Augmont Enterprises Limited files DRHP with SEBI for its Rs 800 Crore IPO

 

Augmont Enterprises Limited files DRHP with SEBI for its Rs 800 Crore IPO

Augmont Enterprises Limited, an integrated gold and silver platform in India serving businesses and consumers, with a presence across 24 states, as of August 31, 2025, has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI).

The IPO comprises of a Fresh issue of equity shares of face value ₹ 5 each aggregating up to ₹620 Crores and Offer for sale of equity shares of face value ₹5 each aggregating up to ₹ 180 Crores. The total offer size comprises equity shares of face value of ₹5 each aggregating up to ₹ 800 Crores. The offer for sale by promoter selling shareholders comprises of equity shares aggregating up to ₹ 60 Crores by Namita Ketan Kothari, equity shares aggregating up to ₹60 Crores by Vivek Prithviraj Kothari and equity shares aggregating up to ₹60 Crores by Dimple Mukesh Kothari.

The company proposes to utilise the net proceeds towards funding future working capital requirements towards procurement and maintenance of inventory and funding advance margin requirements for procurement purposes by the Company amounting to Rs 465 Crores as well as towards general corporate purposes.

Augmont Enterprises Limited’s operations span across multiple segments of the gold and silver value chain including procurement and refining, bullion trading, digital gold offerings, jewellery manufacturing, international sales and facilitating gold-backed financial services. The company is one of the few companies in India with a presence across both, online and offline channels for the purchase of gold and silver.

The company operates in two business verticals through distinct online platforms, which are complemented by their physical distribution network: (i) enterprise sales (through the ‘Augmont SPOT’ platform) and international sales; and (ii) consumer-focused offerings, delivered through the ‘Augmont Gold for All’ platform and offline channels.

In the enterprise sales business, the company sells gold and silver bars online on the ‘Augmont SPOT’ platform to businesses such as jewellers, bullion dealers and manufacturers with valid GST registrations. The platform had over 4,975 registered members who were jewellers, bullion dealers and manufacturers, as of August 31, 2025. The fully electronic, delivery-based bullion platform, has been operational since 2012. To ensure nationwide reach, the company operates 20 spot delivery centers across 13 states for the distribution of bullion purchased on the Augmont SPOT platform, of which nine are directly managed and 11 through franchisees.

Over time, the platform expanded to serve retail consumers with their consumer focused offerings through ‘Augmont Gold for All’ in FY21 and began facilitating the trading of lab-grown diamonds in FY26. Through the ‘Augmont Gold For All’ platform, the company offers individual customers and partners a range of gold and silver services including digital buy-sell-store options, SIPs, old gold liquidation, jewellery purchases from 1 gm. The company entered into a service level agreement with Group Company, Finkurve Financial Services Limited to provide technology, marketing and brand support through the platform for gold loans provided by them. For retail consumers, it has 83 Gold-For-All centers in Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu operated by Finkurve. As of August 31, 2025, the company had delivered digital gold products to over 42 million registered consumers directly and via alliances, supported by backend systems ensuring automated order confirmation, packaging, and secure delivery.

The company has partnered with leading jewellers like Kalyan Jewellers and CaratLane, enabling digital gold redemption, and with over 180 partners including Gullak and Candere, along with digital distributor Navi. In addition, it serves customers through 3,700 Muthoot Exim stores. The company also entered into an agreement with an NBFC pursuant to which customers can purchase jewellery and bullion products at the NBFC’s stores.

The company procures refined gold and silver from Indian and international banks, imports doré bars at a lower duty (0.65% less than refined gold), and sources scrap gold and silver from individuals, jewellers, and auctions for refining. To optimize procurement, it established Augmont IFSC Private Limited in Gujarat International Finance Tec-City (GIFT City) to import refined gold and silver through India International Bullion Exchange (IIBX), thereby reducing brokerage and commission costs by transacting directly as a trading member.

The company manufactures products at their unit located in Sitapur SEZ, Jaipur, Rajasthan, which has a capacity of 13.80 MTPA, as of August 31, 2025, and sells them in international markets such as Hong Kong, Turkey and the UAE. Its refining operations are supported by two facilities in Rudrapur with a 144 MTPA capacity and Mumbai with 140 MTPA capacity. The company is among the few refiners in India authorized to deliver bullion on BSE and MCX.