Shares of Antony Waste Handling Cell were trading at Rs 469 at 10:12 IST on the BSE, a premium of 48.89% over the initial public offer price of Rs 315.
The stock was listed at Rs 430, a premium of 36.51% to the initial public offer (IPO) price. So far the stock hit a high of Rs 492.75 and low of Rs 430. On the BSE, 11.58 lakh shares were traded on the counter so far.The initial public offer (IPO) of Antony Waste Handling Cell was subscribed 15.04 times. The issue opened for subscription on 21 December 2020 and closed on 23 December 2020. The price band for the IPO was set at Rs 313-315 per share
The non-institutional investors category was subscribed 18.69 times. The retail individual investors category was subscribed 16.55 times. The qualified institutional buyers (QIBs) category was subscribed 9.67 times.
The issue comprised of a fresh issue worth Rs 85 crore and an offer for sale (OFS) of 68,24,933 equity shares by existing shareholders.
Ahead of the IPO, the company allotted 28,57,003 shares to ten anchor investors at Rs 315 per share, aggregating to Rs 89.99 crore. The anchor investors include Tata AIG General Insurance Company, Massachusetts Institute of Technology, 238 Plan Associates LLC and SBI Mutual Fund.
The company proposes to utilize the net proceeds (from fresh issue of equity) towards part financing for PCMC WTE project through investment in its subsidiaries AG Enviro and/or ALESPL; towards reduction of the consolidated borrowings of the company and subsidiary by infusing debt in its subsidiary AG Enviro Infra Projects for repayment/prepayment of portion of their outstanding indebtedness; and general corporate purposes.
Antony Waste Handling Cell is one of the top five players in the Indian MSW (municipal solid waste) management industry with an established track record of more than 19 years, providing full spectrum of MSW services which includes solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities. It is among the key players in landfill construction and management sector with in-house expertise for landfill construction along with its management. The company is also present in waste-to-energy (WTE) segment which is at the top of the MSW value chain.
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The company is currently undertaking projects for the Municipal Corporation of Greater Mumbai, the Navi Mumbai Municipal Corporation, the Thane Municipal Corporation, the North Delhi Municipal Corporation, the Ulhasnagar Municipal Corporation, the Mangalore Municipal Corporation and the Greater Noida Industrial Development Authority. It is also currently undertaking a project for Jaypee International Sports.
As of 15 November 2020, the company has a fleet strength of 1147 vehicles and 7391 full-time employees on consolidated basis. Currently, the company has 18 ongoing projects and of which about 12 are MSW C&T projects, four mechanized sweeping projects and two MSW processing including WTE projects.
Antony Waste Handling Cell reported net profit of Rs 19.64 crore and sales of Rs 207.39 crore in the six-months ended September 2020.
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