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Antony Waste Handling Cell share falls 11% after strong market debut

Antony Waste Handling Cell stock lost 10.98% to Rs 362.50 against previous close of Rs 407.25 on BSE

twitter-logoBusinessToday.In | January 4, 2021 | Updated 16:12 IST
Antony Waste Handling Cell share falls 11% after strong market debut
Antony Waste Handling Cell share made its market debut at 38% premium over IPO issue price. The share listed at Rs 436.10 against its issue price of Rs 315 on NSE.

Share of Antony Waste Handling Cell fell 11% during its second trading session today. Antony Waste Handling Cell stock lost 10.98% to Rs 362.50 against previous close of Rs 407.25 on BSE. The share marked intra day high of Rs 406.70. Total 3.33 lakh shares of the firm changed hands in trade today.

Market cap of the company fell to Rs 1,063 crore.

Later, the share closed 7.12% or Rs 29 lower at Rs 378.25 on BSE and NSE.

On January 1, Antony Waste Handling Cell share made its market debut at 38% premium over IPO issue price. The share listed at Rs 436.10 against its issue price of Rs 315 on NSE.  It further rose to Rs 489.90, 55.52% higher than its issue price.

On BSE, the share opened at Rs 430, rising 36.50% compared to its IPO issue price. Intra day, the share gained 56.42% to Rs 492.75 on January 1.

Later, the stock closed 29.32% higher during the same session. The share ended at Rs 407.35 against issue price of  Rs 315 per share on NSE. On  BSE, the share closed at Rs 407.25, gaining 29.29% over the IPO issue price.

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Antony Waste Handling Cell launched its initial public offer (IPO) on December 21.  Price band for the IPO was fixed at Rs 313-315 per share. The IPO received a decent response on the last day as the issue was subscribed 14.87 times.

The firm, which is India's second-largest municipal solid waste management (MSW) company, has raised Rs 300 crore through the IPO. The public issue received bids for 9.91 crore equity shares against reduced offer size (due to anchor book) of 66.66 lakh shares, data available on exchanges showed.

The portion reserved for qualified institutional buyers (QIB) was subscribed 9.67 times. The retail portion received bids 16.2 times and that of non-institutional investors 18.68 times that of the portion set aside for them.

The firm raised Rs 90 crore from anchor investors ahead of its initial share sale. The company allotted 2,857,003 equity shares at Rs 315 apiece to 10 anchor investors to raise Rs 89.99 crore. The share sale closed on December 23.

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