US Markets
Home›US Markets›IPOs›Augmont Enterprises secures Rs 246.3 crore from anchor…
Augmont Enterprises secures Rs 246.3 crore from anchor investors ahead of IPO
The IPO price band is set at ₹750 to ₹788, with the anchor allocation priced at ₹788 per share and the listing scheduled for Monday, August 31.
Augmont Enterprises has raised ₹246.29 crore from 14 anchor investors ahead of its IPO, which opens on Friday, according to LiveMint Markets. The company allotted 31.25 lakh equity shares to anchor investors at ₹788 per share, the top end of its IPO price band.
The IPO is structured with a price band of ₹750 to ₹788 and a face value of ₹5 per equity share. The company aims to raise ₹825 crore in total, comprising a fresh issue of ₹620 crore and an offer for sale (OFS) of ₹205 crore.
Augmont plans to use proceeds from the fresh issue primarily for future working capital needs, including procurement and expansion of inventory, inventory maintenance, and advance margin requirements for purchasing inventory, along with general corporate purposes.
The share allocation plan sets reservation levels for QIBs, NIIs, and retail investors, with the basis of allotment expected to be finalized on Thursday, August 27. Refunds are tentatively set to start on Friday, August 28, and shares are expected to be credited to demat accounts of successful allottees the same day, with listing on BSE and NSE expected for Monday, August 31.