Shares of integrated gold and silver platform Augmont Enterprises Ltd on Monday listed with a premium of nearly 22% against the issue price of ₹788.
Augmont Enterprises Shares Jump Nearly 22% In Market Debut Trade
The initial public offering of Augmont Enterprises was subscribed 105.78 times on the final day of bidding on Tuesday.
Augmont Enterprises Shares Jump Nearly 22% In Market Debut Trade
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The stock started trading at ₹956, registering a jump of 21.31% from the issue price on the BSE.
At the NSE, it listed at ₹961, a premium of 21.95%.
The company's market valuation stood at ₹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 ₹825-crore IPO had a price band of ₹750-788 per equity share.
The IPO had a fresh issue of shares worth ₹620 crore and an offer-for-sale (OFS) component worth ₹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.
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