IPO
Gold & silver supply chain platform Augmont’s Rs.825-Cr IPO subscribed 106 times
The INR 825-Cr initial public offering (IPO) of Mumbai-based Augmont Enterprises has been subscribed 105.78 times. The issue received bids for 81.62 crore shares against 77.16 lakh shares on offer. Qualified institutional buyers’ portion was subscribed 226.96 times, followed by the non-institutional investor category at 121.47 times. Retail investors subscribed 30.98 times their quota, while the employee portion was subscribed 21.14 times. The price band was fixed at INR 750-788 per share.The issue comprised a fresh issue of shares worth INR 620-Cr and an offer for sale of INR 205-Cr by existing shareholders Namita Ketan Kothari, Vivek Prithviraj Kothari, and Dimple Mukesh Kothari.Augmont Enterprises operates across the gold and silver value chain, primarily through a business-to-business (B2B) spot platform that serves 5,223 jewellers across 20 delivery centres in India.The company plans to use INR 465-Cr of the fresh issue proceeds to meet working-capital requirements, including the procurement and maintenance of inventory and meeting advance-margin requirements.
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