Amir Chand's shares makes weak market debut; plunge 8 pc

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New Delhi, Apr 2 (PTI) Shares of basmati rice exporter Amir Chand Jagdish Kumar (Exports) on Thursday listed with a discount of 8 per cent against the issue price of Rs 212.

The stock began trading at Rs 195, a decline of 8.02 per cent on the BSE. Later, it extended losses by plunging 10.59 per cent to Rs 189.55.

On the NSE, it started trading at Rs 200, a drop of 5.66 per cent. The scrip of the company later plunged 12 per cent to trade at Rs 186.76 on the exchange.

The company’s market valuation stood at Rs 1,933.83 crore on the BSE, while it stood at Rs 1,906.49 crore on the NSE.

The stock made its debut on a day when equity markets crashed amid escalating tensions in West Asia. The 30-share BSE Sensex tanked 1,469.54 points, or 2.01 per cent,

to 71,664.78. The 50-share NSE Nifty tumbled 476.65 points, or 2.10 per cent, to 22,202.75.

The Rs 440 crore Initial Public Offering (IPO) received 3.23 times subscription on the final day of the offering on March 27.

The company had fixed a price range of Rs 201-212 per share.

The Haryana-based company’s IPO has a fresh issue of equity shares, with no Offer For Sale (OFS) component.

The company, which is known for its “Aeroplane” basmati rice brand, plans to utilise 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 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. PTI HG HG DR DR