InvestorQ : Can you please share with me the details of the Antony Waste Handling IPO scheduled to open for subscription on 21 December?
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Can you please share with me the details of the Antony Waste Handling IPO scheduled to open for subscription on 21 December?

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Riya Dwivedi answered.
9 months ago
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Here are some of the key highlights of the Antony Waste Handling IPO.

· The issue was originally slated to hit the IPO market in March 2020. However, due to bad market conditions and the COVID, the issue was postponed.

· The issue will open on 21 December and the issue will close for subscription after 3 days on 23 December. It is likely to be the last major issue in this calendar year.

· Antony Waste allotted 28.57 lakh shares at Rs.315 to anchor investors to raise a sum of Rs.90 crore from anchor investors like MIT, Tata AIG, SBI MF and SBI Infra Fund.

· The IPO will consist of fresh issuance of shares worth Rs.85 crore and an offer-for-sale of 68.25 lakh shares aggregating to Rs.300 crore as the overall IPO size.

· The company is one of India’s leading players in solid waste management services and works closely with various state governments and municipalities.

· The proceeds of the fresh issue will be used for part financing waste-to-energy project at Pimpri-Chinchwad, and a reduction in borrowings. OFS will not result in any infusion.

· Antony Waste provides a complete spectrum of municipal solid waste or MSW services and has executed 25 large-scale projects over the course of last 20 years.

· Antony MSW services include collection & Transfer of waste, mechanized sweeping, waste processing and waste-to-energy facilities.

· Waste management is a business with high entry barriers as municipal tenders need players to showcase their background performance and that can be a big edge.

· Antony Waste reported annualized revenue growth of 27.73% between FY18 and FY20 while the EBITDA grew at 28.65%, annualized during this period.

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