Antony Waste Handling Cell files for IPO worth Rs 435-million with Sebi

Antony Waste Handling Cell has filed draft papers with capital markets regulator Sebi to float an initial share-sale.

The initial public offering (IPO) comprises fresh issue of equity shares aggregating up to Rs 435 million and an offer-for-sale of up to 94,42,164 stocks by the existing shareholders, draft papers filed with the Securities and Exchange Board of India (Sebi) showed.

Proceeds of the issue will be utilised towards reduction of the aggregate outstanding borrowings of the company on a consolidated basis, and for general corporate purposes.

"Further, our company expects that the benefits of listing of equity shares will be to enhance our visibility and brand image and provide liquidity to our shareholders," the draft papers noted.

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

Equirus Capital will manage the company's public issue. The company's shares are proposed to be listed on the BSE and the National Stock Exchange.