Antony Waste extends IPO closing to March 16, cites exceptional volatility

Antony Waste Handling Cell has extended the closing day for its Rs 200-crore initial public offering (IPO) to March 16. The IPO was to close on Friday, however, managed to garner only 50 per cent subscription due to the fall in the secondary market. “We believe that the exceptional volatility seen in markets has impacted investment decisions for investors across categories. In light of the same, we have decided to extend the bidding period for the issue, till March 16. We believe that the extension will allow current volatility to subside and allow all categories of investors to participate in the issue,” said the company in a statement.

Antony Waste IPO comprises of Rs 35 crore of fresh fund raising and Rs 171 crore of secondary share sale. The price band for the IPO is Rs 295 to Rs 300 per share. At the IPO price, the company is valued at Rs 800 crore. For the year ended 2018-19, Antony Waste had clocked net profit of Rs 34.4 crore on revenues of Rs 298.5 crore. Equirus Capital is the investment bank handling the IPO.