Augmont Enterprises IPO entered its second day on August 24 with demand rising across investor categories. By 10:30 a.m. IST, investors had subscribed to the Rs 825 crore issue 4.11 times. Bids covered 3.17 crore shares against 77.16 lakh shares available.
Meanwhile, market observers placed the grey market premium at Rs 380 per share, up from about 38% on Friday. That equals 48.22% over the upper offer price. The figure suggests an estimated listing price of Rs 1,168, although grey market trading remains unofficial.
Non-institutional investors led the book with 7.60 times subscription by the reported time. Retail investors subscribed 3.99 times their allocated portion. Demand crossed the total offer before the second session, after the issue recorded 2.74 times subscription on Day 1.
The IPO opened on August 21 and closes on August 25. Augmont expects allotment to finish on August 27. The company plans to list its shares on the BSE and NSE on August 31. Nuvama Wealth Management manages the issue, while MUFG Intime India serves as registrar.
Augmont fixed the price band at Rs 750 to Rs 788 per share. Each retail lot contains 19 shares. Therefore, one application costs Rs 14,250 at the lower price and Rs 14,972 at the upper price. Final allotment will depend on overall demand.
The offer includes a Rs 620 crore fresh issue and a Rs 205 crore promoter offer for sale. Augmont plans to direct Rs 465 crore from fresh proceeds toward working capital. That amount will support inventory purchases, inventory maintenance and advance margins. The balance will fund general corporate purposes
Anand Rathi Research assigned a “Subscribe for Long Term” rating. It valued the company at 20.6 times annualised FY26 earnings and 18.3 times EV/EBITDA. The brokerage called the offer fully priced, while citing Augmont’s brand, distribution reach, refining network and digital operations.
Ventura Securities and BP Equities also issued “Subscribe” ratings. Their assessments cite the company’s integrated precious metals model and earnings growth. Yet the stated risks include bullion price swings, thin trading margins, heavy working capital needs, inventory controls and market competition.
Augmont operates across bullion procurement, refining, trading, digital gold, jewellery manufacturing and gold-backed services. Its platforms include Augmont SPOT for enterprise clients and Gold For All for consumers. The company serves customers through digital systems and physical distribution channels across 24 states.
By March 31, 2026, Augmont had 5,223 registered enterprise members. Its digital gold network had served more than 49.62 million registered consumers through direct channels and alliances.
The company runs gold and silver refineries in Rudrapur and Mumbai. It also operates a jewellery manufacturing facility in Jaipur’s Sitapura Special Economic Zone. These assets support bullion delivery, jewellery output and consumer transactions across its network. Augmont had 297 employees across sales, technology, factories, customer support and other functions at that date.
The company raised Rs 246.29 crore from 14 anchor investors before the offer. It allotted 31.26 lakh shares at Rs 788 each. Participants included Nomura, Societe Generale, HDFC Mutual Fund, Nippon India Mutual Fund and Tata Mutual Fund.
Investors considering an application must therefore compare the brokerage ratings with the stated valuation and business risks. The Rs 380 GMP reflects current unofficial market demand, not an assured listing return. Subscription closes on Tuesday, August 25.