Equirus Capital and IIFL Securities are the book running lead managers to the issue
Antony Waste Handling Cell Ltd has received capital markets regulator Sebi's go ahead to float an initial public offer.
The initial public offer (IPO) comprises fresh issuance of shares worth Rs 98.5 crore and an offer for sale of 99,27,175 equity shares by existing shareholders, according to the draft red herring prospectus.
Tonbridge (Mauritius) Ltd, Leeds (Mauritius) Ltd, Cambridge (Mauritius) Ltd, and Guildford (Mauritius) Ltd will be offering shares through the offer for sale.
Antony Waste Handling Cell, which filed its preliminary papers for IPO in September, obtained Sebi's observation on November 13, an update with the regulator showed on Tuesday.
Sebi's observation is very necessary for any company to launch public issues like initial public offer, follow-on public offer and rights issue.
Antony Waste Handling Cell is a leading player in solid waste management services in the country.
Proceeds of the issue will be utilised towards reduction of aggregate outstanding borrowings of the company on a consolidated basis and general corporate purpose, among others.
Equirus Capital and IIFL Securities are the book running lead managers to the issue.
Earlier, the company had withdrawn its IPO in March following tepid investor response and extremely weak markets.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.