So far in the year, rice exporter firm Amir Chand Jagdish Kumar’s IPO has emerged as one of the few mainboard public offerings to receive strong bids in comparison to its peers. The rice processor’s stock is also trading at a steady premium in the unlisted markets, as the prolonged West Asia conflict continues to pose challenges for agri-commodity exports of the country.
As per market trackers, currently the company’s shares are trading at a 3% premium in the unlisted markets. The IPO has seen strong subscription and has been subscribed 3.16 times so far.
Here are some details you should know about this offer:
#1 Amir Chand Jagdish Kumar IPO: Day 3 subscription details
As per the data available on NSE, the IPO has been oversubscribed, with its subscription at 316% as of 03:30 PM (IST). The Non-Institutional Investor (NII) segment led the pack, being subscribed 12.55 times, while the retail segment also saw an oversubscription at 1.21 times.
The QIB portion has been subscribed 1.13 times so far.
Today is the last day for bidding on the Amir Chand Jagdish Kumar IPO, and the bidding will close at 05:00 PM (IST).
#2 Amir Chand Jagdish Kumar IPO: Day 3 GMP
In the unlisted markets, the company’s shares have been trading at a relatively steady premium. Currently, the stock is trading at a 3% premium, suggesting an estimated listing price of Rs 218.5 (based on the upper price band).
The price band for the shares has been fixed at Rs 201 to Rs 212.
However, it is important to note that the grey market premium is an unofficial metric to determine the listing price and may fluctuate based on market mood and sentiment.
#3 Amir Chand Jagdish Kumar IPO: Key dates
The company is expected to get listed on April 2, 2026. Eligible shareholders will tentatively be allotted their shares by March 30, and shares are expected to be credited to their demat accounts by April 1. The refund process is also expected to be completed on the latter date.
#4 Amir Chand Jagdish Kumar IPO: Offer size and net proceeds
The offer is entirely a fresh issue of Rs 440 crore. The company has issued 2.08 crore equity shares of face value Rs 10 each. The IPO is being handled by Emkay Global Financial Services and Keynote Financial Services, while KFin Technologies is the registrar to the issue.
As per the company’s RHP, of the total proceeds raised, it will deploy Rs 400 crore towards funding its working capital requirements, while the remaining capital will be deployed towards general corporate purposes.
#5 Amir Chand Jagdish Kumar IPO: Expert take
Anand Rathi Research Team gave a “Subscribe – Long Term” rating to the issue, stating that, “At the upper price band, the company is valued at 36.1x FY25 earnings and 16.9x its FY26 earnings P/E (annualised), implying a post-issue market cap of Rs 21,953 million. The company plans to scale up its brand-building and marketing efforts to capitalise on the ongoing shift towards organised and branded players in the basmati rice segment.”
It added that the company plans to expand its presence across India, focusing on deeper penetration into Tier 3 and Tier 4 cities, which offer strong growth potential driven by rising incomes and increasing demand for branded food products.