Antony Waste Handling Cell's Rs 300 crore initial public offer (IPO) will open for subscription on December 21. The IPO will be open for three days i.e. December 21-December 23. 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.
Ahead of Monday's initial public offering (IPO), Antony Waste Handling Cell garnered Rs 89.99 crore from 10 anchor investors at an upper end of price band. Massachusetts Institute of Technology was the top anchor investor, accounting for 44.44 per cent of the total anchor allotments.
Investors can bid for a minimum 1 lot of 47 shares and in multiples of 47 shares thereafter, up to 13 lots.
The company 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.
Antony Waste Handling is launching its IPO for the second time this year, after having to withdraw its maiden attempt in April due to tepid investor response amid the Covid-19 outbreak.
Antony Waste Handling Cell is one of the top five players in the Indian municipal solid waste management industry. It has been providing municipal solid waste (MSW) services, includes solid waste collection, transportation, processing and disposal services to municipalities across the country since the past 19 years.
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.