Antony Waste Handling Cell share made its market debut at 38% premium over its IPO issue price today. The share listed at Rs 436.10 against its issue price of Rs 315 on NSE. The share further rose to Rs 489.90, 55.52% higher than its issue price. Market cap of Antony Waste Handling Cell climbed to Rs 1,186 crore. Total 91 lakh shares changed hands on NSE in early trade.
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.