Antony Waste IPO subscribed 15 times on final day

Antony Waste Handling Cell Limited’s initial public offering (IPO) has received a strong response, with demand across all investor categories. The offering of 6.67 million shares, excluding the anchor investors’ portion, received bids for 100.27 million shares. The book was subscribed 15.04 times at the end of the last issue day. The portion of shares reserved for institutional investors was subscribed 9.67 times, while the non-institutional investors’ segment comprising corporate bodies and high net worth individuals was subscribed 18.7 times. Retail investors bid 16.55 times for the shares reserved for them. The price band in the Antony Waste Handling Cell IPO was fixed at Rs 313-Rs 315 per share. Antony Waste plans to use Rs 400 million to part-finance a waste-to-energy plant for the Pimpri Chinchwad Municipal Corporation. The company has also proposed to use Rs 385 million from the fresh net proceeds to reduce its outstanding debt besides using a certain amount for general corporate purposes.