Antony Waste Handling Cell is set to launch its Rs 300-crore initial public offer (IPO) on Monday, December 21. The firm has fixed the price band of the issue at Rs 313-315 apiece. The public issue will close on December 23, 2020, for the subscription. Antony Waste Handling Cell’s IPO will comprise fresh issue of shares aggregating to Rs 85 crore and an offer-for-sale (OFS) of up to 68.24 lakh equity shares. In the grey market, Antony Waste Handling Cell shares were seen trading at Rs 354 apiece, up 12.4 per cent or Rs 39 over the issue price of Rs 315. The company is among India’s top five municipal solid waste management players.
Bid lot size
Investors can bid for a minimum of 47 equity shares and in multiples of 47 equity shares thereafter, for Rs 14,805. The offer for sale comprises up to 13.90 lakh equity shares by Leeds (Mauritius), 20.85 lakh equity shares by Tonbridge (Mauritius), 11.58 lakh equity shares by Cambridge (Mauritius) and 21.90 lakh equity shares by Guildford (Mauritius). The solid waste management company had launched the Rs 200-crore IPO in March this year, but was withdrawn following a weak response from investors. Equirus Capital Private Ltd and IIFL Securities Ltd are the book running lead managers and Link Intime India Private Ltd is the registrar to the issue.
Investor quota
Up to 50 per cent of the issue will be reserved for Qualified Institutional Buyers (QIB) while 35 per cent will be reserved for retail investors and not less than 15 per cent for the non-Institutional Investors (NIIs). Antony Waste Handling Cell shares will get listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The proceeds of the issue will be utilised towards reduction of aggregate outstanding borrowings of the company on a consolidated basis and general corporate purpose, among others. Antony Waste Handling Cell filed its preliminary papers for IPO in September this year and obtained Sebi’s observation on November 13, 2020.
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