Antony Waste Handling Cell IPO subscribed 3.85 times on second day

The initial public offering (IPO) of Antony Waste Handling Cell was subscribed by 3.85x on Tuesday, the second day of the issue. The retail investor portion was subscribed 7.2x, the wealthy investor portion was subscribed 0.28x, and the portion reserved for institutional investors was subscribed 0.64x. On Saturday, the company allotted shares worth Rs 90 crore to 10 anchor investors.

Antony Waste Handling Cell has priced its IPO between Rs 313 per share and Rs 315 per share. The IPO comprises a fresh issue of Rs 85 crore and an offer for sale (OFS) of up to 6.8 million shares. 

At the upper end of the price band, the issue size is worth Rs 300 crore.

The company plans to utilise the proceeds towards part-financing of a waste-to-energy project at Pimpri Chinchwad through investment in its subsidiaries AG Enviro and ALESPL, and also to reduce consolidated borrowings of the company and its subsidiaries.