Antony Waste Handling IPO subscription to open on Dec 21

Screenshot taken from company website

Antony Waste Handling Cell has decided to launch its maiden initial public offering worth Rs 300 crores on December 21. The public issue is scheduled to be closed on December 23, as per the information available on the National Stock Exchange. The price band has been fixed at ₹313-315 per share.

The offer for sale comprises up to 13,90,330 equity shares by Leeds (Mauritius), 20,85,510 equity shares by Tonbridge (Mauritius), 11,58,667 equity shares by Cambridge (Mauritius) and 21,90,426 equity shares by Guildford (Mauritius).

The company launched the IPO to raise around Rs 200 crore in March this year but had withdrawn, given a tepid response from investors.

This will be the first and the biggest IPO by an MSW collection and transportation company as there are no listed peers on the Indian stock exchanges as of now. The company said the proceeds from the issue will be utilized for part-financing for its Pimpri Chinchwad WTE project through investment in its subsidiaries, and for the reduction of the consolidated borrowings, reports Business Insider.

Antony Waste is one of the biggest players in the Indian MSW management industry. In an interview with Bloomberg Quint, Mr Jose Jacob Kallarakal shed light on his company’s business model, financials, and growth outlook.

Read Previous

H&M Foundation and Social Alpha commit USD 2 million to support start-ups & innovations in SWM

Read Next

Guidelines issued for COVID vaccine syringe disposal