Augmont Enterprises Ltd. listed at a 21.95% premium to the higher end of its issue price band at Rs 961 on the NSE on Monday.
The initial public offering (IPO) of Augmont Enterprises was oversubscribed 105.78 times by the third and final day of bidding on Aug. 25.
The IPO received bids for 81,61,86,230 shares against 77,15,999 shares offered. Qualified Institutional Buyers (QIBs) booked the issue 226.96 times on the NSE platform. The Non-Institutional Investors (NIIs) category was subscribed 121.47 times. Retail investors booked their quota 30.98 times.
The total issue size stood at Rs 825 crore and the price band was fixed at Rs 750–Rs 788 per share. The minimum bid size for retail investors is 19 shares, requiring an investment of Rs 14,972 at the upper end of the price band.
Nuvama Wealth Management Ltd. was the book-running lead manager and MUFG Intime India Ltd. was the registrar to the issue.
The company plans to utilise the net proceeds from the fresh issue primarily towards funding future working capital requirements supporting inventory procurement, maintenance, and advance margin requirements (Rs 465 crore), along with General corporate purposes.
About The Company
Incorporated in October 2012, Augmont Enterprises is an integrated gold and silver platform serving businesses and consumers across India and international markets.
The Company operates across multiple segments of the gold and silver value chain, including procurement and refining, bullion trading, digital gold, jewellery manufacturing, international sales and technology support for gold-backed financial services.
Its business is operated through the Augmont SPOT platform for enterprise and international sales and Augmont Gold For All for consumer-focused offerings, supported by online and offline distribution channels.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.