Antony Waste Handling Cell is one of the best players with a proven track record of over 19 years in the Indian MSW management industry. Antony Waste Handling Ltd. (AWML) is one of the best players in the MSW management industry, offering a broad range of MSW services across the country, mainly catering to Indian municipalities, including solid waste collection, transportation, processing, and disposal services. The IPO of Antony Waste Handling Cell, the second-largest player in the Indian municipal solid waste management market, will open on 21 December. This Issue will be concluded on the third day of the offer, i.e. 23rd December. It is suggested that equity shares be listed on the BSE and NSE. The book that leads managers to the problem is Equirus Capital and IIFL Securities.
The IPO involves a new issue of Rs 85 crore worth of shares and an offer by current shareholders to sell 68,24,933 shares of equity.
Leeds (Mauritius) will sell 13,90,330 equity shares, 20,85,510 equity shares in Tonbridge (Mauritius), 11,58,667 equity shares in Cambridge (Mauritius) and 11,58,667 equity shares in Guildford (Mauritius) via the bid for sale.
Usually, MSW projects are awarded following a competitive bidding procedure and fulfillment of the technical and financial pre-qualification requirements prescribed. The MSWM market has approximately 25 participants providing different services. Many businesses with infrastructure and environmental services are present in this sector. The award of contracts also depends on the grants and the budget given to their municipalities by the States.
Although potential growth may come from expanding into more geographies and projects in Waste To Energy, the contract wins have been unstable in the past. While current contracts with an average term of 7-10 years provide some comfort in the future revenues, given the uncertainty of contract wins in the past and increasing competitive strength, we will remain cautious.
It is suggested that the Antony Waste Handling Cell Ltd IPO be listed on the Bombay Stock Exchange (BSE) as well as on the National Stock Exchange (NSE). In theory, the firm has already obtained approvals for the same from both stock exchanges.
IPO Date: 21st DEC 2020 to 23rd DEC 2020
Issue Type: Book Built Issue
Issue Size: 9,523,345 Equity Shares of Rs.5 totaling up to Rs.300 Crore
Fresh Issue: 2,698,412 Equity Shares of Rs.5 totaling up to Rs.85 Crore
Offer for Sale: 6,824,933 Equity Shares of Rs.5 totaling up to Rs.215 Crore
Face ValueRs.5 per equity share
IPO Price: Rs.313 to Rs.315 per equity share
Market Lot: 47 Shares
Min Order Quantity: 47 Shares
Antony Waste Handling Cell's Rs 300 crore initial public offer (IPO) was subscribed approximately 15 times on Day 3, as it hit the stock market for the second time in 2020.
The company had offered its Rs 206 crore issue in the price band of Rs 295-300 at its first attempt in March. However, despite extending the IPO deadline, due to market instability and the uncertainty regarding increasing cases of Covid-19 globally at the beginning of the pandemic, it did not produce enough bids to sail through. But the company has now come out with a Rs 300 crore issue in the price band of Rs 313-Rs 315 per share of equity in its recent issue which got closed on December 23.
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