Amir Chand Jagdish Kumar Exports IPO lists at discount, shares hit lower circuit on BSE and NSE

Amir Chand Jagdish Kumar Exports shares made a weak stock market debut on Thursday. The basmati rice exporter listed at over a 17 per cent discount to the issue price of Rs 212. The stock hit lower circuit limits on both key exchanges by the close. Trading volumes stayed heavy through the session.

Representative image

On the BSE, the stock opened at Rs 195, down 8.02 per cent. Selling pressure then increased, and the share fell 17.22 per cent. It ended at Rs 175.50 a share, which was also the lower circuit limit. On the NSE, it began at Rs 200, down 5.66 per cent.

Amir Chand Jagdish Kumar Exports IPO details and subscription

The company raised Rs 440 crore through its Initial Public Offering. The IPO was subscribed 3.23 times on the final day, March 27. The price band was set at Rs 201-212 per share. The issue consisted only of a fresh issue of equity shares, with no Offer For Sale component.

The offer size was cut to Rs 440 crore from Rs 550 crore. The higher figure was mentioned in the Draft Red Herring Prospectus filed in June 2025. Amir Chand Jagdish Kumar Exports planned to use the net proceeds for working capital needs. Part of the funds were also earmarked for general corporate purposes.

Amir Chand Jagdish Kumar Exports share price, valuation and volumes

On the NSE, the shares later dropped 15.09 per cent to close at Rs 180. This level was also the lower circuit limit on the exchange. After the session ended, the company’s market valuation was Rs 1,863.93 crore on the NSE. The sharp fall came despite steady trading interest.

Activity was higher on the NSE than on the BSE. A total of 3.37 crore equity shares were traded on the NSE during the day. On the BSE, 12.74 lakh shares changed hands. The wide participation matched the stock’s sharp move on listing day.

Amir Chand Jagdish Kumar Exports business and competition

Amir Chand Jagdish Kumar Exports Ltd processes and exports basmati rice from India. The company sells products under its flagship brand Aeroplane. It faces competition from KRBL Ltd, LT Foods, and Sarveshwar Foods. It also competes with several unorganised rice processors operating across the market.

Beyond basmati rice, the company has expanded into FMCG products. It offers staples and other essential kitchen items alongside its core business. The listing-day fall left the stock at lower circuit levels on both exchanges. Even so, the company remained valued in the mid-cap range after trading ended.

With inputs from PTI