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Antony Waste Handling Cell IPO to open today: Here’s what you need to know
This is the company’s second IPO offer this year after it withdrew its maiden attempt in April because of reduced investor response amid the Covid-19 outbreak.
Antony Waste Handling Cell, one of the top five players in the Indian municipal solid waste management industry, will open its ₹300 crore initial public offer (IPO) for subscription on Monday, December 21. The company has been providing services like solid waste collection, transportation, processing and disposal services to municipalities across the country since the past 19 years.
Here’s everything you need to know about Antony Waste Handling Cell’s IPO:
1. The IPO will be open on December 21 and will end on December 23.
2. The company has fixed price band for its public issue at ₹313-315 per share and the shares are likely to be listed on the bourses on January 1, 2021.
3. The IPO consists of a fresh issue of ₹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.
4. Investors can bid for a minimum 1 lot of 47 shares and in multiples of 47 shares thereafter, up to 13 lots.
5. The proceeds from the IPO will be used to partly finance the company’s waste-to-energy project at Pimpri Chinchwad through investment in its subsidiaries, AG Enviro and/or ALESPL and for general corporate purposes, according to the company’s official statement.
6. 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.
7. This is the company’s second IPO offer this year after it withdrew its maiden attempt in April because of reduced investor response amid the Covid-19 outbreak.
(With agency inputs)
