Augmont Enterprises IPO Day 2: Subscribed 2.74x, NII category leads

The initial public offering of Augmont Enterprises Limited was subscribed 2.74 times overall as of August 21, 2026, afternoon, the second of three bidding days, with the issue remaining open through August 25.

Total bids received stood at 2,11,43,029 shares against 77,15,999 shares on offer. The non-institutional investor (NII) category led with 3.97x subscription, driven by the sub-₹10 lakh NII bucket which was subscribed 5.82 times.

Retail individual investors (RIIs) subscribed 2.79x, while qualified institutional buyers (QIBs) were subscribed 1.76x. The employee reservation portion was subscribed 1.41x.

The IPO, priced at ₹750–788 per share, seeks to raise ₹8,250 million at the upper band, comprising a fresh issue of ₹6,200 million and an offer for sale of ₹2,050 million.

Proceeds from the fresh issue are primarily earmarked for working capital requirements related to bullion procurement and inventory management.

Augmont is an integrated precious metals and gold-tech company operating through two platforms, Augmont SPOT, a B2B bullion trading platform, and Augmont Gold For All, a consumer-facing digital gold platform.

The company reported revenue from operations of ₹941,862 million in FY26, a 42.2 per cent year-on-year increase, while consolidated PAT grew to ₹3,483 million from ₹2,272 million in FY25.

Anand Rathi Research, in its IPO note, assigned a “Subscribe for Long Term” rating, noting that at the upper price band the issue is valued at 20.6x P/E and 18.3x EV/EBITDA on annualised FY26 earnings, implying a post-issue market capitalisation of ₹72,002 million.

The brokerage flagged thin operating margins of 0.4 per cent EBITDA and exposure to precious metal price volatility as key risks, while citing the company’s strong brand, distribution network and scalable digital ecosystem as positives.

Published on August 24, 2026