Antony Waste Handling Cell Limited: Offer to Open on March 4, 2020

MUMBAI:
Antony Waste Handling Cell Limited (the “Company”) proposes to open on Wednesday, March 4, 2020, an initial public offering (“IPO”) of equity shares of face value of Rs. 5 each (the “Equity Shares”) for cash at a Price Band from Rs. 295 per Equity Share to Rs. 300 per Equity Share consisting of a fresh issue of Equity Shares aggregating up to Rs. 350 million and an Offer for Sale of up to 5,700,000 Equity Shares comprising up to 1,390,322 Equity Shares by Leeds (Mauritius) Limited; up to 2,085,502 Equity Shares by Tonbridge (Mauritius) Limited; up to 769,917 Equity Shares by Cambridge (Mauritius) Limited; and up to 1,454,259 Equity Shares by Guildford (Mauritius) Limited.

The Bid/Offer will close on Friday, March 6, 2020. Bids can be made for a minimum lot of 50 Equity Shares and in multiples of 50 Equity Shares thereafter. The Equity Shares are proposed to be listed on the BSE and NSE.

The Company proposes to utilise the Net Proceeds towards: 1. Reduction of the consolidated borrowings of the Company by infusing debt in its Subsidiary – AG Enviro Infra Projects Private Limited for repayment / prepayment of portion of their outstanding indebtedness to the extent of Rs.300million; and; 2. General corporate purposes.

Further, the Company expects that the benefits of listing of Equity Shares will be to enhance visibility and brand image and provide liquidity to Shareholders. Equirus Capital Private Limited is the sole Book Running Lead Manager (“BRLM”) to the Issue .

Not more than 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIB Portion”).The Company and the Selling Shareholders, in consultation with the BRLM, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (“Anchor Investor Portion’’).

Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. All potential Bidders, other than Anchor Investors, shall only participate in the Issue through the Application Supported by Blocked Amount (“ASBA”) process providing details of their respective bank account which will be blocked by the SCSBs.