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HomeIPOAmir Chand Jagdish Kumar (Exports)

About Amir Chand Jagdish Kumar (Exports)

Amir Chand Jagdish Kumar (Exports) Limited is a rice processor and exporter of other FMCG products. The company is incorporated under the companies act, 2003. The company’s operations are totally integrated in the entire spectrum of the basmati rice industry. The products are broadly classified under the following segments: Rice-The company processes a variety of rice products including Basmati rice and other varieties such as Kolam rice, Sona Masuri rice, Idli rice, Ponni rice, etc. FMCG-The company processes a variety of FMCG products such as aata, maida, sooji, besan, salt, sugar, etc. The products are marketed under the Flagship Registered & Trademarked Brand “AEROPLANE,” which has more than 40 sub-brands such as Aeroplane La-Taste,Aeroplane Classic, Ali Baba, World Cup, “Jet, etc. As on March 12, 2026, the company has registered a total of 100 trademarks. This includes 70 trademarks in India and 30 trademarks in 26 countries mainly located in Europe, Asia, Africa. Additionally, the company holds 22 copyrights in India. The products are being sold both in the domestic market as well as in the international market for rice products, whereas the products of FMCG are being sold in the domestic market only. The revenue from the domestic business has grown at a CAGR of approximately 24.93% from Fiscal 2022 to Fiscal 2024. The company has exported products to over 38 countries on four continents as on February 28, 2026. The company has two manufacturing and processing units located in India. Unit I is located in Amritsar (Punjab), whereas Unit II is located in Safidon (Haryana). The company has 225 permanent employees as on February 28, 2026.

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Amir Chand Jagdish Kumar (Exports)

Amir Chand Jagdish Kumar (Exports)

Open Date

Mar 24, 2026

Close Date

Mar 27, 2026

listed

Min Investment

₹14,840

Lot Size

70 Shares

Issue Size

₹440 Cr

Price Range

₹201 - ₹201

Listing Date

Apr 2, 2026

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Revenue Growth

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹2(+1.00%)GMP
0.94%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Amir Chand Jagdish Kumar (Exports) IPO - Issue Objectives

The company will use ₹400 crore for working capital requirements of the business. Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Working capital requirements

90.9%

General corporate purposes and issue expenses

9.1%

1

Working capital requirements

The company will use ₹400 crore for working capital requirements of the business.

90.90%
2

General corporate purposes and issue expenses

Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

9.10%

IPO Subscription Status

QIB
1.18x
NII
13.40x
Individual
1.44x
Total
3.41x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Amir Chand Jagdish Kumar (Exports)

In Cr.

Key Performance Indicator30-Sep-25 (In Cr.)31-Mar-25 (In Cr.)31-Mar-24 (In Cr.)31-Mar-23 (In Cr.)
Revenue1,024.302,004.031,551.421,317.86
EBITDA105.76163.65109.6679.69
Expenses
Profit After Tax48.6560.8230.4117.50
Assets1,526.421,549.031,283.531,089.06
Net Worth440.89379.18311.48280.84
Reserves
Borrowing739.74784.06777.62667.53

Amir Chand Jagdish Kumar (Exports) - Promoter(s)

Jagdish Kumar Suri

Rahul Suri

Ramnika Suri

Pre Issue Share Holding

99.44%

Post Issue Share Holding

78.78%

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Strategic location & strong procurement network

The company has its production facilities in Punjab and Haryana and has a packaging facility located in New Delhi, which is in proximity to large basmati paddy markets. With Punjab, Haryana, and Uttar Pradesh accounting for over 97% of India's basmati output, the proximity to its markets permits the company to access raw materials quickly, save on shipping costs, maintain a steady supply chain and create better pricing agreements with its suppliers.

02

Fully integrated value chain

The company performs the majority of its operations within the internal logistics network; this includes purchasing paddy, processing, packaging, branding, and selling the finished product. By integrating all of these activities into one business model, it can more effectively manage costs and maintain uniform product quality.

03

Wide & growing distribution network

The company has established a strong distribution system throughout India, with general trade, modern retail, and online channels. The number of distributors increased from 380 in March 2023 to 431 in February 2026. In addition to selling through retail outlets, the company sells directly to institutional clients (hotels, hospitals, caterers, airlines, etc.) and through its own website, providing the company with better reach and control over its sales.

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Raw material concentration

The company is heavily reliant on rice for revenue (over 97%), and direct materials used in producing rice constitute approximately 87-90% of total costs. The company has no hedging or long-term supply contracts for basmati paddy and relies on sourcing from a small number of states through informal arrangements, leading to price and supply risks due to fluctuations in prices and volumes.

02

Dependence on procurement agents

Of all the procurement agents operating with the company, the top 10 agents account for approximately 50% of total purchases in FY25, while the largest agent alone accounted for approximately 20% of the company's purchases in H1FY26. The company uses 325 procurement agents; however, none have signed formal contracts, which increases the risk of supply disruption.

Contact Details

Amir Chand Jagdish Kumar (Exports)

2735, Shop No. 9, Mohan Lal Palace, Naya Bazar New Delhi, New Delhi, 110006

+918595912447
info@aeroplanerice.com
http://www.aeroplanerice.com/

Registrar Contact Details

Kfin Technologies Ltd.

04067162222
acjkel.ipo@kfintech.com
https://ipostatus.kfintech.com/

Amir Chand Jagdish Kumar (Exports) IPO - FAQs

Amir Chand Jagdish Kumar (Exports) IPO is a Mainboard IPO. The issue is priced at 201-₹212. The minimum order quantity is 70 Shares. The IPO opens on 24 Mar, and closes on 27 Mar. Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.









IPO Timeline

  • Pre Apply2026-03-20
  • Bidding Starts2026-03-24
  • Bidding Ends2026-03-27
  • Allotment Finalisation2026-03-30
  • Release of Funds2026-04-01
  • Demat Transfer2026-04-01
  • Listing2026-04-02
04

Strong international presence

The company has a significant export business, holds a Three Star Export House designation with the Ministry of Commerce and Industry, and has a large presence in the Middle East and also exports to Australia, South Africa, Europe, and Azerbaijan.

05

Established brand with 40+ years of legacy

The company’s main brand, “Aeroplane,” has been around for over 40 years and has built strong recognition over time. It has also expanded to include 40-plus sub-brands, including Aeroplane La-Taste, Aeroplane Classic, Ali Baba, World Cup, and Jet, to suit diverse customer segments.

03

High debt and leveraged balance sheet

The company has a high overall debt of ₹739.70 crore, and the debt-to-equity ratio still remains at a high 1.68x in H1FY26. The loans are generally floaters and secured against key assets, which increases both the risk of increased interest and the likelihood of asset seizures in the event of a default.

04

High working capital requirements

The business has an intense short season for procuring paddy from September to January. However, the company ages the product for three to 24 months before selling, which leads to significant inventory holding (e.g., 157–176 days). As a result, the company will have a very large working capital requirement due to these inventory holdings, which will need to be financed through short-term loans, causing a liquidity mismatch.

05

Export policy and intervention risk

Exports form a key part of revenue, though dependence has fluctuated, as the Middle East contributed 44.71% in FY24 to 14.27% in H1FY26. The business remains exposed to government export restrictions and import bans by key countries, which can impact demand.