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Indian-owned, New York Stock Exchange-listed Amira Nature Foods has secured an order from an Indonesian buyer for the supply of 90,000 tonnes of Indian speciality rice (basmati) for $39.4 million.
Amira, set up in 1915 and owned by the Chanana family, came out with its IPO in the US in October this year. The company then said that the listing of Amira on NYSE was the “the first NYSE listing from India in the past five years’’.
Amira’s Chairman and CEO Karan Chanana said in a press release that the Indonesian order was the second from the same customer.
“We expect that this deal will provide strong revenue streams in the current fiscal year and support one of our key growth initiatives of leveraging such sales of third party branded products to expand the penetration of our Amira branded products,” Chanana said in the release.
Amira sells basmati rice, a premium long-grain rice grown only in certain regions of the Indian sub-continent, under the brand ‘Amira’ as well as under other third party brands. Basmati is a special species of rice.
According to an estimate, only two million tonnes of basmati rice is grown in the world annually, compared with 500 mt of all varieties of rice.
Amira’s headquarters are in Dubai, the United Arab Emirates, and it also has offices in India, Malaysia, Singapore, the United Kingdom, and the United States.
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