Antony Waste Handling Cell that withdrew its public issue in March due to tepid response will again open its Rs. 300 crore IPO for public subscription on December 21. The issue will close on December 23. Price band for the issue has been fixed at Rs 313-315 per share.
The IPO includes a fresh issue of Rs 85 crore and an offer for sale (OFS) of upto 68,24,933 equity shares. The OFS consists of 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).
Investors can place bids for a minimum of 47 shares and in multiples of 47 equity shares thereafter. The company has reserved up to 50 percent of the issue for qualified institutional buyers, 35 percent for retail and up to 15 percent for non-institutional investors.
Proceeds from the fresh issuance shall be put towards part-financing the company's waste-to-energy project at Pimpri Chinchwad through investment in its subsidiaries, AG Enviro and/ or ALESPL, reduction of consolidated borrowings of the company and its subsidiaries and general corporate purposes.
Post the promoter stake sale via the issue, their holding in the company will fall down from 51.1 percent to 46.23 percent.
Equirus Capital Private Limited and IIFL Securities Limited are the Book Running Lead Managers to the Issue.
Established in the year 2001, Antony Waste Handling Cell is among the 5 top companies in the municipal solid waste (MSW) management industry and provides a whole range of services including solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities.