Augmont Enterprises IPO Subscribed 2.74x on Day 1

Augmont Enterprises Ltd’s initial public offer (IPO) was subscribed 2.74 times on its first day of bidding Friday, according to NSE data. The integrated gold and silver platform’s Rs 826 crore IPO received bids for over 2.11 crore shares against 77.15 lakh shares on offer.

Key Subscription Details

• Overall subscription: 2.74 times
• Non-institutional investors: 3.97 times
• Retail investors: 2.79 times
• Qualified Institutional Buyers (QIBs): 1.76 times
• Total bids received: 2,11,33,624 shares
• Shares on offer: 77,15,999 shares

Prior to its public offering, Augmont Enterprises successfully raised Rs 246.3 crore from a group of anchor investors. This pre-IPO round included significant participation from entities like Nomura, HDFC Mutual Fund, and Nippon India Mutual Fund.

IPO Structure and Pricing

The IPO has set its price band between Rs 750 and Rs 788 per equity share. The bidding period for the public issue is scheduled to conclude on August 25.

The public issue itself is structured with both new shares and an offer for sale from existing stakeholders. It comprises a fresh issue of shares valued at Rs 620 crore.

Additionally, there is an offer for sale (OFS) of shares worth Rs 205 crore. This OFS is being conducted by promoters Namita Ketan Kothari, Vivek Prithviraj Kothari, and Dimple Mukesh Kothari.

Post-IPO Valuation

Upon the successful completion of the IPO, Augmont Enterprises is projected to achieve a post-issue market capitalization of approximately Rs 7,200 crore. This valuation underscores the company’s anticipated standing in the market.