Augmont Enterprises raises Rs 246.29 crore from anchor investors ahead of IPO

Kolkata: Augmont Enterprises Limited has raised Rs 246.29 crore from 14 anchor investors ahead of its proposed initial public offering (IPO), allotting 31,25,633 equity shares at Rs 788 apiece.

The anchor allocation includes a diverse mix of domestic and global institutional investors, mutual funds, insurers and alternative investment managers.

Among the investors participating in the anchor book are Nomura Trust and Banking Co, HDFC Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund, Jupiter India Fund, Jupiter Global Fund, Lion Global Investment Funds, Edelweiss Life Insurance Company, Trust MF Flexi Cap Fund, Authum Investment and Infrastructure, Ashish Kacholia-backed Bengal Finance and Investment, Girik Multicap Growth Equity Fund, 360 ONE Alternates Asset Management/360 ONE WAM and Societe Generale – ODI.

Mutual funds account for 44% of anchor allocation

Domestic mutual funds accounted for a significant portion of the anchor book. Four mutual fund houses, through five schemes, were allotted 13,83,846 equity shares, representing 44.27% of the total shares allocated to anchor investors.
A life insurance company was allotted 1,26,920 equity shares, accounting for another 4.06% of the anchor allocation.

The participation of institutional investors comes ahead of Augmont Enterprises' public issue, as the bullion and precious metals company seeks to tap the capital markets.

The company is scheduled to open its IPO for subscription on Friday, August 21, and the issue will close on Tuesday, August 25. The IPO has a total size of Rs 825 crore, comprising a fresh issue of Rs 620 crore and an offer for sale of Rs 205 crore.

The anchor investment at Rs 788 per share comes ahead of the issue opening and is expected to provide an indication of institutional investor interest in the company’s public offering.