Antony Waste Handling to raise ₹300 crore via IPO
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Antony Waste Handling Cell Ltd., the second largest player in the Indian municipal solid waste management industry, said it will tap the capital market with an initial public offering (IPO) to raise ₹300 crore through the issue of primary shares and offer for sale.
The IPO will open on December 21. The price band has been fixed at ₹313-₹315 per equity share.
The primary issue is of ₹85 crore and the proceeds would be utilised for capital investment in a waste-to- energy project and part retirement of debt.
The offer for sale of up to 6,824,933 equity shares comprise of up to 1,390,330 shares by Leeds (Mauritius) Ltd, up to 2,085,510 shares by Tonbridge (Mauritius) Ltd, up to 1,158,667 shares by Cambridge (Mauritius) Ltd and up to 1,158,667 shares by Guildford (Mauritius) Ltd. Post issue these entities will retain 19.2% stake in the company.