Antony Waste Handling Cell Ltd., the second largest participant within the Indian municipal strong waste administration trade, stated it should faucet the capital market with an preliminary public providing (IPO) to raise ₹300 crore by means of the difficulty of major shares and supply on the market.
The IPO will open on December 21. The value band has been mounted at ₹313-₹315 per fairness share.
The major concern is of ₹85 crore and the proceeds could be utilised for capital funding in a waste-to- power mission and half retirement of debt.
The supply on the market of up to 6,824,933 fairness 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 concern these entities will retain 19.2% stake within the firm.
Post concern, the promoters’ holding would scale back from 51.1% to 46.2%. The concern would shut on December 23.
Bids might be made for a minimal lot of 47 shares and in multiples of 47 shares thereafter.