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Time of India

Gold trading platform Augmont set to file for Rs 1,000 crore IPO

Augmont, a digital gold trading platform, is planning to file a draft red herring prospectus (DRHP) with market regulator SEBI by the end of this month to raise around Rs 1,000 crore through its initial public offering (IPO), said people familiar with the matter . 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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Experience next-level CPAP comfort with Resmed AirSense 11 ResMed Buy Now Undo 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. Live Events 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.