Antony Waste Handling Cell shares trade at over 30% premium in grey market ahead of listing
Antony Waste Handling Cell will debut on bourses on January 1
December 31, 2020 / 11:59 AM IST
Antony Waste Handling Cell shares traded at more than 30 percent premium in the grey market ahead of its listing scheduled on January 1.
The trading premium in the grey market on December 30 was Rs 100-120 per share over its issue price of Rs 315, the grey market data available with the IPO Watch, IPO Guru and IPO Central showed.
With that said, volatility has been high in the grey market premium of Antony Waste Handling Cell. Shares in the grey market quoted at around Rs 50 just before the announcement of the IPO price band. At the time of issue opening, the premium jumped up to Rs 170, but with the closing of the issue for subscription, premium fell up to Rs 30-35. The premium has now rebounded to around Rs 100-120 this week.
The grey market data indicates the expected listing price of the stock and it is available from different sources. It is an unofficial data and the grey market works from the announcement of price band for IPO, till the stock gets listed on the bourses.
Antony Waste Handling Cell IPO allotment finalised: Here is how to check
Antony Waste Handling Cell, one of the top five players in the Indian municipal solid waste (MSW) management industry, will debut on bourses on January 1 after its IPO received 15 times subscription during December 21-23.
The Rs 300-crore IPO comprised of a fresh issue of Rs 85 crore and an offer for sale of Rs 215 crore by existing shareholders Leeds (Mauritius), Tonbridge (Mauritius), Cambridge (Mauritius) and Guildford (Mauritius).
The company will utilise net proceeds from its fresh issue for part-financing its PCMC WTE project through investment in subsidiaries, debt repayment and general corporate purposes.