Antony Waste Handling Cell IPO Details

Antony Waste Handling Cell IPOAntony IPO description – Antony Waste Handling Cell is one of the top five players in the Indian MSW (Municipal Solid Waste) management industry with an established track record of 17 years, providing services such as solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities. The company is among the key players in landfill construction and management sector with in-house expertise for landfill construction along with its management. It is also present in the emerging waste management area in India which is MSW based WTE (Waste to Energy).

The company undertakes MSW C&T projects, MSW processing projects and mechanized sweeping projects and has undertaken more than 25 projects as of 30 November 2018, of which 14 are ongoing. Its portfolio of 14 ongoing projects as on 30 November 2018, comprised eight MSW C&T projects, one MSW processing (including WTE) project and five mechanized sweeping projects. It is currently undertaking projects for the Municipal Corporation of Greater Mumbai (MCGM), the Navi Mumbai Municipal Corporation (NMMC), the Thane Municipal Corporation (TMC), the North Delhi Municipal Corporation (NDMC), the Ulhasnagar Municipal Corporation (UMC), the Mangalore Municipal Corporation (MMC) and the Greater Noida Industrial Development Authority (GNIDA). It is also currently undertaking a project for Jaypee International Sports.

In the past, it has also undertaken projects for Municipal Corporation of Delhi (MCD), Municipal Corporation, Gurgaon (MCG), Amritsar Municipal Corporation (AMC), Kalyan Dombivali Municipal Corporation (KDMC) and Jaipur Municipal Corporation (JMC).

Promoters of Antony Waste Handling Cell – Jose Jacob Kallarakal, Shiju Jacob Kallarakal and Shiju Antony Kallarakkal
Antony IPO details
Subscription Dates 4 – 16 March 2020 (Issue extended, later withdrawn)
Price Band INR294 – 300 per share (revised from INR295 – 300)
Fresh issue INR35 crore
Offer For Sale 5,700,000 shares (INR168.15 – 171 crore)
Total IPO size INR203.15 – 206 crore
Minimum bid (lot size) 50 shares
Face Value  INR5 per share
Retail Allocation 35%
Listing On NSE, BSE

Antony Waste Handling Cell’s financial performance (in INR crore)

  FY2017 FY2018 FY2019 H1 FY2020
Revenue 291.2 290.8 298.5 225.6
Expenses 247.4 242.0 250.8 176.7
Net income 41.0 39.9 34.4 37.8
Net margin (%) 14.1 13.7 11.5 16.8

Antony Waste Handling Cell Contact Details

Antony Waste Handling Cell Limited
1402 and 1404, 14th Floor,
Dev Corpora Building, Opp. Cadbury Company
Eastern Express Highway, Thane – 400 601, Maharashtra

Phone: +91 22 4100 9295
Email: [email protected] Website: www.antony-waste.com

Registrar of Antony Waste Handling Cell IPO

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg,
Vikhroli (West) Mumbai – 400 083

Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website: http://www.linkintime.co.in

Valuation of Antony (as of FY2019)

Earnings Per Share (EPS): INR12.35
Price/Earnings (PE ratio): 23.89 – 24.29
Return on Net Worth (RONW): 18.10%
Net Asset Value (NAV): INR111.55 per share

Antony IPO Subscription Details

Category Shares offered

Subscription (no. of times)

Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Day 7 Day 8
QIB 1,377,288 0.00 0.00 0.88 0.89 0.89 0.89 0.89 0.88
NII 1,032,966 0.12 0.12 0.25 0.26 0.26 0.26 0.26 0.25
Retail 2,410,254 0.12 0.25 0.38 0.38 0.38 0.38 0.37 0.38
                   
Total 4,820,508 0.09 0.15 0.49 0.50 0.50 0.50  0.49  0.49 

Antony IPO Analyst Reviews

Geojit Financial Services – Subscribe
Kejriwal Research – Subscribe
Angel Broking – Neutral
SMC Global – 1.5/5
Choice Broking – Avoid
Samco Securities – Avoid
Prabhudas Lilladher – Avoid

 

Antony IPO Allotment Status

Antony IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.

Listing Performance of Antony Waste Handling Cell

IPO Opening Date: 4 March 2020 (IPO withdrawn due to volatile market conditions)
IPO Closing Date: 16 March 2020 (IPO withdrawn due to volatile market conditions)

7 COMMENTS

  1. Antony Waste Handling Cell is expected to launch its nearly Rs 300 crore initial public offering for subscription on March 4.

    The IPO comprises a fresh issue of up to Rs 43.5 crore and an offer for sale of up to Rs 250 crore.

    The offer for sale comprises a 94,42,164 equity shares by Leeds (Mauritius) (13,90,322 shares), Tonbridge (Mauritius) (20,85,502 shares), Cambridge (Mauritius) (20,65,300 shares) and Guildford (Mauritius) (39,01,040 shares).

    The issue will close on March 6. The company proposed to utilise the net fresh issue proceeds towards the reduction of the aggregate outstanding borrowings.
    The company is one of the top five players in the Indian MSW management industry with an established track record of 17 years, providing a full spectrum of MSW services which includes solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities.

    Equirus Capital Private Limited is the sole book-running lead manager (BRLM) to the offer. The company does not have any listed industry peers in India.

    Having undertaken more than 25 projects as of January 1, 2020, of which 17 are ongoing, the company demonstrated track-record as a comprehensive service provider equipped with the resources to handle large-scale projects for municipalities as well as private players. Its portfolio of 17 ongoing projects comprised 11 MSW C&T projects, 2 MSW processing (including WTE) project and 4 mechanized sweeping projects.

    It is currently undertaking projects for the Municipal Corporation of Greater Mumbai (MCGM), the Navi Mumbai Municipal Corporation (NMMC), the Thane Municipal Corporation (TMC), Pimpri Chinchwad Municipal Corporation (PCMC), the North Delhi Municipal Corporation (NDMC), the Mangalore Municipal Corporation (MMC), New Okhla Industrial Development Authority (NOIDA), Nagpur Municipal Corporation (NMC) and the Greater Noida Industrial Development Authority (GNIDA).

  2. Antony is actually a better bet than SBI Card. It has already surpassed last full year’s earnings in the six months so its PE ratio is just around 12.

    Very attractive to get such a business at such low PE ratio!

    Waste management is going to get even more traction in future.

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