Aeroplane Basmati Rice producer Amir Chand Jagdish Kumar brings Rs 550-crore IPO

New Delhi: Haryana-based Amir Chand Jagdish Kumar (Exports) Ltd has filed preliminary papers with markets regulator Sebi seeking its nod to raise Rs 550 crore through an initial share sale.

The initial public offering (IPO) is entirely a fresh issue of equity shares worth up to Rs 550 crore with no offer-for-sale component, according to the draft red herring prospectus (DRHP) filed on Friday.

Also, the company is looking to raise about Rs 50 crore in a pre-IPO round.

If the pre-IPO round takes place, then the size of the fresh issue will be reduced accordingly.

The net proceeds from the fresh issue will be used by the company to fund the working capital requirements and general corporate purposes.

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 has also diversified into FMCG products, offering staples and essential kitchen supplies. According to a CARE report, the company ranked third among its peers in terms of revenue.

It competes with the likes of other large basmati rice companies including KRBL Ltd, LT Foods and Sarveshwar Foods, and various other unorganised processors.

For the nine-month period ended December 31, 2024, the Haryana-based company posted a revenue from operations of Rs 1,421.3 crore and profit after tax of Rs 48.77 crore.

The company's shares are proposed to be listed on the BSE and NSE.

Emkay Global Financial Services and Keynote Financial Services are the book running lead managers, while KFin Technologies is the registrar for the public issue.