Amir Chand Jagdish Kumar IPO subscribed 2.37 times so far on Day 3: Check allotment date and steps

Amir Chand Jagdish Kumar IPO: The initial public offering of basmati rice exporter Amir Chand Jagdish Kumar (Exports) has been subscribed 2.37 times so far on Friday, March 27, the final day of bidding.

It has received bids for 4,48,68,460 shares compared to 1,89,05,270 shares on offer, according to the details available with the NSE until 1:21 pm. Non-institutional investors subscribed their part 9.13 times, while the quota for qualified institutional buyers (QIBs) was booked 93%. The portion reserved for retail investors was subscribed 98%.

The ₹440 crore initial share sale is only a fresh issuance of 2.08 crore shares, with no offer for sale (OFS) component.

The money raised is proposed to be utilised for funding working capital requirements and general corporate purposes. "Our company expects to receive the benefits of listing of the equity shares on the stock exchanges including enhancing our company’s visibility, brand name amongst our existing and potential customers and creation of a public market for our equity shares in India," according to red herring prospectus.

With a price band of ₹201 to ₹212 per share, a lot consists of 70 shares.

Amir Chand Jagdish Kumar (Exports) Ltd, which sells its products under the 'Aeroplane' brand, is a processor and exporter of basmati rice in India.

Amir Chand Jagdish Kumar IPO: Allotment and listing date

The basis of allotment of Amir Chand Jagdish Kumar (Exports) Ltd is expected to be finalised on Monday, March 30. The listing on bourses will take place on April 2.

How to check Amir Chand Jagdish Kumar IPO allotment status on NSE

• Open this link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Choose ‘Equity & SME IPO bid details’
• Pick 'AMIRCHAND' from the 'Select Symbol' list
• Mention your PAN and application number
• Press the submit button

Steps to check Amir Chand Jagdish Kumar IPO allotment status on KFin Technologies

• Go to registrar KFin Technologies' allotment portal: https://ipostatus.kfintech.com/
• In the ‘Select IPO’ section, choose 'Amir Chand Jagdish Kumar (Exports) Ltd'
• Add your PAN, IPO application number or Demat account number
• Click on the ‘Submit’ button

Amir Chand Jagdish Kumar IPO GMP

According to investorgain.com and media reports, Amir Chand Jagdish Kumar's unlisted shares are trading at ₹220, reflecting a grey market premium of 3.77% or ₹8 compared to the upper price band of ₹212.