Amir Chand Jagdish Kumar IPO Review 2026: Price, Dates, Financials & Should You Invest?
Amir Chand Jagdish Kumar (Exports) Ltd IPO opens March 24, 2026. Check detailed IPO review, price band, financials, valuation, lot size, key dates, and investment outlook. The company operates in basmati rice exports and FMCG products with a global presence across 38+ countries. Read to know if this IPO is worth investing in for the long term.
AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD – COMPANY BACKGROUND
Amir Chand Jagdish Kumar (Exports) Ltd is a 22-year-old company specializing in the processing and export of basmati rice and other FMCG products. It is fully integrated in the basmati value chain covering procurement, storage, processing, and marketing. Its rice products include basmati rice, Kolam rice, sona Masuri, idli rice, and Ponni rice. Its other FMCG products cover aata, Maida, suji, besan, salt and sugar. Its products are marketed under the brand name of “Aeroplane.” Its basmati and other rice products are sold in India and to over 38 countries abroad; across Europe, Asia, and Africa. It has two manufacturing units located at Amritsar in Punjab and Safidon in Haryana.
Amir Chand Jagdish Kumar (Exports) Ltd has been promoted by Jagdish Kumar Suri, Rahul Suri, and Ramnika Suri. The issue is entirely a fresh issue shares and there is no promoter dilution through the OFS route. The proceeds of the fresh issue will be substantially used for meeting working capital needs of the business. The issue is being lead-managed by Emkay Global Financial Services and Keynote Financial Services; while KFIN Technologies Ltd (KFINTECH) will be the registrars to the IPO.
##HIGHLIGHTS OF THE IPO ISSUE OF AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD
Here are the key highlights of the public issue of Amir Chand Jagdish Kumar (Exports) Ltd.
- The IPO of will be open from March 24th, 2026 to March 27th, 2026. It has a face value of ₹10 per share and IPO price band is set in range of ₹201 to ₹212 per share.
- The IPO of Amir Chand Jagdish Kumar (Exports) Ltd will comprise entirely of a fresh issue with no offer for sale (OFS) component in the IPO.
- The fresh issue portion comprises the issue of 2,17,35,650 shares (217.36 lakh shares), which at the upper price band of ₹212 per share translates into ₹460.80 crore.
- Since there is no offer for sale (OFS), the overall IPO will also comprise only of the fresh issue of 2,17,35,650 shares (217.36 lakh shares), which at the upper price band of ₹212 per share translates into ₹460.80 crore.
- Being a fresh issue of shares, the outstanding shares of the company will expand to the extent of the new issue of shares.
The IPO of Amir Chand Jagdish Kumar (Exports) Ltd will be listed on the NSE and the BSE on the IPO mainboard. Anchor allocation happened on March 23, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Amir Chand Jagdish Kumar (Exports) Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Tuesday, 24 March, 2026 |
| IPO Close Date | Friday, 27 March, 2026 |
| Basis of Allotment | Monday, 30 March, 2026 |
| Initiation of Refunds to non-allottees | Wednesday, 01 April, 2026 |
| Credit of Shares to Demat | Wednesday, 01 April, 2026 |
| Listing Date on NSE and BSE | Thursday, 02 April, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | 28,30,380 shares | 13.02% of total IPO size |
| QIB Shares Offered | 79,59,995 shares | 36.62% of total IPO size |
| NII (HNI) Shares Offered | 32,83,583 shares | 15.11% of total IPO size |
| Retail Shares Offered | 76,61,692 shares | 35.25% of total IPO size |
| Total Shares Offered | 2,17,35,650 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement. Here is a quick look at the lot sizes applicable for the IPO of Amir Chand Jagdish Kumar (Exports) Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 70 | ₹ 14,840 |
| Retail (Max) | 13 | 910 | ₹ 1,92,920 |
| S-HNI (Min) | 14 | 980 | ₹ 2,07,760 |
| S-HNI (Max) | 67 | 4,690 | ₹ 9,94,280 |
| B-HNI (Min) | 68 | 4,760 | ₹ 10,09,120 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 70 shares)
FINANCIAL HIGHLIGHTS OF AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD
The table captures the key financials of Amir Chand Jagdish Kumar (Exports) Ltd for last 3 financial years.
| Particulars | FY25 | FY24 | FY23 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 2,001.65 | 1,549.52 | 1,315.85 |
| Sales Growth (%) | 29.18% | 17.76% | |
| Profit after Tax (₹ in crore) | 60.82 | 30.41 | 17.50 |
| PAT Margins (%) | 3.04% | 1.96% | 1.33% |
| Total Equity (₹ in crore) | 379.18 | 311.48 | 280.84 |
| Total Assets (₹ in crore) | 1,549.03 | 1,283.53 | 1,089.06 |
| Return on Equity (%) | 16.04% | 9.76% | 6.23% |
| Return on Assets (%) | 3.93% | 2.37% | 1.61% |
| Asset Turnover Ratio (X) | 1.29 | 1.21 | 1.21 |
| Earnings per share (₹) | 7.46 | 3.75 | 2.14 |
| EBITDA (₹ in Crore) | 163.65 | 109.66 | 79.69 |
| EBITDA Margins (%) | 8.18% | 7.08% | 6.06% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The company has fairly low PAT margins, although that has improved over the last 2 years. However, the retail business does have very low margins. What is positive is that the ROE of the company has more than doubled in the last 2 years from 6.23% to 16.04%. The EBITDA margins have also gone up steadily over the last 2 years.
VALUATION METRICS OF THE AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD IPO
At the IPO price of ₹212 per share, the indicative P/E comes to about 28.4X at the latest year EPS of ₹7.46 per share. The valuation does appear to be slightly on the higher side, if you look at the PAT margins and the ROE of the company. The retail business is generally a low PAT margin business, so that leverage is not available for valuations.
However, the company does bring some advantages to the table. It has a strong presence in over 38 countries, with an overall network of 431 distributors in India and 53 distributors located abroad. The company is also in the entire value chain of basmati, which enables them to have better controls over cost and quality. While it will not qualify strictly as a FMCG play, investors can look at this IPO for the long-term play.
BRIEF ON ANCHOR ALLOCATION OF AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD
The anchor issue of Amir Chand Jagdish Kumar (Exports) Ltd saw a modest response on 23rd March 2026 with 13.02% of the IPO size absorbed by anchors. Out of 2,17,35,650 shares (217.36 lakh shares) on offer in the IPO, anchors picked up 28,30,380 shares (28.30 lakh shares) accounting for 13.02% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹212 per share. This includes the face value of ₹10 per share plus a share premium of ₹192 per share. The anchor bidding opened and closed on 23rd March 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of Amir Chand Jagdish Kumar (Exports) Ltd
| Bid Date | March 23, 2026 |
|---|---|
| Shares Offered | 28,30,380 shares |
| Anchor Portion Size (₹ in crore) | ₹60.00 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | May 01, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | July 02, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD
On 23rd March 2026, Amir Chand Jagdish Kumar (Exports) Ltd allotted 28,30,380 shares to 3 anchor investors. The allocation was done at the upper IPO price band of ₹212 per share which resulted in overall anchor allocation of ₹60.00 crore. The anchors have already absorbed 13.02% of the total issue size of ₹460.80 crore. Listed below are the Top 3 IPO anchor investors who accounted for anchor collection of ₹60.00 crores, or, 100.00% of the overall anchor allocation of shares, one trading day ahead of the IPO of Amir Chand Jagdish Kumar (Exports) Ltd.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Rajasthan Global Securities Private Ltd | 18,86,850 | 66.66% | ₹ 40.00 |
| 02 | Lords’ Multi-growth Fund | 4,71,730 | 16.67% | ₹ 10.00 |
| 03 | Chanakya Opportunities Fund – I | 4,71,800 | 16.67% | ₹ 10.00 |
| Grand Total | 28,30,380 | 100.00% | ₹ 60.00 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation with the mutual fund portion separated can be accessed on BSE by clicking on the link below.
Out of the 28,30,380 shares allocated to the anchors in the IPO, there were no shares allocated to mutual funds regulated by SEBI or to life insurance companies regulated by the IRDAI. All the allottees were either NBFCs or AIFs.
NEXT STEPS IN AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD IPO
Post the closure of the IPO subscription on 27th March 2026, the basis of allotment will be finalized on 30th March 2026 and the refunds will be initiated on 01st April 2026. In addition, the demat credits are expected to also happen on 01st April 2026 and the stock will list on 02nd April 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st April 2026 under ISIN (INE05TO01019).
AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD - IPO SUBSCRIPTION STATUS ON DAY-1
As of 5.15 pm on 24th March 2026, out of the 189.05 lakh shares on offer in the IPO (excluding anchor portion), Amir Chand Jagdish Kumar (Exports) Ltd saw bids for 225.65 lakh shares. This implies an overall subscription of 1.19X at a macro level. The granular break-up of subscriptions at close of Day-1 of the IPO of Amir Chand Jagdish Kumar (Exports) Ltd was as under:
| Employees (N.A.) | QIBs (0.58X) | HNI / NII (4.61X) | Retail (0.37X) |
|---|
The subscriptions were led by the HNI / NII Investors followed by the QIB investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day, and that would be the case in this issue also. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. The company saw modest anchor participation a day ahead of the IPO opening with 13.02% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 28,30,380 | 28,30,380 | 60.00 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 0.58 | 79,59,995 | 45,98,580 | 97.49 |
| HNIs / NIIs | 4.61 | 32,83,583 | 1,51,35,540 | 320.87 |
| Retail Investors | 0.37 | 76,61,692 | 28,30,590 | 60.01 |
| Total | 1.19 | 1,89,05,270 | 2,25,64,710 | 478.37 |
Data Source: NSE / BSE (as of close of Day-1 of the IPO)
The IPO is open up to March 27, 2026, at which point we will know the final subscription status of the IPO. The total investor investment interest in the IPO as of the close of Day-1 of the IPO stood at ₹538.38 Crore (including the anchor allocation portion too).
AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.15 pm on 27th March 2026, out of the 189.05 lakh shares on offer in the IPO (excluding anchor portion), Amir Chand Jagdish Kumar (Exports) Ltd saw bids for 610.41 lakh shares. This implies an overall subscription of 3.23X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Amir Chand Jagdish Kumar (Exports) Ltd was as under:
| Employees (N.A.) | QIBs (1.11X) | HNI / NII (12.71X) | Retail (1.36X) |
|---|
The subscriptions were led by the HNI / NII Investors followed by the Retail investors and the QIB investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day, and was the case in this issue also; but more in the case of the HNI / NII quota rather than the QIB quota. Both the QIB and the NII bids pick up momentum on the last day since that is when the bulk HNI funding bids, corporate bids, and the bulk QIB bids come in. The company saw modest anchor participation a day ahead of the IPO opening with 13.02% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 28,30,380 | 28,30,380 | 60.00 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 1.11 | 79,59,995 | 88,68,090 | 188.00 |
| HNIs / NIIs | 12.71 | 32,83,583 | 4,17,20,280 | 884.47 |
| Retail Investors | 1.36 | 76,61,692 | 1,04,52,190 | 221.59 |
| Total | 3.23 | 1,89,05,270 | 6,10,40,560 | 1,294.06 |
The IPO of Amir Chand Jagdish Kumar (Exports) Ltd was open up to March 27, 2026, and has closed for subscription as of the close of trading hours on March 27, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹1,354.06 crore.
ABOUT THE AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD IPO
The IPO of Amir Chand Jagdish Kumar (Exports) Ltd opened on March 24th, 2026 and closed on March 27th, 2026. The IPO comprised entirely of a fresh issue of shares of 2,17,35,650 shares (217.36 lakh shares) worth ₹460.80 crore at the upper band price of ₹212 per share. The allotment status will be finalized by EOD of March 30, 2026. Here is how to check allotment status for the IPO of Amir Chand Jagdish Kumar (Exports) Ltd. You can check IPO status on BSE or NSE or IPO Registrar website of KFIN Technologies Ltd (KFINTECH).
CHECKING ALLOTMENT STATUS OF AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD ON BSE WEBSITE
This is a common link for all mainboard IPOs. Click on BSE link for IPO allotment as below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
- Under Issue Type – Select Equity Option
- Under Issue Name – Select Amir Chand Jagdish Kumar (Exports) Ltd from the drop-down box
- Enter the Application Number / CAF exactly as in the acknowledgement slip
- Alternatively, Enter your PAN (10-digit alphanumeric) number
- Once this is done, you need to click on the Captcha to verify you are not a robot
- Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Amir Chand Jagdish Kumar (Exports) Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
- Under Issue Type – Select Equity & SME IPO Details Option
- Under SELECT SYMBOL – Select AMIRCHAND from the drop-down box
- Enter the Application Number / CAF exactly as in the acknowledgement slip
- Enter your PAN (10-digit alphanumeric) number
- Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Amir Chand Jagdish Kumar (Exports) Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF Amir Chand Jagdish Kumar (Exports) Ltd ON KFIN TECHNOLOGIES LTD (REGISTRAR TO THE IPO)
Visit the website of KFIN Technologies Ltd, which has been appointed as the registrar for the issue. You can access their website for IPO status by clicking on the link below:
https://kosmic.kfintech.com/ipostatus/
KFIN Technologies Ltd provides details of IPOs managed by them and where allotment status is finalized. Radio buttons allow you to opt to see all IPOs or just recent IPOs. The latter option reduces the list of IPOs to search. Once you click on Recent IPOs, dropdown shows recent active IPOs, where allotment status is finalized. Select Amir Chand Jagdish Kumar (Exports) Ltd.
THERE ARE 3 WAYS TO QUERY ALLOTMENT STATUS ON KFIN TECHNOLOGIES LTD
To Query by Application Number, check the appropriate box and follow these steps.
- Enter the Application Number as it is
- Enter the 6-digit Captcha Code
- Click on Submit button
- Allotment Status gets displayed on screen
Unlike in the past, now you do not have to select ASBA versus Non-ASBA option.
To Query by Demat Account, check the appropriate box and follow these steps.
- First select the depository (NSDL / CDSL)
- Enter the DP-ID (Alphanumeric for NSDL and Numeric for CDSL)
- Enter the Client-ID in the second box
For NSDL, the Demat account is 2 strings; for CDSL it is just 1 string
- Enter the 6-digit Captcha Code
- Click on Submit button
- Allotment Status gets displayed on screen
To Query by PAN, check the appropriate box and follow these steps.
- Enter the 10-Character PAN number, available on your PAN card
- After you enter the PAN number, Enter the 6-digit numeric Captcha Code
- Click on Submit button
Allotment status gets displayed on screen
If captcha code is not clear; toggle for more options. Retain a screenshot of the allotment status output for future reference. This can be tallied with demat credit post allotment.
NEXT STEPS IN THE AMIR CHAND JAGDISH KUMAR (EXPORTS) LTD IPO
Post the closure of the IPO subscription on 27th March 2026, the basis of allotment will be finalized on 30th March 2026 and the refunds will be initiated on 01st April 2026. In addition, the demat credits are expected to also happen on 01st April 2026 and the stock will list on 02nd April 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 01st April 2026 under ISIN (INE05TO01019).
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