Antony Waste Handling Cell has decided to launch its maiden initial public offering on December 21.
The public issue is scheduled to be closed on December 23, as per the information available on the National Stock Exchange.
The company and selling shareholders in consultation with merchant bankers will decide its IPO price band in the next couple of days and the same information will be disclosed to the public through newspaper advertisements.
The IPO consists of a fresh issue of Rs 85 crore and an offer for sale of up to 68,24,933 equity shares by selling shareholders.
The offer for sale comprises up to 13,90,330 equity shares by Leeds (Mauritius), 20,85,510 equity shares by Tonbridge (Mauritius), 11,58,667 equity shares by Cambridge (Mauritius) and 21,90,426 equity shares by Guildford (Mauritius).
The company launched the IPO to raise around Rs 200 crore in March this year, but had withdrawn, as even after lowering the price band and extending the closing date, there was tepid response from investors.
Antony Waste is one of the top five players in the Indian MSW management industry with an established track record of more than 19 years, providing a full spectrum of municipal solid waste (MSW) services, which includes solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities.
It is among the key players in landfill construction and management sector with in-house expertise for construction and management of landfills in a scientific manner. It is also present in the emerging waste management areas in India such as MSW-based WTE.
The company is part of the 'Antony' group which has diversified business interests, including in the automotive body-building and ancillary industries, promoted by Jose Jacob Kallarakal and Shiju Jacob Kallarakal.
Antony Waste Handling Cell will utilise fresh issue proceeds for part-financing PCMC WTE project through investment in subsidiaries, AG Enviro and/or ALESPL; reduction of consolidated borrowings of company and subsidiaries; and general corporate purposes.
The company has appointed Equirus Capital and IIFL Securities as book-running lead managers to the issue. Equity shares will get listed on the BSE and National Stock Exchange.