Antony Waste Handling Cell IPO subscribed 15 times on the last day

The initial public offer of Antony Waste Handling Cell was subscribed 15 times on the last day of subscription on Wednesday.

With its initial public offering getting oversubscribed in a few hours of opening on Monday, the company joined the likes of Burger King India and Mrs Bectors Food Specialities whose offers were also oversubscribed within a few hours of opening.

The Rs 300-crore initial public offering (IPO) received bids for 10,02,71,821 shares against its offer size of 66,66,342 shares, as per NSE data.

The portion for qualified institutional buyers (QIBs) was subscribed 9.67 times, non institutional investors 18.69 times and retail individual investors (RIIs) 16.55 times.

The initial public offer was of a fresh issue of Rs 85 crore and an offer for sale of 68,24,933 shares.

Price range for the offer, which opened for subscription on Monday, was at Rs 313-315 per share.

Equirus Capital Private Limited and IIFL Securities Limited were the managers to the offer.

Antony Waste Handling Cell Ltd raised Rs 90 crore from anchor investors last week.

The proceeds of the fresh issue will be utilised for part-financing waste-to-energy project at Pimpri Chinchwad, Maharashtra, through investment in subsidiaries, reduction of consolidated borrowings of the company and general corporate purpose.

Antony Waste Handling Cell is a leading player in solid waste management services in the country.