctuations in paddy prices could adversely affect production costs and profitability.
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