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Listed
Gems, Jewellery And Watches
Augmont Enterprises Limited IPO
₹825 Cr · Fresh Issue & OFS · Gems, Jewellery And Watches
Price Band
₹750 – ₹788
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹825 Cr
Fresh Issue & OFS
Market Cap
₹7200.23 Cr
At upper band
P/E Ratio
20.7x
P/S: 0.1x
Listing Date
31 Aug 2026
BSE & NSE
IPO Timeline
✓
Opens
21 Aug 2026
✓
Closes
25 Aug 2026
✓
Allotment
26 Aug 2026
✓
Refund
27 Aug 2026
✓
Listing
31 Aug 2026
IPO India Hub: Subscribe
Conviction
8/10
The company trades at 0.9× sector midpoint with exceptional 114% PAT CAGR and 70% ROCE, supported by strong promoter commitment (82% post-issue) and minimal debt (0.05× D/E). The critical risk is razor-thin 0.4% net margin, which leaves no room for operational missteps or commodity price volatility in jewellery procurement.
Listing Performance
Issue Price
₹788
Allotment price
Listing Price
₹956
+21.32% on listing day
Current Price (CMP)
₹1045.4
+32.7% vs issue
Listed On
31 Aug 2026
BSE & NSE
Our Analysis — Key Points
✓ Strength
Exceptional profit growth trajectory
Net profit surged 114% CAGR over two years (₹76 Cr → ₹348 Cr), while revenue grew 64% CAGR to ₹94,186 Cr. This demonstrates strong operational leverage and market traction in the gems and jewellery segment despite a challenging macro environment.
✓ Strength
Fortress balance sheet and valuation
Debt-to-equity of 0.05× is among the lowest for any IPO, and P/E of 20.7× is only 0.9× the niche sector midpoint of 23×. Promoters retain 82% post-issue with just 24.8% OFS, signalling confidence and alignment with minority shareholders.
⚠ Risk
Dangerously thin profit margins
Net profit margin of 0.4% and EBITDA margin of 0.46% are critically low and leave zero buffer for input cost inflation, working capital stress, or demand shocks. A 1–2% adverse movement in procurement costs or selling prices could wipe out profitability entirely.
⚠ Risk
Working capital intensity and inventory risk
₹465 Cr of the ₹636 Cr net proceeds (73%) is earmarked for inventory procurement and advance margins. Jewellery is commodity-linked and inventory-heavy; any slowdown in consumer demand or gold/diamond price correction could lock capital and depress returns.
₹ Valuation
Valuation fairly priced at sector midpoint
At 20.7× P/E against a niche sector range of 18–28× (midpoint 23×), the company is valued at 0.9× midpoint. However, this discount is justified only if margins expand; at current 0.4% NPM, the valuation offers no margin of safety.
👁 Watch
Monitor margin expansion post-listing
Investors must track quarterly net margin trends closely. Any sustained decline below 0.4% or failure to expand margins within 2–3 quarters would signal operational deterioration and justify a sharp re-rating downward.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Augmont Enterprises Limited" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹94186.21 Cr
Net Profit
₹348.30 Cr
Industry
Gems, Jewellery And Watches
Issue Type
Fresh Issue & OFS
Promoters
KETAN BHAWARLAL KOTHARI, MOHINIDEVI BHAWARLAL KOTHARI, KALAWATI PRITHVIRAJ KOTHARI, NAMITA KETAN KOTHARI, DEVKUMARI MANEKCHAND KOTHARI, MANAKCHAND SAREMAL KOTHARI, VIVEK PRITHVIRAJ KOTHARI, DIMPLE MUKESH KOTHARI AND DIMPAL VIVEK KOTHARI
Lead Managers
Nuvama Wealth Management, Intensive Fiscal Services, JM Financial and Motilal Oswal Investment Advisors
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 0.9× sector midpoint with exceptional 114% PAT CAGR and 70% ROCE, supported by strong promoter commitment (82% post-issue) and minimal debt (0.05× D/E). The critical risk is razor-thin 0.4% net margin, which leaves no room for operational missteps or commodity price volatility in jewellery procurement.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
Lot size details will be updated when the DRHP is filed. The price band is ₹750 – ₹788.
The IPO opens on 21 Aug 2026. It closes on 25 Aug 2026. Allotment is expected on 26 Aug 2026. Refunds initiate on 27 Aug 2026. Listing on BSE and NSE is on 31 Aug 2026.
The lead managers for the IPO are Nuvama Wealth Management, Intensive Fiscal Services, JM Financial and Motilal Oswal Investment Advisors. Check the SEBI filing for the registrar details.
The IPO listed on 31 Aug 2026 at ₹956 against an issue price of ₹788 (+21.32% on listing day). The current market price (CMP) is approximately ₹1045.4 (+32.7% vs issue).
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 25 Aug 2026. The company trades at 0.9× sector midpoint with exceptional 114% PAT CAGR and 70% ROCE, supported by strong promoter commitment (82% post-issue) and minimal debt (0.05× D/E). The critical risk is razor-thin 0.4% net margin, which leaves no room for operational missteps or commodity price volatility in jewellery procurement.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 25 Aug 2026. The IPO is priced at a P/E of 20.7x. Market cap at issue price is ₹7200.23 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The issue closes on 25 Aug 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Augmont Enterprises Limited'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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