Antony Waste Handling Ltd. will launch its initial public offering for the second time in nine months after it withdrew its maiden attempt following tepid response from investors amid the Covid-19 outbreak and national lockdowns.
The waste manager that collects garbage from some of India’s biggest municipal corporations will launch its three-day offering on Dec. 21 as it aims to tap the markets to raise funds and its investors seek to sell stake.
The listing also comes at a time when participation of retail investors in the equity markets in India and around the world has increased following the pandemic-induced lockdowns. Notably, this is company’s second attempt to go public.
The IPO, in the first attempt, was priced in the range of Rs 294-300 per equity share and was subscribed 0.50 times.
In its second attempt the company plans to raise Rs 300 crore by selling up to 1.96 crore shares at Rs 313-315 apiece, according to its red herring prospectus. The IPO comprises a fresh issue and an offer-for-sale by existing shareholders—Tonbridge (Mauritius), Leeds (Mauritius), Cambridge (Mauritius), and Guildford (Mauritius).