Amir Chand Jagdish Kumar (Exports) Ltd., the company behind the well-known Aeroplane basmati rice brand, is set to launch its ₹440-crore initial public offering (IPO) on March 24. The public issue will remain open for subscription until March 27, while bidding for anchor investors is scheduled to take place on March 23. The company is expected to list its shares on stock exchanges on April 2, marking its debut in India’s primary market.
The IPO comes at a time when India’s capital markets continue to see strong activity with several companies looking to raise funds through public offerings. Amir Chand Jagdish Kumar (Exports), a Haryana-based basmati rice processor and exporter, plans to use the IPO to strengthen its financial position and support future growth. The upcoming public issue will consist entirely of a fresh issue of equity shares, meaning the company will issue new shares rather than allowing existing investors to sell their holdings. As a result, all the funds raised through the IPO will go directly to the company to support its operations and expansion plans.
The company had initially planned a larger IPO of around ₹550 crore when it filed its Draft Red Herring Prospectus in June 2025. However, the issue size was later revised and reduced to ₹440 crore before the launch. The Securities and Exchange Board of India (SEBI) granted approval for the IPO in October 2025.
Funds to Be Used for Working Capital and Business Expansion:
According to the company’s prospectus, a major portion of the funds raised through the IPO will be used to support working capital requirements. Out of the total proceeds, around ₹400 crore will be allocated toward strengthening the company’s operational needs, while the remaining amount will be used for general corporate purposes.
The company raised over ₹13 crore in a pre-IPO investment round prior to its public offering. The company issued 7.55 lakh shares at ₹172 per share, resulting in a valuation of around ₹1,877 crore.The distribution of shares to investors is expected to be completed by March 30. After the allotment process is finished, the shares will be credited to investors’ demat accounts prior to the company’s stock market launch on April 2.Emkay Global Financial Services and Keynote Financial Services, the issue’s merchant bankers, is going to manage the IPO.
Company Behind the ‘Aeroplane’ Brand:
Amir Chand Jagdish Kumar (Exports) is primarily engaged in processing and exporting basmati rice under its flagship brand “Aeroplane.” The company has built a strong presence in the rice export sector and sells its products across several international markets.
Rice processing and exports account for more than 99 percent of the company’s revenue. However, in recent years the company has also diversified into the fast-moving consumer goods (FMCG) segment by introducing kitchen staples such as wheat flour, semolina, gram flour, salt and sugar.
The company has built a sizable intellectual property portfolio, with around 100 registered trademarks. Of these, about 70 trademarks are registered in India, while the remaining 30 are registered across 26 countries, mainly in Europe, Asia and Africa. In the basmati rice segment, the company competes with several established players including KRBL Ltd, LT Foods and Sarveshwar Foods, along with a large number of smaller processors and exporters operating in the industry.
Financial Performance and Market Outlook:
The company has reported steady financial growth in recent years, supported by strong demand for basmati rice in both domestic and international markets. For the nine-month period ending December 31, 2024, the company reported revenue from operations of about ₹1,421.3 crore and a profit after tax of ₹48.77 crore.
In the financial year ending March 2025, the company’s profit nearly doubled to around ₹60.8 crore compared with ₹30.4 crore in the previous year. Revenue also grew significantly during the same period, increasing by about 29 percent to reach ₹2,001.6 crore. Such financial growth reflects the rising global demand for basmati rice and India’s strong position as one of the world’s largest exporters of the premium rice variety. Companies like Amir Chand Jagdish Kumar (Exports) have benefited from increasing international consumption and expanding export markets.
The upcoming IPO will therefore be closely watched by investors interested in the agriculture and food export sector. With India’s IPO market remaining active and investor interest in consumer-focused businesses continuing to grow, the Aeroplane basmati rice IPO could attract significant attention during its subscription period. If the listing proceeds as scheduled on April 2, the company will join the growing list of food and agriculture companies that have entered India’s stock market in recent years. For investors, the issue offers an opportunity to participate in the growth of a company operating in a sector that continues to see steady demand both in India and globally.
