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The initial public offering (IPO) of Amir Chand Jagdish Kumar (Exports), a processor and exporter of basmati rice and other FMCG products in India, which opened for subscription today, March 23, received a solid response from all sections of investors.

By the end of the day, the issue was subscribed 1.26 times, with 2.25 crore shares bid for against 1.79 crore shares on offer, according to exchange data.

Non-institutional investors (NIIs) showed strong interest in the issue, with their portion subscribed 4.86 times, while the qualified institutional buyer (QIB) segment was booked 0.61 times. The retail portion was subscribed 0.39 times.

The initial public offering (IPO) of Amir Chand Jagdish Kumar (Exports) has opened for bidding today and will remain open until Friday, March 27, 2026, with a price band of ₹201– ₹212 per share.

The IPO is entirely a fresh issue of 2.08 crore shares, aggregating to ₹440 crore. Investors can apply for the IPO in lots of 70 shares. A retail investor would need to invest ₹14,840 to apply for one lot, based on the upper price band.

The company proposes to utilise the entire proceeds from the issue towards working capital requirements and general corporate purposes. The allotment status is expected to be finalised on March 30, with the tentative listing date set for April 2.

Meanwhile, the grey market premium (GMP) of Amir Chand Jagdish Kumar (Exports) is around ₹7, indicating a potential listing price of ₹219 per share, about 3.3% above the upper price band.

The company is a processor and exporter of basmati rice products in India. According to its DRHP, it is among the few Indian companies with fully integrated operations across the basmati rice value chain, including procurement, storage, processing, marketing, and sales.

In addition, the company has diversified into FMCG products, offering staples and essential kitchen supplies such as atta, maida, sooji, besan, salt, and sugar, its DRHP showed.

Disclaimer: We advise investors to check with certified experts before making any investment decisions.Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments.

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