Hot Deal Antony Waste IPO

400°
Budding Star
102
8963
52

https://www.sebi.gov.in/filings/public-issues/s...
Antony Waste IPO – Issue Details
IPO Date – Dec 21 to Dec 23, 2020
Face Value – Rs 5 per share
IPO Price band – Rs 313 – 315 per share (Tentative)
Issue Size – Total of Rs 300 Crores (approx)
Fresh issue – Rs 85 Crores
OFS – Rs 215 Crores
IPO Lot Size – 45 shares
Lead Managers – Equirus and IIFL Securities
Listing at – BSE and NSE

Expired
37 Comments  |  
21 Dimers
  • Sort By
53
2918
18

Antony Waste Handling Cell, the second largest player in the Indian municipal solid waste management industry, will open its public issue on December 21.

The said issue will close on the third day of bidding i.e. December 23.

Here are 10 key things you should know about the issue and the company:

Public Offer
The IPO comprises a fresh issue of Rs 85 crore worth of shares and an offer for sale of 68,24,933 equity shares by existing shareholders.

Leeds (Mauritius) will sell 13,90,330 equity shares, Tonbridge (Mauritius) 20,85,510 equity shares, Cambridge (Mauritius) 11,58,667 equity shares; and Guildford (Mauritius) 11,58,667 equity shares through offer for sale.

Investor can put minimum bid of 47 equity shares and in multiples of 47 equity shares thereafter.


Price Band

The company has fixed price band of Rs 313-315 per share for its public issue.

Fund Raising

Antony Waste Handling Cell aims to raise Rs 298.62 crore at lower price band and Rs 299.98 crore at the upper price band.

The company garnered Rs 90 crore from anchor investors on December 18. Hence, the offer size has been reduced to Rs 66,66,343 equity shares.

Objectives of the Issue

The company proposed to utilise its fresh issue proceeds towards part-financing for waste-to-energy project at Pimpri Chinchwad through investment in its subsidiaries, AG Enviro and/or ALESPL; reduction of consolidated borrowings; and general corporate purposes.

The offer for sale money will go to selling shareholders.

Company Profile

Antony Waste Handling Cell is one of the top five players in the Indian MSW management industry with an established track record of more than 19 years. It provides full spectrum of municipal solid waste (MSW) services which includes solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities.

It is among the key players in landfill construction and management sector with in-house expertise for construction and management of landfills in a scientific manner. It is also present in the emerging waste management areas in India such as MSW based WTE.

The company has undertaken more than 25 projects, of which 18 are ongoing, as of November 15, 2020, including projects for the Municipal Corporation of Greater Mumbai, the Navi Mumbai Municipal Corporation, the Thane Municipal Corporation, Pimpri Chinchwad Municipal Corporation, the North Delhi Municipal Corporation, the Mangaluru Municipal Corporation, New Okhla Industrial Development Authority, Nagpur Municipal Corporation and the Greater Noida Industrial Development Authority.

The portfolio of 18 ongoing projects comprises 12 MSW C&T (collection and transportation) projects, two MSW processing project and four mechanised sweeping projects.


All these 18 ongoing projects have started generating revenue, the company said in its RHP, adding as of November 15 this year, it had a fleet of 1,147 vehicles of which 969 are equipped with GPS technology.

The company is a part of the ‘Antony’ group which has diversified business interests, including in the automotive body-building and ancillary industries.

Strengths

a) A leading service provider in MSW management sector with end-to-end capabilities;

b) Strong track record of project execution;

c) Diversified business model;

d) Access to technology backed vehicles and equipment enables company to manage operations efficiently;

e) Experienced promoters and management team with strong domain expertise.

Strategies

a) Capitalise on the growth opportunities in the MSW management sector by continued focus on bidding for MSW projects;

b) Continue with rational selection of projects and strategically expand geographical footprint;

c) Moving up the MSW value chain by diversifying into the emerging waste management areas;

d) Continue to focus on enhancing operational efficiency.

Financials

Antony Waste Handling Cell reported a 79 percent year-on-year growth in consolidated profit at Rs 62.07 crore in FY20 on revenue of Rs 450.51 crore that grew by 58.8 percent YoY. Profit in FY19 declined 13 percent to Rs 34.68 and revenue increased by just 2.7 percent to Rs 283.69 crore in same year compared to FY18.

In the first half of FY21, company posted profit at Rs 29.05 crore on revenue of Rs 207.39 crore.

“Considering the P/E valuation on the upper end of the price band of Rs 315, the stock is priced at pre issue P/E of 12.35x on its actual annualised FY20 EPS of Rs 25.52. Post issue, the stock is priced at a P/E of 13.65x on its EPS of Rs 23.08. Looking at the P/B ratio at Rs 315 the stock is priced at P/B ratio of 2.81x on the pre issue book value of Rs 112 and on the post issue book value of Rs 141.64 the P/B comes out to 2.22x,” research house SMC said in its note.

Promoters and Shareholding

Jose Jacob Kallarakal, Shiju Jacob Kallarakal and Shiju Antony Kallarakkal are the promoters of the company.

Jose Jacob Kallarakal held 20.41 percent stake in the company, Shiju Jacob Kallarakal 5.82 percent and Shiju Antony Kallarakkal 0.14 percent shareholding as of December 14, 2020, while promoter group including family members held 24.73 percent stake in the company.

Among public shareholders, Guildford (Mauritius) held the maximum stake of 22.83 percent, Cambridge (Mauritius) 12.08 percent, Tonbridge (Mauritius) 8.15 percent and Leeds (Mauritius) 5.43 percent.

Management

Jose Jacob Kallarakal is the Chairman and Managing Director of the company. He is one of the founders of the company and has 19 years of experience in the field of waste management.

Shiju Jacob Kallarakal is the Executive Director and the Chief Financial Officer of the company. He is also one of the founders of the company and has 19 years of experience in the field of waste management.


Karthikeyan Muthuswamy is the Nominee Director, while Ajit Kumar Jain, Suneet K Maheshwari and Priya Balasubramanian are Independent Directors on the board.

Tarjindar Singh is the Chief Operating Officer of the company. He has been associated with the company since February 13, 2014 and is managing the solid waste operations activities. He has 27 years of experience. Prior to joining Antony Waste, he had worked with Mahindra & Mahindra, Steel Strips Wheels, Reliance Infocomm, Agility Logistics, AMB Property Corporation, GatiKintetsu Express, Robinsons Cargo & Logistics.

10
1451
6

Should we go for Antony Waste IPO – Yes or no

IPO Opening Date Dec 21, 2020
IPO Closing Date Dec 23, 2020
Issue Type Book Built Issue IPO
Face Value ₹5 per equity share
IPO Price ₹313 to ₹315 per equity share
Market Lot 47 Shares
Min Order Quantity 47 Shares
Listing At BSE, NSE
Issue Size 9,523,345 Eq Shares of ₹5
(aggregating up to ₹300.00 Cr)
Fresh Issue 2,698,412 Eq Shares of ₹5
(aggregating up to ₹85.00 Cr)
Offer for Sale 6,824,933 Eq Shares of ₹5
(aggregating up to ₹215.00 Cr)

10
1451
6

I searched but didnot get this
Admin plss merge the post

102
8963
52

IPO subscribed 1.11 times within first few hours of opening

128
4286
63
BAT_MAN wrote:

IPO subscribed 1.11 times within first few hours of opening

This IPO is good, and it is to be expected.

Missing