Augmont Enterprises shares jump nearly 22% in market debut

Shares of integrated gold and silver platform Augmont Enterprises Ltd on Monday listed with a premium of nearly 22 per cent against the issue price of Rs 788.

The stock started trading at Rs 956, registering a jump of 21.31 per cent from the issue price on the BSE.

At the NSE, it listed at Rs 961, a premium of 21.95 per cent.

The company's market valuation stood at Rs 8,595.51 crore.

The initial public offering of Augmont Enterprises was subscribed 105.78 times on the final day of bidding on Tuesday.

The company's Rs 825-crore IPO had a price band of Rs 750-788 per equity share.

The IPO had a fresh issue of shares worth Rs 620 crore and an offer-for-sale (OFS) component worth Rs 205 crore.

The company plans to use the IPO proceeds primarily to fund its future working capital needs, including procurement and expansion of inventory, inventory maintenance, advance margin requirements for purchasing inventory and for general corporate purposes.

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.