Mumbai: The National Stock Exchange of India Limited (NSE) has onboarded Augmont Goldtech Private Limited, a subsidiary of Augmont Enterprises Limited, as a key partner on its panel to promote Electronic Gold Receipts (EGRs) and strengthen India’s organised gold ecosystem.
The strategic partnership aims to streamline the creation of EGRs and their conversion back into physical gold, while also encouraging trading in EGRs on the exchange. Augmont will leverage its experience across the gold value chain to support NSE in strengthening the digital framework and provide technical and operational assistance for EGR product development.
EGRs are dematerialised securities representing ownership of physical gold stored securely in SEBI-recognised vaults and held electronically through depositories. Each EGR is fully backed by physical gold and can be traded on the exchange.
NSE Chief Business Development Officer Sriram Krishnan said the partnership would help create a stronger EGR ecosystem by combining NSE’s technology and liquidity framework with Augmont’s expertise and ground-level presence across the gold value chain. He said the initiative would make gold investment more accessible and encourage wider participation in EGRs.
Ketan Kothari, Whole-Time Director, Augmont Enterprises, said the company would combine its experience in gold refining, sourcing and distribution with NSE’s technology and market infrastructure to make conversion between physical and electronic gold easier, faster and more transparent.
EGRs can offer investors electronic ownership, assured quality and flexibility to convert between physical and digital formats, potentially enabling participation in the gold market in smaller quantities while providing liquidity similar to other dematerialised financial assets.
