Home IPO ipo: Antony Waste Handling Cell’s Rs 206 crore IPO to open on March 4

ipo: Antony Waste Handling Cell’s Rs 206 crore IPO to open on March 4

by TradingETFs.com
Initial public offer of solid waste management company Antony Waste Handling Cell will open for subscription on March 4. The issue will close on March 6.

The company plans to raise up to Rs 206 crore from the primary market. It has set the price band of the issue at Rs 295-Rs 300 per equity share.

The offer will include fresh issue of up to Rs 35 crore worth of equity shares and an offer for sale of up to 5,700,000 shares.

The offer for sale includes 1,390,322 shares by Leeds (Mauritius) Limited, up to 2,085,502 shares by Tonbridge (Mauritius), up to 769,917 shares by Cambridge (Mauritius), and up to 1,454,259 equity by Guildford (Mauritius).

Antony Waste Handling proposes to utilise the net proceeds towards reduction of the consolidated borrowings of the company and general corporate purposes. Further, the company expects that the listing will enhance visibility and brand image and provide liquidity to shareholders.

Equirus Capital Private Limited is the sole Book Running Lead Manager (BRLM) to the issue.

The company counts Municipal Corporation of Greater Mumbai, North Delhi Municipal Corporation, New Okhla Industrial Development Authority, Nagpur Municipal Corporation and the Greater Noida Industrial Development Authority as its clients. The company said it is also currently undertaking a project for Jaypee International Sports.

The profit after tax for fiscal 2017, 2018 and 2019 and the six-month period ended September 30, 2019, were Rs 41.04 crore, Rs 39.88 crore and Rs 34.42 crore and Rs 37.84 crore, respectively.

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