Antony Waste Handling Cell raises Rs. 60.94 crore from 3 Anchor Investors

·         Massachusetts Institute of Technology allotted 65.6% of the total anchor book

Antony Waste Handling Cell Limited (“The Company”) has finalized the allocation of 20,65,932 Equity Shares at Rs. 295 per Equity Share aggregating to Rs. 60.94 crore to 3 Anchor Investors prior to the Bid Opening Date of 4th March 2020.

The Anchor Investors are:  Massachusetts Institute of Technology (65.6%), Vantage Equity Fund (18%) and 238 Plan Associates LLC (16.4%).

The Company proposes to open on 4th March, 2020, an initial public offering (“IPO”) of equity shares of face value of Rs. 5 each (the “Equity Shares”) for cash at a Price Band from Rs. 295 per Equity Share to Rs. 300 per Equity Share consisting of a fresh issue of Equity Shares aggregating up to Rs. 350 million and an Offer for Sale of up to 5,700,000 Equity Shares comprising up to 1,390,322 Equity Shares by Leeds (Mauritius) Limited; up to 2,085,502 Equity Shares by Tonbridge (Mauritius) Limited; up to 769,917 Equity Shares by Cambridge (Mauritius) Limited; and up to 1,454,259 Equity Shares by Guildford (Mauritius) Limited. 

The Bid/Offer will close on Friday, March 6, 2020. Bids can be made for a minimum lot of 50 Equity Shares and in multiples of 50 Equity Shares thereafter.

The Equity Shares are proposed to be listed on the BSE and NSE.

The Company proposes to utilise the Net Proceeds towards: 1. Reduction of the consolidated borrowings of the Company by infusing debt in its Subsidiary - AG Enviro Infra Projects Private Limited for repayment / prepayment of portion of their outstanding indebtedness to the extent of Rs.300million; and; 2. General corporate purposes.

Further, the Company expects that the benefits of listing of Equity Shares will be to enhance visibility and brand image and provide liquidity to Shareholders.

Equirus Capital Private Limited is the sole Book Running Lead Manager (“BRLM”) to the Issue.