Aeroplane Rice plans to tap capital markets, files IPO papers to raise Rs 550 crore

 

The IPO consists of solely fresh issuance of shares worth Rs 550 crore. Of which, Rs 500 crore will be utilised for working capital requirements and the remainder for general corporate purposes.

The company may consider fund raising up to Rs 50 crore in pre-IPO round. If it successfully closes pre-IPO placement, the said amount will be reduced from the fresh issue.

Amir Chand Jagdish Kumar (Exports) is the third largest company in the basmati rice segment in terms of revenue, amongst the listed entities after LT Foods, and KRBL. Chaman Lal Setia Exports, GRM Overseas, and Sarveshwar Foods are other listed competitors to the company.