Antony Waste Handling Ltd. will launch its IPO for the second time in nine months after withdrawing its first attempt after a lukewarm reaction from investors amid the Covid-19 outbreak and national bans.
The waste manager, who collects trash from some of India’s largest municipal companies, will launch its three-day bid on Dec. 21 to tap the markets for fundraising, and its investors will try to sell shares.
The listing also comes at a time when retail investor participation in stock markets in India and around the world has increased following the lockdowns caused by pandemics. This is the company’s second attempt at going public in particular.
The initial public offering was rated in the range of 294 to 300 rupees per share and subscribed 0.50 times.
In its second attempt, the company plans to raise Rs 300 crore by selling up to 1.96 crore shares at Rs 313-315 apiece, according to its Red Herring prospectus. The IPO includes a new issue and an offer to sell from existing shareholders Tonbridge (Mauritius), Leeds (Mauritius), Cambridge (Mauritius) and Guildford (Mauritius).