It looks like the IPO market is packing more good news to offer to interested investors before Christmas. Two more IPOs are coming their way, with the Antony Waste IPO opening on December 21.
Despite COVID-19 pandemic and the ongoing crisis in the economic front, the Indian IPO market has given an exciting performance in FY20-21, where more than sixteen companies have made a debut to the stock market. Antony Waste Handling Cell IPO will be an interesting one, as it’s going to make a debut for the second time.
In its first attempt in March, the IPO offer couldn’t generate enough demand from investors, despite extending the IPO deadline. It happened due to rising uncertainties over COVID-19 cases. The promoters had to pull off the offer from the market. Now the company has come up with Rs 300 crores IPO in the price band of Rs 313-315.
Details Of The IPO Offer
- Antony Waste IPO subscription widow will remain open from December 21 to 23, 2020
- The shares will launch in the price band of Rs 313-315 with a face value of Rs 5
- The total offer size Rs 300 crores will contain both fresh scrips, aggregating to Rs 85 crores, and offer for sale of 68.24 lakh equity shares from the promoters of the company, which includes company investors from Mauritius
- Investors need bid for a minimum lot size of 47 and in multiples of it thereafter
- The offer reserves 50 percent quota for qualified institutional investors (QIBs) and 35 percent for the retail investors. remaining 15 percent is available to non-institutional buyers
- The shares will list in both BSE and NSE tentatively on January 1, 2021
- Finalization of allotment will happen by December 29, and investors will receive the share on their Demat by December 31, 2020
- Equirus Capital Private Limited and IIFL Holdings Limited will manage the offer of Antony Waste IPO, whereas Link Intime India Pvt. Ltd. is appointed the registrar
- Project financing, investing in subsidiaries, paying-off borrowing, and meeting general corporate purposes are the main motives as described by the company in its RHP
- The company launched its IPO in March but withdrew following a weak response. The initial size of the offer was Rs 200 crores
About The Company: Antony Waste Handling Cell
Antony Waste Handling Cell is the second-largest player in the segment of Indian municipal solid waste management (MSW) with a full spectrum of waste management services. The company was incorporated in 2001, has undertaken 25 projects, 18 of which are ongoing. The company is a critical partner in landfill management and construction sector with the in-house capacity and end-to-end MSW project management abilities. It is involved in solid waste collection, transportation, processing and disposal across India and operates one of the largest single location waste management plant in Asia with a daily capacity of treating 6,500 ton of MSW per day.
The company is engaged in several projects with Greater Mumbai Municipality, Navi Mumbai Municipality, Thane Municipality, New Okhla Industrial Development Authority, and Greater Noida Industrial Development Authority.
The Bottom Line
Since the company’s failed attempt in March, the BSE SENSEX has rallied 49 percent. Currently, the market is buoyant from the prospect of COVID-19 vaccine launch, and investors are enthusiastically hunting for good investment opportunities. After seeing the recent market performance, it isn’t wrong for Antony Waste promoters to feel hopeful about their offering.