Augmont Shares Hit 10% Upper Circuit as NSE Empanels Company as Key Partner for Promotion of EGR

Augmont Enterprises shares hit the 10% upper circuit on September 28 after the company was empanelled by the National Stock Exchange of India as a key partner for the promotion of Electronic Gold Receipts, or EGRs. 

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At 10:20 am, the stock was trading 10% higher at ₹965.65 apiece. 

The partnership will focus on simplifying the creation and extinguishment of EGRs while encouraging their trading within India’s regulated gold market. 

Augmont to work with NSE on EGR ecosystem 

Under the arrangement, Augmont will bring its experience across the gold value chain to the EGR framework. The company will also provide technical and on-ground support for developing the product. 

A key part of the partnership involves making it easier to convert physical gold into Electronic Gold Receipts and, when required, convert those receipts back into physical gold. 

The arrangement is also aimed at supporting trading in EGRs and strengthening the infrastructure around the product. 

What are Electronic Gold Receipts? 

Electronic Gold Receipts are dematerialised securities representing ownership of physical gold. 

The underlying gold is stored in vaults accredited by the Securities and Exchange Board of India, while the EGRs are held electronically through depositories. Each receipt is fully backed by physical gold and can be traded on the exchange. 

Through the partnership with Augmont, NSE is looking to develop the EGR market further and improve participation across the gold ecosystem, including jewellers, refiners, traders and institutional investors. 

The framework is also intended to support price discovery and bring more gold transactions within a regulated exchange-based system. 

Augmont brings experience across the gold value chain 

Augmont Enterprises operates an integrated gold and silver platform catering to businesses as well as consumers across 24 states. 

Its operations cover several parts of the precious metals business, including procurement and refining, bullion trading, digital gold, jewellery manufacturing, financial services and related technology platforms. 

The company’s two online platforms — Augmont SPOT and Augmont Gold For All — generated combined revenue of ₹84,762.62 crore in FY26, accounting for 90% of its revenue from operations. 

The corresponding revenue from the two platforms stood at ₹56,523.26 crore in FY25 and ₹32,477.87 crore in FY24. 

The NSE empanelment brings Augmont’s presence across the physical and digital gold markets into the exchange-based EGR framework, with the partnership centred on facilitating conversion between physical gold and its electronic receipt form.