InvestorQ : How has been the subscription level of Antony Waste Handling IPO? Does it merit an investment?
diksha shah made post

How has been the subscription level of Antony Waste Handling IPO? Does it merit an investment?

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Dilmini Mercia answered.
9 months ago
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At the of the second day of the IPO, the Rs.300 crore issue of Antony Waste Handling Ltd was oversubscribed 3.83 times. However, this was largely retail subscriptions that have come in. Antony is into the business of waste management and works directly with major municipalities in India. It is among the top five players in India in this business.

In terms of specific subscription numbers at the end of the second day, the IPO saw 7.19 times subscription in retail category, 0.64 times subscription in QIB category and just about 0.28 times subscription in the HNI segment. Normally, most of the major QIB bids and HNI funded bids come only on the last day of the IPO.

The IPO has been priced in the band of Rs.313-315 range, but looking at the pre-IPO anchor placement it looks like the issue should see substantial institutional interest. Hence the pricing is likely to be closer to the upper band. It may be noted that the subscription to the IPO of Antony Waste Handling Ltd will close for subscription on Wednesday, 23-Dec.

The overall IPO consists of Rs.85 crore fresh shares issue and an offer for sale or OFS worth Rs.215 crore. Some of the leading early investors in the company will be exiting partially through the OFS. The company has enjoyed a profitable business model. Equirus Capital and IIFL Securities are the book running lead managers or BRLM to the IPO.

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