Antony Waste Handling Cell bags INR90cr investment ahead of IPO
Antony Waste Handling Cell, an Indian municipal solid waste management company, has secured nearly INR90 crore from ten anchor investors, just ahead of its initial public offering (IPO) on Monday.
The anchor investors of Antony Waste Handling Cell include Tata AIG General Insurance, Massachusetts Institute of Technology, SBI Mutual Fund, and 238 Plan Associates.
Massachusetts Institute of Technology has invested nearly INR40 crore for 1,269,564 shares in Antony Waste Handling Cell. Tata AIG General Insurance, on the other hand, has invested INR5crore for 158,815 shares in the municipal solid waste management company.
238 Plan Associates bought 317,485 shares in Antony Waste Handling Cell for an amount of around INR10crore.
The ten anchor investor purchased the shares in the municipal solid waste management company at INR315 per share.
Antony Waste Handling Cell is a part of Indian conglomerate Antony Group.
In its filing to exchanges, Antony Waste Handling Cell stated: “The IPO committee of the board of directors of the company and the selling shareholders, in consultation with merchant bankers Equirus Capital and IIFL Securities, have finalised allocation of 28,57,003 equity shares to anchor investors.”
Through the IPO to be held between 21 and 23 December, Antony Waste Handling Cell is looking to raise INR300 crore with a share pricing of INR313-315.