The public issue of Augmont Enterprises opens today at a price band of ₹750-788. Bids can be made for a minimum of 19 equity shares.
The ₹825 crore offer comprises a fresh issue aggregating up to ₹620 crore and an offer for sale of up to ₹205 crore by certain existing shareholders including Namita Ketan Kothari, Vivek Prithviraj Kothari and ₹66.2 crore by Dimple Mukesh Kothari.
Up to 50 per cent of the net offer is being reserved for qualified institutional buyers, 35 per cent for retail investors and up to 15 per cent for high net worth individuals. The offer also comprises a reservation of such number of equity shares aggregating up to ₹4 crore for purchase by eligible employees of the company.
The company plans to use the IPO proceeds primarily to fund its future working capital needs, including procurement and expansion of inventory, inventory maintenance and advance margin requirements for purchasing inventory and for general corporate purposes.
As part of the IPO, the company on Thursday raised ₹246.29 crore from anchor investors by allotting 31,25,633 equity shares to 14 anchor investors such as Nomura Trust and Banking Co., HDFC Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund, Jupiter India Fund, Jupiter Global Fund, Lion Global Investment Funds, Edelweiss Life Insurance Company, Trust MF Flexi Cap Fund, Authum Investment and Infrastructure Ltd, Ashish Kacholia’s Bengal Finance and Investment, Girik Multicap Growth Equity Fund, 360 ONE Alternates Asset Management / 360 ONE WAM and Societe Generale – ODI.
Augmont Enterprises operates an integrated gold and silver platform serving businesses and consumers across 24 states. Its operations span gold and silver value-chain activities, including procurement and refining, bullion trading, digital gold offerings, jewellery manufacturing, financial services, and related technology platforms.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd (NSE) and BSE Ltd (BSE). For the offer, NSE shall be the designated stock exchange.
Nuvama Wealth Management Ltd, Intensive Fiscal Services Private Ltd, JM Financial Ltd and Motilal Oswal Investment Advisors Ltd are the book running lead managers to the offer.
Brokers’ views:
Anand Rathi: Augmont Enterprises Ltd, one of the few companies in India with a presence across both online and offline channels for the purchase of gold and silver. Its integrated platform caters to jewellers, consumers and retail investors, offering transparent trading and access to authentic, original and hallmarked precious-metal products.
The integrated bullion platform and expanding consumer offerings provide strong growth avenues, while favourable gold and silver prices have supported healthy revenue and profit growth.
At the upper price band, based on annualised FY26 earnings the issue is valued at 20.6x P/E and 18.3x FY26 EV/EBITDA, implying a post-issue market capitalisation of ₹7,200 crore making the issue fully priced.
However, its business remains exposed to volatility in gold and silver prices, thin operating margins inherent to the bullion trading business and dependence on continued growth in transaction volumes. Backed by a strong brand, extensive distribution network, robust refining capabilities and a scalable digital ecosystem, the company is well positioned to benefit from the increasing formalisation and digitalisation of India’s gold and silver market. Thus, we assign a Subscribe for Long Term rating for the issue.
Published on August 21, 2026
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