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Antony Waste makes strong market debut, shares list at 36% premium

The company has a post-listing market capitalisation of Rs 1,152 crore

Antony Waste Handling Cell | initial public offerings IPOs

Sundar Sethuraman  |  Thiruvananthapuram 

The IPO saw demand of 15x the number of shares on offer

made a strong debut on the bourses on Friday. Shares of the company got listed at Rs 430 — 36 per cent above the issue price. The stock closed the session at Rs 407 — 29 per cent above the issue price. The company has a post-listing market capitalisation of Rs 1,152 crore.

The IPO saw demand of 15x the number of shares on offer. Though demand in all three categories was robust, it did not attract the kind of frenzy that some of the other IPOs in December witnessed. The firm plans to utilise the net proceeds for part-financing of the waste-to-energy project at Pimpri-Chinchwad, through investment in its subsidiaries AG Enviro and ALESPL.

In addition, the company aims to reduce its consolidated borrowings, as well as that of its subsidiaries.

The firm is one of the top five in the Indian municipal solid waste (MSW) management industry, and caters primarily to Indian municipalities. It mainly undertakes projects that involve door-to-door collection of MSW from households, slums, commercial establishments, and other bulk-waste generators. Mechanised sweeping projects involve deploying sweeping power machines, manpower, and safe disposal of the waste.

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First Published: Sat, January 02 2021. 01:41 IST