 "Antony Waste aims second shot at listing after failure of IPO in March")
Antony Waste Handling Cell will take a second shot at going public. In March, the company had to withdraw its initial public offer (IPO) due to poor response.
The company will launch its Rs 300-crore IPO again on December 21. The price band for the issue is Rs 313-315 per share.
Antony Waste has raised both issue price and the IPO size. The IPO consists of a fresh issue of Rs 85 core and an Offer for sale (OFS) worth Rs 215 crore.
The company plans to utilise the net proceeds towards part-financing for the waste-to-energy project at Pimpri Chinchwad through investment in its subsidiaries AG Enviro and ALESPL. It also plans to reduce consolidated borrowings of the company and its subsidiaries by infusing debt in its subsidiary.
The company is one of the top five players in the Indian municipal solid waste (MSW) management industry.
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