Antony Waste Handling Cell's Rs 300 crore initial public offer (IPO) opens for bidding today i.e. December 21. The IPO will remain open until December 23. The issue price has been fixed at Rs 313-315 per share. The shares are likely to be listed on January 1, 2021.
The IPO involves fresh issue of shares amounting to Rs 85 crore and an offer for sale of 68,24,933 equity shares by the 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 proposed offer for sale.
Going into the IPO, Antony Waste Handling Cell raised Rs 89.99 crore from 10 anchor investors. Massachusetts Institute of Technology alone accounted for 44.44 per cent of total anchor allotments.
Investors can bid for a minimum 1 lot of 47 shares and in multiples, up to 13 lots.
Antony Waste Handling Cell intends to use proceeds from the public offer to partly finance its waste-to-energy project at Pimpri Chinchwad and for general corporate purposes.
This is the second attempt by the company to launch its IPO this year, after being compelled to withdraw its attempt in April due to tepid investor response amid the Covid-19 pandemic.
Antony Waste Handling Cell is among the top five players in Indian municipal solid waste management industry. Since the past 19 years, the company has been providing municipal solid waste (MSW) services, includes solid waste collection, transportation, processing and disposal services, to municipalities across the country.
Last week, Mrs Bectors Food Specialities IPO was subscribed by as much as 198 times, making it the highest IPO subscription figures in calendar year 2020.
Equirus Capital and IIFL Securities are the book running lead managers to Antony Waste Handling Cell's primary market offering, while Link Intime India is the registrar to the issue.