Augmont Enterprises Files Rs 800 Crore IPO with SEBI
Augmont Enterprises, a leading integrated gold and silver platform, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an IPO to raise Rs 800 crore. The IPO comprises Rs 620 crore in fresh equity shares and a Rs 180 crore offer for sale by promoters. The company operates across 24 states in India, offering services in procurement, refining, bullion trading, digital gold, and jewellery manufacturing. Proceeds will be used for working capital, inventory procurement, and general corporate purposes. The IPO is managed by Nuvama Wealth Management, Intensive Fiscal Services, JM Financial, and Motilal Oswal Investment Advisors.
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Augmont Enterprises, a leading integrated gold and silver platform, has taken a significant step towards going public by filing its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company is looking to raise Rs 800.00 crore through an Initial Public Offering (IPO).
IPO Structure
The proposed IPO comprises two components:
- Fresh equity shares worth Rs 620.00 crore
- An offer for sale (OFS) of Rs 180.00 crore
As part of the OFS, three promoter shareholders will each sell shares worth Rs 60.00 crore:
- Namita Ketan Kothari
- Vivek Prithviraj Kothari
- Dimple Mukesh Kothari
Company Overview
Augmont Enterprises operates across 24 states in India, offering a comprehensive range of services in the precious metals industry. Their business activities include:
- Procurement
- Refining
- Bullion trading
- Digital gold offerings
- Jewellery manufacturing
The company has established partnerships with major jewellers, including Kalyan Jewellers and CaratLane. Augmont serves over 180 partners and has a significant presence through 3,700 Muthoot Exim stores.
Use of Proceeds
The company plans to utilize the IPO proceeds as follows:
- Rs 465.00 crore for working capital requirements and inventory procurement
- The remaining funds for general corporate purposes
IPO Management
The public offering is being managed by a consortium of financial institutions:
- Nuvama Wealth Management
- Intensive Fiscal Services
- JM Financial
- Motilal Oswal Investment Advisors
This IPO marks a significant milestone for Augmont Enterprises and reflects the growing interest in India's precious metals sector. Investors and market watchers will be closely monitoring the progress of this offering as it moves through the regulatory process.
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