Amir Chand IPO Final Day: NIIs Drive 3.23x Subscription Surge

Mumbai, March 27: The initial public offering (IPO) of Amir Chand Jagdish Kumar (Exports) Limited concluded its four-day run with a robust finale, achieving an overall subscription of 3.23 times by the closing bell at 5:00 PM IST on March 27, 2026. The BSE-bound textiles and apparel exporter, trading under the symbol AMIRCHAND, successfully tapped into significant investor appetite, particularly from the non-institutional segment, to navigate a competitive primary market landscape.

The issue, which offered 1,89,05,270 equity shares within a price band of ₹201–212, saw cumulative bids for over 6.10 crore shares. Pricing resilience was a hallmark of the final day; the demand schedule revealed that 6.09 crore shares were bid at the upper cap of ₹212, while nearly 78.4 lakh shares were placed at the “cut-off” price, signaling high confidence in the company’s valuation and its pivot toward sustainable textile exports.

Non-Institutional Investors (NIIs) emerged as the powerhouse of the IPO. This category oversubscribed its allocated quota of 32,83,583 shares by a massive 12.71 times. Within this segment, the “Big NII” category (bids exceeding ₹10 lakh) was particularly aggressive, subscribing 15.21 times. High-net-worth individuals led this charge with over 3.14 crore shares, while corporate interests added another 1.73 lakh shares. The “Small NII” segment (bids between ₹2 lakh and ₹10 lakh) also showed strength, closing at 7.70 times its reserved portion.

Qualified Institutional Buyers (QIBs), who appeared cautious during the earlier days of the issue, stepped up in the final hours to ensure the category was covered 1.11 times. Demand in this space was almost entirely driven by Foreign Institutional Investors (FIIs), who bid for 36.06 lakh shares, and “Others” (including AIFs and VCs), who accounted for 52.41 lakh shares. Domestic participation remained muted, with only negligible bids from banks and mutual funds.

Retail Individual Investors (RIIs) also turned a corner on the final day, pushing their subscription level to 1.36 times. Out of the 76.61 lakh shares offered to the public, demand reached 1.04 crore shares, with a significant 78.44 lakh shares coming in at the cut-off price.

With the bidding window now closed, the focus shifts to the basis of allotment. Handled by Kfin Technologies, the finalization is expected shortly, marking a successful debut for Amir Chand as it prepares for its BSE listing.

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