Antony Waste Handling Cell’s initial public offering (IPO) closed on Wednesday and saw 15x more demand than the shares on offer. Demand in all three categories was robust. However, it did not attract the kind of frenzy witnessed in the previous two issues this month.
The institutional investor portion was subscribed 9.7x, the wealthy investor portion was subscribed 18.7x, and the portion allotted for retail investors was subscribed 16.5x.
On Saturday the company allotted shares worth Rs 90 crore to 10 anchor investors.The strong demand came despite some analysts raising concerns about the company citing its high receivables, dependence on municipalities, the low entry barrier for the business and declining return on equity (RoE).
Antony Waste had priced its IPO between Rs 313 and Rs 315 per share. The IPO consisted of a fresh issue of Rs 85 crore and an offer for sale of up to 6.8 million shares.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU