Shares of Augmont Enterprises fell more than 2% to around Rs 940 apiece on the NSE after making a strong debut earlier on Monday, listing at Rs 960, a 22% premium over its issue price of Rs 788. However, the listing fell short of grey market expectations, which had pointed to gains of nearly 40%.
The Rs 825 crore IPO, priced at Rs 788 per share, comprised a fresh issue of 79 lakh shares worth Rs 620 crore and an offer for sale (OFS) of 26 lakh shares aggregating Rs 205 crore. Ahead of the public issue, the company had also raised Rs 246.30 crore from anchor investors.
