Augmont shares hit 10% upper circuit as NSE empanels company as key partner for promotion of EGR

Reports coming in for today mention that Augmont Enterprises shares hit 10% upper circuit on September 28 after the firm has been empanelled by National Stock Exchange of India Limited as a key partner for the promotion of Electronic Gold Receipts (EGR).

"This strategic partnership is designed to simplify the process of EGR creation and extinguishment, and to promote trading in EGRs, further deepening India’s gold ecosystem. Under this partnership, Augmont will bring its rich experience across the gold value chain to enhance the digital framework, together with providing the necessary technical and on-the-ground backing for the development of the EGR product. The partnership is anticipated to facilitate the seamless conversion of physical gold into EGRs, and of EGRs back into physical gold, within the regulated ecosystem," stated Augmont in a stock exchange filing.

EGRs are dematerialised securities that represent ownership of physical gold, which is securely stored in SEBI accredited vaults and held electronically through depositories. Each EGR is fully backed by physical gold and is tradable on the exchange, seamlessly integrating gold into the formal financial system. With this partnership, NSE aims to further strengthen a robust and transparent ecosystem for gold trading, enabling efficient price discovery, improved market participation, and enhanced trust across stakeholders including jewellers, refiners, traders, and institutional market participants, stated Augmont.

Sriram Krishnan, Chief Business Development Officer, NSE, stated: “The empanelment of Augmont marks an important step in building a deep and vibrant ecosystem for Electronic Gold Receipts. By combining NSE’s robust technology and liquidity framework with Augmont’s rich experience and on-the-ground presence across the gold value chain, we are simplifying the creation and extinguishment of EGRs and making gold investment more accessible to market participants across the nation. We believe this partnership will foster greater participation in EGRs and further position gold as a modern,

integrated asset class within our capital markets.”

Ketan Kothari, Whole-Time Director, Augmont Enterprises, stated: “We are pleased to partner with NSE in building the Electronic Gold Receipts ecosystem. By bringing together our experience in refining, sourcing and distribution of gold with NSE’s technology and market infrastructure, we aim to make the conversion between physical and electronic gold simpler, faster and more transparent for the trade and market participants alike. We are committed to supporting the expansion of EGRs as a trusted channel for gold participation in India.”

At 10:20 am on September 28, Augmont shares were trading 10% elevated at Rs 965.65 apiece.

Augmont Enterprises operates an integrated gold and silver platform serving businesses and consumers across 24 states. Its operations span gold and silver value-chain activities, including procurement and refining, bullion trading, digital gold offerings, jewellery manufacturing, financial services, and related technology platforms.

The firm's two online platforms, Augmont SPOT and Augmont Gold For All, generated combined topline of Rs 84,762.62 crore in FY26, accounting for 90% of topline from operations, compared with Rs 56,523.26 crore in FY25 and Rs 32,477.87 crore in FY24.