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Antony Waste Handling Cell Limited is coming out with an IPO on December 21, 2020. Here is all you need to know about the issue.

You can apply for Antony Waste Handling Cell Limited IPO on Groww easily via UPI. Go to IPO ( login to your account). There you would be able to see the list of all open IPOs. Select Antony Waste Handling Cell Limited IPO and click on ‘Apply’. You would be able to invest in this IPO from December 21, 2020.

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Antony Waste IPO Day 3: IPO Subscribed 15 Times

The initial public offering of Antony Waste Handling Cell was subscribed 15 times on the final day of bidding.

The IPO received around 9.91 crore bids against an issue size of 66.66 lakh shares.

The portion set aside for qualified institutional buyers (QIB) was subscribed 9.67 times. Retail investors subscribed 16.2 times and non-institutional investors subscribed 18.68 times.

Antony Waste IPO Day 2: IPO Subscribed 3.85 Times

The initial public offering of Antony Waste Handling Cell was subscribed 3.85 times on day 2 of bidding.

The issue received 2.56 crore bids against an issue size of 66.66 lakh shares.

The portion set aside for qualified institutional buyers (QIB) received 64% subscription. Retail investors subscribed 7.2 times and non-institutional investors subscribed 27.9%.

Antony Waste IPO Day 1: IPO Subscribed 1.97 Times

  • The initial public offering of Antony Waste Handling Cell was subscribed 1.97 times on day 1 of bidding.
  • The issue received 1.32 crore bids against issue size of 66.66 lakh shares.
  • The portion set aside for qualified institutional buyers (QIB) received 63% subscription. Retail investors subscribed 3.5 times and non-institutional investors subscribed 8.3%.

Read More: Steps to Invest in IPO on Groww 

Antony Waste Handling Cell Limited IPO Details

IPO Date December 21, 2020, to December 23, 2020
Issue Type Book Built Issue IPO
Issue Size 9,523,345 Equity Shares of Rs.5 totaling up to Rs.300 Crore
Fresh Issue 2,698,412 Equity Shares of Rs.5 totaling up to Rs.85 Crore
Offer for Sale 6,824,933 Equity Shares of Rs.5 totaling up to Rs.215 Crore
Face Value Rs.5 per equity share
IPO Price Rs.313 to Rs.315 per equity share
Market Lot 47 Shares
Min Order Quantity 47 Shares
Listing At BSE, NSE

Antony Waste Handling Cell Limited IPO :Tentative Timetable

Bid/Offer Launch date December 21, 2020
Bid/Offer Last date December 23, 2020
Basis of Allotment finalization date December 29, 2020
Initiation of Refunds December 30, 2020
Credit of Shares to Demat Acct December 31, 2020
IPO Shares Listing Date January 01, 2021

About the Company

Antony Waste Handling Cell Limited is one of the top five players in the Indian Municipal Solid Waste (MSW) management industry. The company provides a range of MSW services including solid waste collection, transportation, processing, and disposal services across India catering to Indian municipalities. It is a pioneer in both MSW collection and transportation (MSW C&T) sectors. Antony Waste is also a key player in the landfill construction and management sector and MSW-based Waste-to-Energy (WTE) 

The company undertakes MSW C&T projects that involve door to door collection of MSW from households, slums, commercial establishments, and other bulk-waste generators (community bins) from a designated area through primary collection vehicles like compactors, dumper placers and tippers and transportation of these materials, to the processing facility, transfer station or a landfill disposal site.

It also undertakes MSW processing projects which involve sorting and segregating the waste received from MSW C&T, followed by composting, recycling, shredding, and compressing into Refuse-derived Fuel (RDF). Further, Antony Waste manages mechanized sweeping projects which involve deploying of power sweeping machines, manpower, comprehensive maintenance, consumables, safe disposal of the waste, and any other items required for completion of the cleaning operation of the designated areas.

The company was incorporated in 2001 with collecting and transporting waste and is today a leading name in the field of solid waste management and has adopted the latest technologies and innovations. With a fleet of over 1147 vehicles, Antony Waste Handling Cell Limited operates from the largest single-location waste processing plants in India at Kanjurmarg, Mumbai.

1. Strengths of Antony Waste Handling Cell Limited 

  • Antony Waste Handling Cell Limited is one of the leading names in MSW management with end-to-end capabilities.
  • It has nearly two decades of experience in executing solid waste projects and has a demonstrated track record as a comprehensive service provider equipped with the resources to handle large-scale projects for municipalities and private players.
  • In the solid waste management industry, the number, size, and duration of simultaneous ongoing projects is the best indicator of the future performance of the company. Antony Waste has 18 ongoing projects of which 12 are MSW C&T projects, two are MSW processing projects, and four are mechanized sweeping projects.
  • The efficiency of the company’s processes is boosted by having access to technology-backed vehicles and equipment.
  • The company has a team of experienced professionals in the management team with strong domain expertise. This helps the company manage its business operations consistently, leverage customer relationships as well as understand and anticipate market trends.

2. Objects of the Offer

Antony Waste Handling Cell Limited proposes to utilize the net proceeds towards financing the following objects:

  1. Part-financing for PCMC WTE Project through investment in its subsidiaries – AG Enviro and/or ALESPL.
  2. Reduction of the consolidated borrowings of the Company and Subsidiaries by infusing debt in its subsidiary –  AG Enviro for repayment/prepayment of a portion of their outstanding debt.
  3. General corporate purposes.

3. Risk Factors

  • Antony Waste Handling Cell Limited is dependent on municipal authorities for a substantial proportion of its business and revenue. Many municipalities have been struggling to fund various solid waste management projects from their own revenue receipts and are highly dependent on state/central grants/budget allocation. Any decline in the budgetary allocation towards MSW projects will have a material adverse impact on its business, financial condition, and results of operations.
  • MSW projects are typically awarded to a company on the satisfaction of prescribed pre-qualification criteria and following a competitive bidding process. The company’s business and financial condition may be adversely affected if new MSW projects are not awarded to it.
  • Antony Waste depends on a limited number of customers for a significant portion of its revenue. The loss of any of its major customers due to any adverse development or significant reduction in business from a major customer may adversely affect its business, financial condition, results of operations, and future prospects.
  • The company operates in limited geographies for a significant portion of its revenue. Projects in new geographies may not be as profitable as the current major contracts that the company has.
  • The solid waste management industry tends to require companies to have high working capital. If Antony Waste fails to meet the working capital requirement, then there can be an adverse effect on its business, financial condition, and results of operations.
  • The company’s operations include activities that could be hazardous to the health of its employees and other risks that could expose it to material liabilities and increased expenses and negatively impact employee morale.
  • If Antony Waste fails to obtain, maintain or renew requisite statutory and regulatory permits and approvals for its business operations, then its business, prospects, results of operations and financial condition could get adversely affected.
  • The company employs a significant number of personnel in its business operations which are a substantial part of its total expense and the number may increase substantially in the future. It may be subject to work stoppages and face labor disruptions with its employees or contract workers in the future that would interfere with its operations and adversely impact its business and financial condition.
  • The actual cost in executing an MSW contract may vary substantially from the assumptions underlying a bid. Hence, the company may be unable to recover all or some of the additional expenses, which may have an adverse effect on its business, financial condition, results of operations, and prospects.
  • To date, the company has not completed the execution of any WTE project. Hence, it cannot assure investors that these projects will be successful or if it would be able to achieve better returns as compared to the existing MSW C&T projects, or any returns at all.
  • The company is exposed to risks related to availability and cost of fuel and electricity for its projects which could adversely affect its business and results of operations. Any anticipated fluctuations in fuel costs may adversely affect the business and profitability.
  • Obsolescence, destruction, theft or breakdown of its equipment, or failure to repair or maintain such equipment, or the enforcement of any security rights over such assets, where such assets are mortgaged as security for its borrowings, may adversely affect its business, financial condition, results of operations, and prospects.

Here is a quick look at some important information about Antony Waste Handling Cell Limited:

4. Overview of Antony Waste Handling Cell Limited’s Financials

30-Sep-20 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 707.57 672.10 512.64 428.07
Total Income 215.10 464.61 298.52 290.78
Total Expenses 185.20 379.44 250.84 241.99
Profit After Tax 29.05 62.10 34.68 39.88

All amounts in INR Crore

5. Promoters of Antony Waste Handling Cell Limited IPO

  1. Mr. Jose Jacob Kallarakal
  2. Mr. Shiju Jacob Kallarakal
  3. Mr. Shiju Antony Kallarakkal

FAQs

Q1. What is Antony Waste IPO?

Antony Waste IPO is a Main Board IPO for the issue of 9,523,345 equity shares having the face value of Rs.5 totaling up to Rs.300 crores. The registrar for the IPO is Link Intime India Private Limited and the shares will be listed on BSE and NSE.

Q2. What are the open and close dates of Antony Waste IPO?

Antony Waste Handling Cell Limited IPO opens on December 21, 2020, and closes on December 23, 2020.

Q3. What are the lot size and minimum order quantity of Antony Waste IPO?

The lot size of Antony Waste IPO is 47 shares and the minimum order quantity is 47 shares.

Q4. When is the allotment of Antony Waste IPO?

The Antony Waste IPO Basis of Allotment will be done on December 29, 2020, and the allotted shares will be credited to the investor’s demat accounts by December 31, 2020.

Q5. What is Antony Waste IPO listing date?

The listing date of Antony Waste IPO is yet to be announced. However, the tentative date is January 01, 2021.

Happy Investing!

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