The company has proposed to utilise the net fresh issue proceeds for the reduction of the consolidated borrowings and general corporate purposes.
Antony Waste Handling Cell on February 28 announced that its initial public offering will open for subscription on March 4.
The company in consultation with merchant bankers has fixed a price band of Rs 295-300 per share for the issue which will remain open till March 6.
The IPO consists of a fresh issue of up to Rs 35 crore and an offer for sale of up to 57 lakh equity shares.
Leeds (Mauritius) will sell up to 13,90,322 equity shares, Tonbridge (Mauritius) 20,85,502 shares, Cambridge (Mauritius) 7,69,917 shares and Guildford (Mauritius) 14,54,259 shares through offer for sale.
The company has proposed to utilise the net fresh issue proceeds for the reduction of the consolidated borrowings and general corporate purposes.
Antony Waste is one of the top five players in the Indian MSW (municipal solid waste) management industry with an established track record of 17 years, providing a full spectrum of MSW services which includes solid waste collection, transportation, processing, and disposal services across the country, primarily catering to Indian municipalities.
The company primarily undertakes MSW collection & transportation (C&T) projects, MSW processing projects, and mechanized sweeping projects.
Bids can be made for a minimum lot of 50 equity shares and in multiples of 50 shares thereafter. Equity shares are proposed to be listed on the BSE and NSE.
Equirus Capital Private Limited is the sole book-running lead manager to the issue.
