As an investor, it can be very challenging to decide whether the Amir Chand Jagdish Kumar IPO is a good or bad investment. Not anymore. On this blog, we will provide you with all the necessary details related to the Amir Chand Jagdish Kumar IPO to help you decide whether to Apply or Not. Read on to know the IPO risks, strengths, valuation, financial details, and expert opinion to make your investment decision better.Ā
Strengths:
- Amir Chand is one of the leading producers and exporters that sells its products under the brand name Aeroplane. Its products are sold under various sub-brands like Aeroplane La-Taste, Aeroplane Classic, Ali Baba, World Cup, and Jet.
- Amir Chand is one of the few brands that handles everything in its basmati rice business, including buying, storing, processing, marketing, and selling of its rice products.Ā
- As of February 2026, the firm has a network of 431 distributors, enabling its products to reach a broad range of customers.
- The firm has been awarded the status of āThree Star Export Houseā by the Ministry of Commerce and Industry, making it a recognized brand.
Weaknesses:Ā
- During the rice-harvesting season, the company is required to purchase a large quantity of basmati paddy (raw material). To do so, the firm must maintain a large working capital buffer; if funds are unavailable, its business can suffer.
- The firm has a high debt-to-equity ratio of 2.07 and had total borrowings of ā¹739.74 as of 2025. If not able to pay on time, or if borrowings are continued, they can adversely affect the business and its financial performance.
- The firm must meet its customers’ quality requirements. Failing to meet customers’ quality standards can lead to the loss of existing and new orders, which can impact the business and cash flow.Ā
- Failure to properly store, process, or handle basmati rice can damage inventory and negatively affect business operations.Ā
Amir Chand Jagdish Kumar IPO ReviewĀ
| Reviewer | Recommendation |
| IPO Watch | Neutral |
| Axis Capital | Not Rated |
| Capital Market | Avoid |
| SBICAP Securities Limited | Apply |
| Swastika Investmart Ltd | Avoid |
Promoters & Track Records, if anyĀ
- Jagdish Kumar Suri, aged 76, is one of the Promoters and the Chairman and Managing Director of the Company. He holds 74,101,350 equity shares, representing 89.50% of the paid-up capital.
- Rahul Suri, aged 50 years, is one of the Promoters and a whole-time director of the Company. He holds 6,878,850 equity shares, representing 8.31% of paid-up capital.
- Ramnika Suri, aged 75, is one of the Promoters and a non-executive non-independent director of the Company. She holds 300,000 equity shares, representing 0.36% of paid-up capital.
Peer Comparison with the Company
| Name of the Company | Face Value(ā¹) | EPS Basic(ā¹) | EPS Diluted | RONW (%) | P/E Ratio | NAV(ā¹) |
| Amir Chand Jagdish Kumar | 10 | 7.46 | 7.46 | 17.61% | 28.86 | 46.29 |
| Peers group | ||||||
| LT Foods Limited | 1 | 17.43 | 17.43 | 16.81% | 21.67 | 21.38 |
| KRBL Limited | 1 | 20.80 | 20.80 | 9.43% | 15.04 | 27.20 |
| Chaman Lal Setia Exports Limited | 2 | 20.68 | 20.68 | 14.22% | 12.18 | 19.46 |
| GRM Overseas Limited | 2 | 10.21 | 8.87 | 16.09% | 15.34 | 15.18 |
| Sarveshwar Foods Limited | 1 | 0.28 | 0.27 | 9.68% | 11.79 | 0.93 |
Industry Peer Group P/E ratioĀ
The Basmati rice industry P/E ratio ranges from 11.79 to 21.67, with an average of 15.20, where LT Foods Limited has the highest P/E and Sarveshwar Foods Limited has the lowest.
Expansion
- The proceeds raised from the fresh issue will be utilized to meet the company’s working capital requirements.
- Lastly, the remaining funds will be used for general corporate purposes.
Amir Chand Jagdish Kumar IPOāShould You Apply or Not?
Amir Chand Jagdish Kumar, who is a prominent leader in the manufacturing and exporting of Basmati rice, is launching its IPO on the 24th of March. The firm is looking to raise ā¹440 crore entirely via fresh issue, meaning no existing shareholders are selling their stake in the IPO. The firm sells a wide range of basmati rice under its flagship brand Aeroplane. As per the RHP, Amir Chand is ranked 3rd among its peers in terms of revenue. Apart from rice, the company is also engaged in the FMCG segment, where they complete everyday essentials.Ā
The firm has both domestic and international presence, with ownership of 100 trademarks, with 70 in India and 30 in other countries. Looking at its financials, the companyās revenue grew at a CAGR of approximately 23.3%, from ā¹1,317.86 crore in FY23 to ā¹2,004.03 crore in FY25. With its PAT increased from ā¹17.50 crore in FY23 to ā¹60.82 crore in FY25, showcasing healthy financial growth. As for its valuation, on the upper price band, the firm is asking for a PE of 28.86x. When compared to the average industry PE, the IPO is priced at a very high valuation.
As of March 23rd, the GMP for the Amir Chand Jagdish Kumar IPO is ā¹6, indicating a listing gain of around 2% to 3%. Now, the question is, should you Apply or Avoid this IPO? The consistently growing financials, strong international presence, and the support of experienced promoters make it an attractive IPO. However, we cannot ignore additional red flags, such as a high debt ratio, pending tax proceedings, and a high valuation.
Our View: If the GMP and subscription numbers stay within support, investors can apply for the IPO to capture listing gains. Long-term investors must carefully evaluate the company and market volatility before investing.
Please note:Ā
Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the companyās RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
