Augmont Enterprises IPO opens Aug 21: Check price band, lot size, objectives and key dates

Integrated gold and silver platform Augmont Enterprises will launch its ₹825 crore initial public offering on August 21. The issue will end on August 25. The price band has been set at ₹750 to ₹788 per share.

The initial share sale is a combination of new equity shares valued at ₹620 crore and an offer for sale (OFS) of ₹205 crore by promoters Namita Ketan Kothari, Dimple Mukesh Kothari and Vivek Prithviraj Kothari.

The company will use funds to the tune of ₹465 crore for funding future working capital needs towards procurement, maintenance and scaling up inventory and funding advance margin requirements for procurement of inventory. The rest will be used for general corporate purposes.

"Our company expects to receive the benefits of listing of the equity shares on the stock exchanges which will result in the enhancement of our brand name and creation of a public market for our equity shares in India," the firm said in its red herring prospectus.

Augmont Enterprises IPO: Lot size

A lot consists of 19 shares and in multiples thereof. The firm has reserved half of the net offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Augmont Enterprises IPO: Allotment and listing date

Augmont Enterprises Ltd is an integrated gold and silver platform serving businesses and consumers. Its operations span across multiple segments of the gold and solver value chain, including procuring and refining, bullion trading, jewellery manufacturing, digital gold offerings, international sales and facilitating gold-backed financial services.

It operates in two business verticals via distinct online platforms, which are complemented by its physical distribution network: (i) enterprise sales (through the ‘Augmont SPOT’ platform) and international sales; and (ii) consumer-focused offerings, delivered through the ‘Augmont Gold For All’ platform and offline channels.