The move comes at a time when several IPOs in September saw robust subscriptions and bumper listing gains.
The issue was subscribed only 50 percent on March 6, but since then it got stuck at those levels till March 16
Antony Waste believes that the extension will allow current volatility to subside and allow all categories of investors to participate in the Issue.
The reserved portion of non-institutional investors was subscribed 12.98 percent and that of retail individual investors 25.93 percent.
The Rs 203-crore public issue has received bids for 4.29 lakh equity shares against an IPO size of 48.20 lakh equity shares after excluding anchor investors' portion.
On valuation front, Choice Broking also said at a higher price band, Antony Waste was demanding an P/E multiple of 29.6x, which is at a premium to the peer average of 25.3x.
The allocation of shares will take place at lower end of price band of Rs 295-300 per share.
The company primarily undertakes MSW collection and transportation projects, MSW processing, and mechanised sweeping.
The company has proposed to utilise the net fresh issue proceeds for the reduction of the consolidated borrowings and general corporate purposes.
The issue will close on March 6. Company proposed to utilise the net fresh issue proceeds towards reduction of the aggregate outstanding borrowings.