Minerva Capital Research Solutions

Augmont Enterprises

ListedListed 31 Aug 2026MainboardNSE: AUGMONTCheck allotment
Current price₹ 1,048.5+33.06% since issue
Listing day+21.95%
Issue price
₹ 788
Issue size
₹ 825 Cr.
Min. investment
₹ 14,972
Listing price
₹ 961
Subscribed
105.78x
Lot size
19 shares
P/E
20.67
RoNW
49.52%
RoCE
40.27%
Debt / Equity
0.01
PAT margin
0.37%
EBITDA margin
0.41%
RoE
51.04%
EPS
₹ 38.12
NAV
₹ 111.00
Promoter stake
81.91%

About

Augmont Enterprises Limited was started in October 2012. It is an integrated gold and silver company that works with both businesses and ordinary consumers. It is present across almost the whole gold and silver chain, from buying and refining the metal to bullion trading, digital gold, jewellery making, export sales and technology support for gold backed loans. The company runs two platforms. Augmont SPOT is for businesses, where jewellers, bullion dealers and manufacturers buy and sell bullion electronically and take physical delivery. Augmont Gold For All is for consumers, who can buy, sell and store gold and silver in digital form, invest through monthly plans and buy coins. As on 31 March 2026 the company was present in 24 states, had more than 5,223 registered business members, and had served over 4.96 crore registered digital gold customers directly and through partners. It has gold and silver refining units at Rudrapur and Mumbai and a jewellery manufacturing unit at Sitapur SEZ in Jaipur. As on 31 March 2026 it had 297 employees.

Timeline

  1. Opens
    21 Aug
    done
  2. Closes
    25 Aug
    done
  3. Allotment
    27 Aug
    done
  4. Refunds
    27 Aug
    done
  5. Demat credit
    28 Aug
    done
  6. Listing
    31 Aug
    done

Grey market premium (GMP)

GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Highest
₹ 395 on 22 Aug 2026
Lowest
₹ 190 on 18 Aug 2026
First quoted
₹ 190 on 18 Aug 2026

Subscription

How many times each investor group bid for its share, as of 29 Aug 2026, 06:30 PM IST.

How much to apply for

The smallest and largest bids for each kind of investor at the upper price band.

Lots and amounts by investor type
Retail (Min)119₹ 14,972
Retail (Max)13247₹ 1,94,636
S-HNI (Min)14266₹ 2,09,608
B-HNI (Min)671,273₹ 10,03,124

Company overview

Financials

Financials by year
Assets1,256.981,857.31760.29
Total Income94,282.4766,252.0534,948.9
Profit After Tax348.3227.1975.97
EBITDA385.95304.09103.92
NET Worth926.87422.94204.87
Reserves and Surplus865.14398.46180.39
Total Borrowing12.6721.5454.86

Strengths

  • Profit has grown strongly for three years, from Rs 75.97 crore in FY2024 to Rs 227.19 crore in FY2025 and Rs 348.30 crore in FY2026.
  • Return ratios are among the highest in this batch of issues. RoCE was 70.10% and RoNW was 69.47%.
  • The company is almost debt free. Total borrowing was only Rs 12.67 crore against a net worth of Rs 926.87 crore as on 31 March 2026, and borrowing has come down every year from Rs 54.86 crore in FY2024.
  • The issue is priced moderately on earnings. At the upper band of Rs 788 the P/E is about 20.67 times on an EPS of Rs 38.12.
  • The business covers the full chain, from refining to bullion trading to digital gold to jewellery making, so it earns at more than one stage.
  • The reach is large, with presence in 24 states, over 5,223 registered business members and more than 4.96 crore registered digital gold customers as on 31 March 2026.
  • It owns real infrastructure, with refining units at Rudrapur and Mumbai and a jewellery manufacturing unit at Sitapur SEZ, Jaipur.
  • Net worth more than doubled in one year, from Rs 422.94 crore to Rs 926.87 crore.

Risks

  • The profit margin is extremely thin. PAT margin was only 0.34%, because most of the reported income is bullion turnover where the gold itself is the bulk of the value. A very small adverse movement can wipe out the profit.
  • The total income figure of Rs 94,282.47 crore is bullion trading turnover and should not be read like the revenue of a normal manufacturing company. It makes the business look far bigger than the actual value it adds.
  • Total assets fell from Rs 1,857.31 crore in FY2025 to Rs 1,256.98 crore in FY2026, a drop of about 32% in one year.
  • The entire fresh money, Rs 465 crore, goes into working capital, inventory and advance margin for buying stock. None of it adds new capacity.
  • The business carries direct gold price risk. Holding large bullion inventory means a sharp fall in gold price can cause losses on stock.
  • Digital gold sits outside the regulatory framework that covers exchange traded products, and any change in how it is regulated or taxed would affect a key growth area.
  • Competition is heavy and comes from banks, large jewellery chains, fintech apps and other bullion houses, many with deeper pockets.
  • Promoter holding is spread across nine family members and comes down from 92.75% to 81.91% after the issue.

What the money is for

Objects of the issue
Funding future working capital requirements towards procurement, maintenance and scaling up of inventory and funding advance margin requirements for procurement of inventory by the Company465
General corporate purposes—

Promoters

  • Ketan Bhawarlal Kothari
  • Mohinidevi Bhawarlal Kothari
  • Kalawati Prithviraj Kothari
  • Namita Ketan Kothari
  • Devkumari Manekchand Kothari
  • Manakchand Saremal Kothari
  • Vivek Prithviraj Kothari
  • Dimple Mukesh Kothari
  • Dimpal Vivek Kothari
Promoter holding92.75%→81.91%before → after the issue · down 10.84 points

Anchor investors

15 anchors put in ₹ 246.3 Cr., including 5 mutual funds.

Anchor investors
NOMURA TRUST & BANKING CO.LTD.,THE AS THE TRUSTEE OF NOMURA INDIA STOCK MOTHER FUND6,34,5055020.3%
HDFC VALUE FUND2,79,186228.93%
HDFC CONSUMPTION FUND1,26,901104.06%
NIPPON INDIA SMALL CAP FUND4,06,0873212.99%
TATA SMALL CAP FUND4,44,1443514.21%
JUPITER INDIA FUND2,52,75719.928.09%
JUPITER GLOBAL FUND,THE-JUPITER INDIA SELECT1,27,94610.084.09%
LIONGLOBAL INVESTMENT FUNDS-LIONGLOBAL INDIA FUND63,47052.03%
EDELWEISS LIFE INSURANCE CO.LTD.1,26,920104.06%
TRUST MF FLEXI CAP FUND1,27,52810.054.08%
AUTHUM INVESTMENT & INFRASTRUCTURE LTD.72,9915.752.34%
BENGAL FINANCE & INVESTMENT PVT.LTD.72,9635.752.33%
GIRIK MULTICAP GROWTH EQUITY FUND-III72,9635.752.33%
TURNAROUND OPPORTUNITIES FUND2,53,802208.12%
SOCIETE GENERALE-ODI63,47052.03%

Registrar, lead managers and documents

Listing on
BSE, NSE
Face value
₹ 5 a share
Registrar
MUFG Intime India Private Limited
Lead managers
JM Financial Ltd., Nuvama Wealth Management Ltd., Motilal Oswal Investment Advisors
Basis of allotment
Open

IPO dates, prices, grey market premium (GMP), subscription and the company overview: IPO Guru, updated three times a day. GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Our recommendations are research opinions, not investment advice. Read the offer document (RHP) and consult your financial adviser before investing.