2 days ago
Augmont Enterprises Shares End Over 15% Above IPO Price
Augmont Enterprises is a company that works with gold and silver.
Its shares were sold to the public at Rs 788 each.
When trading began, the shares opened at much higher prices on both the BSE and NSE.
They opened about 21% above the IPO price.
During the day, the shares climbed as high as Rs 1,019.
By the end of trading, they were still more than 15% above the IPO price.
Many investors wanted the shares, so the IPO was subscribed 105.78 times.
The company plans to use the money for inventory, working capital and expansion.
Reports gave different figures for the company’s market valuation after listing.
Augmont Enterprises shares opened at Rs 956 on the BSE and Rs 961 on the NSE, about 21% above the Rs 788 issue price.
The stock ended at Rs 907.75 on the BSE and Rs 908.15 on the NSE, representing gains of 15.19% and 15.24%.
Shares reached an intraday high of Rs 1,019, or 29.31% above the issue price.
The Rs 825-crore IPO was subscribed 105.78 times on the final bidding day.
Reported post-listing market valuation figures differed, with one report citing Rs 8,294.43 crore and another Rs 8,595.51 crore.
- Who
- Augmont Enterprises Ltd, an integrated gold and silver platform.
- What
- The company’s shares made a strong market debut, opening nearly 22% above the IPO issue price and ending more than 15% higher.
- Where
- On the BSE and the NSE.
- When
- The shares listed and traded on Monday; the IPO’s final bidding day was reported as Tuesday.
- Why
- Strong investor demand supported the debut, while IPO proceeds are intended for working capital, inventory needs and expansion.
Key facts
- Issue price
- Rs 788 per equity share
- BSE listing and close
- Opened at Rs 956 and ended at Rs 907.75
- NSE listing and close
- Opened at Rs 961 and ended at Rs 908.15
- Intraday high
- Rs 1,019, up 29.31% from the issue price
- IPO size
- Rs 825 crore, including a Rs 620-crore fresh issue and a Rs 205-crore offer for sale
- IPO subscription
- 105.78 times
- Market valuation
- Reports cited post-listing valuations of Rs 8,294.43 crore and Rs 8,595.51 crore
Sources
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