Antony Waste Handling Cell has received markets regulator Securities and Exchange Board of India’s (SEBI) approval to float an initial public offer (IPO). The 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.
The company, which filed the draft red herring prospectus with the SEBI in September, got the regulator’s approval on November 13. The proceeds of the issue will be utilized 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.
Antony Waste Handling Cell is a leading player in solid waste management services in the country.
