Antony Waste Handling public issue opens on Wednesday

Our Bureau Mumbai | Updated on February 28, 2020

Antony Waste Handling Cell, a company in the business of solid waste management will come out with an initial public offering on March 4.

The offer will be for equity shares of face value of ₹5 each at a price band which has been set in the range of ₹295-300 a share. However, a retail investor has to bid a minimum of 50 shares and in multiples of 50 shares thereafter. The bid offer will close on March 6.

This consists of a fresh issue of shares totalling ₹35 crore and an offer-for-sale (OFS) of up to 57 lakh equity shares. The proceeds will be used towards the reduction of the aggregate outstanding borrowings.

Leeds (Mauritius) will sell up to 13,90,322 equity shares, Tonbridge (Mauritius) 20,85,502 shares, Cambridge (Mauritius) 7,69,917 shares and Guildford (Mauritius) 14,54,259 shares through OFS, the company said.

Equirus Capital Pvt Ltd is the sole book-running lead manager to the issue.

Antony Waste is one of the top five players in the Indian municipal solid waste management industry with a track record of 17 years, providing services which includes solid waste collection, transportation, processing and disposal services across the country. Its clients are primarily municipalities, which includes the likes of Mumbai Corporation of Greater Mumbai, Thane Municipal Corporation, Nagpur Municipal Corporation, Pimpri-Chinchwad Municipal Corporation, amongst others.

The promoters of Antony Waste Handling Cell include Jose Jacob Kallarakal and Shiju Jacob Kallarakal.

Published on February 28, 2020

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