Let’s have a detailed review of the company and analytics of the Antony Waste Handling IPO release date, IPO offer price, subscription, Antony Waste Handling Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Antony Waste Handling IPO Review & Ratings
|IPO Ratings & Review|
|Top Brokers Review||7.9/10|
Summary of Antony Waste Handling IPO
Antony Waste Limited is one of the top five players in the Indian MSW management industry with an established track record of 17 years, providing full spectrum of MSW services which includes solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities.
They are among the select few who have pioneered in MSW collection and transportation sector. They are among the key players in landfill construction and management sector with in-house expertise for landfill construction along with its management. The company is also present in the emerging waste management area in India which is MSW based WTE
From FY 2016-17 to FY 2018-2019, as per the Restated Financial Statements,
- For Fiscals 2017, 2018 and 2019 and the six-month period ended September 30, 2019, as per the Restated Financial Statements, their total revenues from operations were Rs.2,757.69 million, Rs.2,761.36 million and Rs.2,836.89 million and Rs.2,186.24 million, respectively.
- Their profit after tax for Fiscals 2017, 2018 and 2019 and the six-month period ended September 30, 2019 were Rs.410.39 million, Rs.398.84 million and Rs.344.23 million and Rs.378.43 million, respectively.
- From Fiscal 2017 to Fiscal 2019, their EBITDA increased from Rs.802.41 million to Rs.910.05 million, representing a CAGR of 6.50%.
- Their return on net worth for Fiscals 2017, 2018 and 2019 was 35.74%, 24.48% and 18.10%, respectively.
The Promoters of this company are Jose Jacob Kallarakal, Shiju Jacob Kallarakal and Shiju Antony Kallarakkal. The lead manager to the issue is Equirus Capital Private Limited and the Registrar to this issue is Link Intime India Private Limited.
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Antony Waste Handling IPO Dates / Launch Date
The opening and the closing date of Antony Waste Handling IPO is Wednesday, March 4, 2020 and Friday, March 16, 2020.
Antony Waste Handling IPO Subscription
CLICK ON THE BELOW LINKS TO CHECK THE REAL TIME BID DETAILS:
|Day / Date||QIB||NII||RII||Total Subscription|
|1st Day – March 4||0.00x||0.13x||0.12x||0.09x|
|2nd Day – March 5||0.00x||0.13x||0.26x||0.16x|
|3rd Day – March 6 – 16||0.91x||0.26x||0.39x||0.51x|
|Shares Offered or Net Issue||1,377,288||1,032,966||2,410,254||4,820,508|
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Antony Waste Handling IPO Allotment Status
Here, you can find the Allotment Status of this IPO. Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.
Antony Waste Handling IPO Listing Date
Find the dates below on basis of allotment, refund, listing and more:
|Basis of Allotment Finalization||Mar 17, 2020|
|Refunds Initiation||Mar 18, 2020|
|Credit of Shares to Demat Account||Mar 19, 2020|
|Share Listing Date||Mar 20, 2020|
Antony Waste Handling IPO Price Band / Cash Price
The face value of each share is Rs.5, but the price band of the IPO is is Rs.294 – Rs 300.
Antony Waste Handling IPO Size
Initial public offer of up to 6,846,440 Equity Shares of Rs.5 each for a price band of Rs. Rs.294 – Rs 300 per equity share aggregating to Rs. 206.00 Crores.
Antony Waste Handling IPO Share Offering
Fresh Issue: The Fresh Issue Equity Shares by their Company of Rs.5 each at a price of Rs. Rs.294 – Rs 300 per equity share aggregating to Rs.350 million,
Offer for Sale : The Issue of 5,700,000 Equity Shares of Rs.5 each at Rs.Rs.294 – Rs 300 per Equity Share.
The share offering ratio:
QIB – 50%
NII – 15%
RII – 35%
Antony Waste Handling Limited – Company Overview
Their foothold in the solid waste management industry can be traced back to the incorporation of their Company in 2001.
Starting with a simple business of collection and transportation of waste, they have come a long way in the field of solid waste management with adoption of latest technologies and innovations thereby transforming this business itself into a complex operation system with the use of technologies in garbage compaction, processing, use of transfer stations, management of sanitary engineered landfills.
Antony Waste Handling Line of Operations
They primarily undertake:
(i) MSW C&T projects which involve door to door collection of MSW from households, slums, commercial establishments and other bulk-waste generators (community bins) from a designated area through primary collection vehicles like compactors, dumper placers and tippers and transportation of these materials, to the processing facility, transfer station or a landfill disposal site.;
(ii) MSW processing projects which involves sorting and segregating the waste received from MSW C&T, followed by composting, recycling, shredding and compressing into RDF, as required; and
(iii) mechanized sweeping projects which involve deploying of power sweeping machines, manpower, comprehensive maintenance, consumables, safe disposal of the waste and any other items required for completion of the cleaning operation of the designated areas, through ourselves and/or their Subsidiaries.
Antony Waste Handling Ongoing Projects
Having undertaken more than 25 projects as of January 1, 2020, of which 17 are ongoing, they have demonstrated their track-record as a comprehensive service provider equipped with the resources to handle large-scale projects for municipalities as well as private players. Their portfolio of 17 ongoing projects as on January 1, 2020, comprised eleven MSW C&T projects, two MSW processing (including WTE) project and four mechanized sweeping projects. All the 17 ongoing projects have started generating revenue.
Business strategies of Antony Waste Handling Limited IPO
- Capitalize on the growth opportunities in the MSW management sector by continued focus on bidding for MSW projects.
- Continue with rational selection of projects and strategically expand their geographical footprint.
- Moving up the MSW value chain by increasing their presence in the emerging waste management areas in India like WTE domain.
- Continue to focus on enhancing operational efficiency.
Antony Waste Handling Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
On the basis of Standalone statement:
|Amount (in INR & millions)|
|Profit After Tax||378.43||344.23||398.84||410.39|
Earnings per Equity Share (in Millions)
Antony Waste Handling Limited IPO – Promoters
The Promoters of this company are:
- Jose Jacob Kallarakal
- Shiju Jacob Kallarakal
- Shiju Antony Kallarakkal.
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Antony Waste Handling IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||Up to [●] Equity Shares aggregating up to Rs. [●] million|
|Fresh Issue||Up to [●] Equity Shares aggregating up to Rs.350 million|
|Offer for sale|
|By Leeds (Mauritius) Limited|
|Up to 1,390,322 Equity Shares aggregating up to Rs [●] million|
|By Tonbridge (Mauritius) Limited||Up to 2,085,502 Equity Shares aggregating up to Rs [●] million|
|By Cambridge (Mauritius) Limited||Up to 769,917 Equity Shares aggregating up to Rs [●] million|
|By Guildford (Mauritius) Limited||Up to 1,454,259 Equity Shares aggregating up to Rs [●] million|
|QIB Portion||[●] Equity Shares|
|Anchor Investment Portion||upto [●] Equity Shares|
|Balance for all QIBs including Mutual Funds||[●] Equity Shares of Face Value of Rs.5/- each|
|Retail Investors Portion||Not less than [●] Equity Shares|
|Non-Institutional Investors Portion||Not less than [●] Equity Shares|
|Equity Shares outstanding prior to the Issue||25,588,758 Equity Shares|
|Equity Shares outstanding after the Issue||[●] Equity Shares|
Antony Waste Handling IPO Issue Object
These are the IPO Issue Objects of the company
- Reduction of the aggregate outstanding borrowings of their Company on a consolidated basis; and
- General Corporate Purposes
Further, their Company expects that the benefits of listing of Equity Shares will be to enhance their visibility and brand image and provide liquidity to their Shareholders.
Competitive Strengths of Antony Waste Handling Limited IPO
- A leading service provider in MSW management sector with end-to-end capabilities.
- Strong track record of project execution.
- De-risked business model with diverse portfolio of projects.
- Strong base of modern and well-maintained fleet of vehicles.
- Experienced Promoters and Management Team with Strong Domain Expertise.
Antony Waste Handling IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- A leading service provider in MSW management sector with end-to-end capabilities.
- Long term contracts with municipalities and Government agencies.
- Strong track record of project execution
- De-risked business model with diverse portfolio of projects
- Strong base of modern and well-maintained fleet of vehicles and equipment
- Experienced Promoters and Management Team with Strong Domain Expertise
The relevant quantitative factors are:
|Basic EPS||Diluted EPS||RONW (%)||NAV (Rs.)|
- Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs.10 each
Antony Waste Handling Limited: Competitive Peers
Their Company does not have any listed industry peers in India.
Antony Waste Handling IPO Lead Managers
|Equirus Capital Private Limited|
12th Floor, C Wing, Marathon Futurex
N.M. Joshi Marg, Lower Parel
Mumbai 400 013
Telephone: +91 (22) 4332 0600
Contact person: Pavan Naik / Gaurav Phadke
Investor Grievance Email: firstname.lastname@example.org
SEBI Registration Number: INM000011286
Antony Waste Handling Limited IPO Registrar to offer
|Registrar to the Offer|
|Link Intime India Private Limited|
C-101, 247 Park, L.B.S. Marg,
Mumbai 400 083
Telephone: +91 (22) 4918 6200
Contact person: Shanti Gopalkrishnan
Investor Grievance Email: email@example.com
SEBI Registration Number: INR000004058
- Statutory Auditor – Walker Chandiok & Co LLP, Chartered Accountants
- Legal Counsel to the Issue- J. Sagar Associates
- Bankers to the Company – Bank of Baroda and Axis Bank.
Antony Waste Handling IPO Review by Top 10 Stock Brokers
|Top Stock Brokers Review||Company Reputation||Competitive Edge||Financial Statement||Popularity Index||Promoters Reputation|
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