Amir Chand Jagdish Kumar IPO Update: Subscription Reaches 1.47x on Day Three

Amir Chand Jagdish Kumar IPO Update

The initial public offering of Amir Chand Jagdish Kumar (Exports), a basmati rice exporter, has seen a subscription rate of 1.47 times by the second day of bidding on March 25.

Key Highlights:

• On March 23, the company raised ₹60 crore from anchor investors.
• The IPO price band is set between ₹201 and ₹212 per share, giving the company a valuation of ₹2,200 crore.
• The company intends to use the net proceeds from the offering to meet its working capital needs and for general corporate purposes.
• The IPO includes a fresh issuance of equity shares, with no offer-for-sale (OFS) portion included.

Read also: SpaceX Seeks Record $75 Billion IPO, Potentially Positioning Elon Musk as the World's First Trillionaire

IPO Details:

• Subscription rate: 1.47 times
• IPO price band: ₹201 - ₹212 per share
• Valuation: ₹2,200 crore
• IPO closing date: March 27
• IPO GMP: ₹8