Basmati rice exporter Amir Chand Jagdish Kumar(Exports) Ltd is set to launch its Rs 440 crore initial public offering (IPO) on March 24.

The public issue will close on March 27, while the anchor investor bidding is scheduled to take place on March 23, according to the red herring prospectus (RHP).

The Haryana-based company’s proposed IPO will comprise a fresh issue of equity shares entirely, with no offer-for-sale (OFS) component.

The company plans to utilise the net proceeds from the issue to fund its working capital requirements and for general corporate purposes.

The Securities and Exchange Board of India (Sebi) granted its approval to the IPO in October 2025.

The offer size has been reduced to Rs 440 crore compared to the Rs 550 crore issue size proposed in the Draft Red Herring Prospectus (DRHP) filed in June 2025.
Ahead of the public issue, the company raised Rs 13 crore in a pre-IPO round by allotting 7.55 lakh shares at Rs 172 per share.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.

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

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

The combined market valuation of the top-10 domestic firms eroded sharply by Rs 4.48 lakh crore last week, in tandem with a steep decline in equities, with banking majors State Bank of India and HDFC Bank taking the biggest hit.

Last week, the BSE benchmark Sensex tanked 4,354.98 points or 5.51 per cent, and the NSE Nifty dropped 1,299.35 points or 5.31 per cent as surging crude prices raised concerns over inflationary pressures and global economic stability amid the widening conflict in West Asia.

“The primary driver behind the market weakness was the sustained rise in crude oil prices following the escalating conflict between Iran, the United States and Israel. Brent crude surged past USD 101 per barrel, raising concerns over India’s fiscal position and inflation outlook,” Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

The market valuation of State Bank of India tumbled Rs 89,306.22 crore to Rs 9,66,261.05 crore.

HDFC Bank faced an erosion of Rs 61,715.32 crore to Rs 12,57,391.76 crore.

The valuation of Bajaj Finance dived Rs 59,082.49 crore to Rs 5,32,053.54 crore and that of Tata Consultancy Services (TCS) tanked Rs 53,312.52 crore to Rs 8,72,067.63 crore.
The market capitalisation (mcap) of ICICI Bank dropped by Rs 42,205.04 crore to Rs 8,97,844.78 crore and that of Bharti Airtel plunged Rs 38,688.78 crore to Rs 10,28,431.72 crore.Reliance Industries’ valuation fell by Rs 33,289.88 crore to Rs 18,68,293.17 crore.

The mcap of LIC diminished by Rs 31,245.49 crore to Rs 4,88,985.57 crore and that of Infosys declined by Rs 24,230.96 crore to Rs 5,06,315.58 crore.

Hindustan Unilever’s mcap dipped by Rs 15,401.57 crore to Rs 5,07,640.94 crore.

Reliance Industries remained the most valued domestic firm, followed by HDFC Bank, Bharti Airtel, State Bank of India, ICICI Bank, TCS, Bajaj Finance, Hindustan Unilever, Infosys and LIC.

The Trump administration is set to receive a roughly $10 billion fee from investors in the recently completed deal to take control of TikTok’s U.S. business, delivering it a windfall for keeping the popular social-media app alive in America. 

The payment is part of the agreement through which investors friendly with the administration gained control of TikTok’s U.S. operations from Chinese parent ByteDance, people familiar with the matter said. It comes in addition to the investments made to create a new entity to run the app in the U.S.

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8