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Antony Waste Handling Cell IPO to open Dec 21; price band at Rs 313-315/share

The IPO comprises fresh issuance of shares worth Rs 85 crore and an offer for sale of 68,24,993 equity shares by existing shareholders.

By: PTI | New Delhi |
December 17, 2020 5:46:33 pm
Antony Waste Handling Cell IPOThe price band has been fixed at Rs 313-315 per share for its initial public offer (IPO), the company said in a statement. (Image source: Pixabay)

Antony Waste Handling Cell Ltd on Thursday said it will float its Rs 300-crore initial share sale on December 21.

The price band has been fixed at Rs 313-315 per share for its initial public offer (IPO), the company said in a statement.

The IPO comprises fresh issuance of shares worth Rs 85 crore and an offer for sale of 68,24,993 equity shares by existing shareholders.

Tonbridge (Mauritius) Ltd, Leeds (Mauritius) Ltd, Cambridge (Mauritius) Ltd, and Guildford (Mauritius) Ltd will be offering shares through the offer for sale.

Antony Waste Handling Cell is a leading player in solid waste management services in the country.

The three-day issue will close on December 23. At the upper end of the price band, the IPO is estimated to fetch Rs 300 crore.

Proceeds of the issue will be utilised for part financing a waste-to-energy project at Pimpri Chinchwad through investment in subsidiaries, reduction of consolidated borrowings of the company and general corporate purposes.

Equirus Capital and IIFL Securities are the book running lead managers to the issue.

The equity shares are proposed to be listed on BSE and NSE.

Earlier, the company had withdrawn its IPO in March following tepid investor response and extremely weak markets.

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