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

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.