The proposed offering will be a mix of fresh share issue and offer for sale by existing shareholders, said a source familiar with the matter.
In response to an email query, Augmont’s CEO Ketan Kothari said, “Every growing company explores several funding options.”
JM Financial, Nuvama and Motilal Oswal are the book-running lead managers for the issue, the people said. These firmsdid not respond to email queries.
Augmont’s businesses range from refining and bullion trading to digital gold, gold loans, and investible jewellery. It also runs technology platforms for bullion trading and serves retail, corporate, and banking clients online and offline.
Augmont’s competitor in refining and minted products is MMTC-PAMP, a joint venture between MMTC and Swiss firm PAMP SA. SafeGold and MMTC-PAMP are key rivals in digital gold.