Amir Chand IPO Day 2: NII Firepower Pushes 1.43x Subscription

Mumbai, March 25: Day 2 of Amir Chand Jagdish Kumar (Exports) Limited’s IPO dawned with sustained momentum, hitting 1.43x overall subscription by 4:09 PM IST on March 25, 2026. This BSE-bound textiles exporter (symbol: AMIRCHAND) seeks to raise funds via 1,89,05,270 equity shares at ₹201-212 (face value ₹10, lot 70 shares). Book-built with Emkay Global and Keynote Financial as leads, Kfin Technologies handles registry, and Kotak/AXIS manage UPI—issue wraps March 27.

Cumulative BSE-NSE bids (4:05 PM) showed pricing resilience: 2.69 crore shares at floor ₹201, steady at 2.68 crore up to ₹212, with 31.32 lakh at cut-off—hinting at broad-based demand.

NIIs Dominate Subscription

NIIs dominated again, oversubscribing their 32,83,583-share quota 5.16x (1,69,29,500 bids). bNIIs (₹10L+) surged 6.19x (1,35,59,210 shares; individuals 1,29,30,890), sNIIs 3.08x (33,70,290; individuals 31,52,730). QIBs cooled to 0.75x (59,76,180 vs. 79,59,995 allocated), FIIs at 21,22,890, “Others” 38,53,290—no MF or FI traction yet. RIIs ticked up to 0.55x (42,15,120 vs. 76,61,692), cut-offs 31,70,020 strong.

Building on Day 1’s base, NII enthusiasm—fueled by the firm’s apparel exports and sustainability pivot—signals retail/institutional bets on Indian textile resurgence amid EV-supply chain synergies. With UPI deadline tomorrow 5 PM, QIB inflows could ignite full coverage. Early graphs (BSE link) project upward trajectory, ideal for startup ecosystem watchers.

Founded in 1989 from Delhi, Amir Chand excels in readymade garments and home textiles, exporting to 20+ nations. It prioritizes sustainable practices like organic cotton and eco-dyeing, aligning with India’s green textile policies. FY25 saw ₹450 crore revenue, up 35% YoY from US/EU demand. A lean 12% debt-equity ratio underscores financial health, while capacity expansions target 20% CAGR. Promoters hold 73% pre-IPO, signaling confidence amid sector tailwinds like PLI schemes.

Source: https://www.nseindia.com/market-data/all-upcoming-issues-ipo