Antony Waste Handling Cell will go public on December 21st. Review the gray market premium, price band, lot size, and bid details

Antony Waste Handling Cell goes publicInvestors can bid for at least 47 shares and then for multiples of 47 shares for Rs 14,805

Antony Waste Handling Cell will launch its Rs300 billion initial public offering (IPO) on Monday December 21st. The company has set the price range of the issue at 313 to 315 rupees apiece. The public issue ends on December 23, 2020 for subscription. The IPO of Antony Waste Handling Cell includes the re-issue of shares for a total volume of 85 billion rupees and an offering (OFS) of up to 68.24 lakh shares. On the gray market, Antony Waste Handling Cell shares were priced at 354 rupees each, an increase of 12.4 percent, or 39 rupees, from the issue price of 315 rupees. The company is among the five largest players in waste management in India.

Bid lot size

Investors can bid for at least 47 shares and then for multiples of 47 shares for Rs 14,805. The offer for sale comprises up to 13.90 lakh shares of Leeds (Mauritius), 20.85 lakh shares of Tonbridge (Mauritius), 11.58 lakh shares of Cambridge (Mauritius) and 21.90 lakh shares of Guildford ( Mauritius). The solid waste disposal company had gone public for Rs 200 billion in March this year, but it was withdrawn after a weak response from investors. Equirus Capital Private Ltd and IIFL Securities Ltd are the senior managers and Link Intime India Private Ltd is the registrar for the issue.

Investor quota

Up to 50 percent of the issue is reserved for qualified institutional buyers (QIB), while 35 percent is reserved for private investors and no less than 15 percent is reserved for non-institutional investors (NII). Antony Waste Handling Cell shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The proceeds from the issue will be used, among other things, to reduce the company’s total outstanding debt on a consolidated basis and for general corporate purposes. Antony Waste Handling Cell submitted its preliminary papers for IPO in September this year and received Sebi’s observation on November 13, 2020.

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