Amir Chand Jagdish Kumar Eyes Rs 550 Crore IPO for Basmati Export Boost

Amir Chand Jagdish Kumar (Exports) Ltd, a renowned exporter of basmati rice, has received approval from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) aimed at raising Rs 550 crore.

The IPO will consist entirely of new equity shares and the funds raised will be directed toward enhancing the company's working capital and fulfilling general corporate needs. This expansion is aligned with their strategy to broaden the range of products, including a venture into the fast-moving consumer goods (FMCG) sector.

With a reported revenue of Rs 1,421.3 crore from operations in a nine-month period ending December 31, 2024, the company's shares will soon be available for trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).