Antony Waste Handling Cell shares end first day with 29% gains at Rs 407.35

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26 Aug, 2025 12:21

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Antony Waste Handling Cell shares ended the first day of trade at Rs 407.35 on the National Stock Exchange, up 29.32 percent over the issue price, on January 1.

The stock touched an intraday high of Rs 489.90 (up 55 percent over IPO price) and a low of Rs 395.55 after opening 38.44 percent higher at Rs 436.10.

Shares settled at Rs 407.25 on the BSE, rising 29.29 percent over the issue price but 5.29 percent lower than the opening price of Rs 430. It touched an intraday high of Rs 492.75 and low of Rs 394.60 on the exchange.

In terms of volumes, it traded with 26.68 lakh shares on the BSE and more than 2.3 crore shares on the NSE.

"We would suggest allotted investors to book profits on the listing day. Antony couldn't attract investors' interest when compared to recent IPOs (Mrs Bectors Food & Burger King) because of lack of confidence in the business growth on the back of high revenue dependency from limited 5 municipal authorities which accounts for 82 percent FY20. So any contracts goes here and there will impact Antony financials adversely," Prashanth Tapse, AVP Research at Mehta Equities had told Moneycontrol.

Antony Waste Handling Cell shares jump 56%: What should investors do?

"As far as valuations are concerned which are a bit stretched and with no wow factor in running the business investors should look to book profits and look for other opportunities in markets," he said.

Antony Waste Handling Cell, which offers municipal solid waste (MSW) management services, raised Rs 300 crore through its public issue that was opened for subscription during December 21-23, including an offer for sale of Rs 215 crore by private equity funds.

The net fresh issue proceeds (out of Rs 85 crore) would be utilised for part-financing PCMC WTE project, repayment of borrowings and general corporate purposes.

The company 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 MSW services that include solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities.