Antony Waste Handling Cell IPO: Opens today; Key Details you should know before subscribing

Antony Waste Handling Cell's Rs 300 crore Initial Public Offer (IPO) will open for subscription today, December 21, 2020. The IPO will remain open for subscription till Wednesday, December 23, 2020.

The company has fixed price band for its public issue at Rs 313-315 per share. The shares are likely to be listed on the bourses on January 1, 2021.

The IPO consists of a fresh issue of Rs 85 crore worth of shares and an offer for sale of 68,24,933 equity shares by existing shareholders. Leeds (Mauritius) will sell 13,90,330 equity shares, Tonbridge (Mauritius) will offload 20,85,510 shares, Cambridge (Mauritius) 11,58,667 equity shares; and Guildford (Mauritius) will sell 11,58,667 equity shares through the offer for sale.

Investors can bid for a minimum 1 lot of 47 shares and in multiples of 47 shares thereafter, up to 13 lots.

Equirus Capital and IIFL Securities are the book running lead managers to the primary market offering, while Link Intime India is the registrar to the issue.

Antony Waste Handling Cell has raised Rs 89.99 crore from 10 anchor investors at an upper end of the price band at Rs 315 ahead of today's initial public offering (IPO). Massachusetts Institute of Technology was the top anchor investor, accounting for 44.44 per cent of the total anchor allotments. SBI Mutual Fund also lapped up shares of the company in six schemes and accounted for 33.34 per cent of total anchor allotments of the company.

Plans to utilize the proceeds of the Issue

The company has plans to utilize the IPO proceeds to partly finance its waste-to-energy project at Pimpri Chinchwad through investment in its subsidiaries, AG Enviro and/or ALESPL and for general corporate purposes.

Second Attempt to go Public in 2020

Antony Waste Handling Cell will hit the market for the second time this year. The company in its first attempt to go public offered its Rs 206 crore issue at a price band of Rs 295-300 but was not able to generate enough bids to sail through even after extending the deadline due to volatility in the market and the uncertainty over rising COVID-19 cases.

Antony Waste Handling Cell

Antony Waste Handling Cell is one of the top five players in the Indian municipal solid waste management industry with an established track record of 17 years. It has been providing municipal solid waste (MSW) services, includes solid waste collection, transportation, processing and disposal services to municipalities across the country. It is among the select few who have pioneered in MSW collection and transportation sector. It is among the key players in landfill construction and management sector with in-house expertise for landfill construction along with its management. It is also present in the emerging waste management area in India which is MSW based Waste to Energy (WTE).