Shares of basmati rice exporter Amir Chand Jagdish Kumar (Exports) on Thursday listed with a discount of 8% against the issue price of ₹212.
The stock began trading at ₹195, a decline of 8.02% on the BSE. Later, it extended losses by plunging 10.59% to ₹189.55.
On the NSE, it started trading at ₹200, a drop of 5.66%. The scrip of the company later plunged 12% to trade at ₹186.76 on the exchange.
1 April 2026
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The company's market valuation stood at ₹1,933.83 crore on the BSE, while it stood at ₹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%, to 71,664.78. The 50-share NSE Nifty tumbled 476.65 points, or 2.10%, to 22,202.75.
The ₹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 ₹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 ₹440 crore, compared with the ₹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.
