March 2, 2020

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Antony Waste Handling Cell Ltd – IPO

About the Company:

Antony Waste Handling Cell Ltd is one of the top five players in the Indian MSW management industry with an established track record of 17 years, providing full spectrum of MSW services which includes solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian
municipalities.

Company is among the select few who have pioneered in MSW (Municipal solid waste) collection and transportation sector.

As of January 1, 2020, Company had a fleet of 1,089 vehicles and 6,579 full-time employees, on a consolidated basis.

Company Majorly works on:

(i) MSW C&T (Municipal solid waste/ Collection and transportation) projects which involve door to door collection of MSW from households, slums, commercial establishments and other bulk-waste generators (community bins) from a designated area through primary collection vehicles like compactors, dumper placers and tippers
and transportation of these materials, to the processing facility, transfer station or a landfill disposal site.

(ii) MSW processing projects which involves sorting and segregating the waste received from MSW C&T, followed by composting, recycling, shredding and compressing into RDF, as required.

(iii) mechanized sweeping projects which involve deploying of power sweeping machines, manpower, comprehensive maintenance, consumables, safe disposal of the waste and any other items required for completion of the cleaning operation of the designated areas,

Company is currently undertaking projects for the following Muncipalities:

  • Municipal Corporation of Greater Mumbai (“MCGM”)
  • Navi Mumbai Municipal Corporation (“NMMC”)
  • Thane Municipal Corporation (“TMC”)
  • Pimpri Chinchwad Municipal Corporation (“PCMC”)
  • North Delhi Municipal Corporation (“NDMC”)
  • Mangalore Municipal Corporation (“MMC”)
  • New Okhla Industrial Development Authority (“NOIDA”)
  • Nagpur Municipal Corporation (“NMC”)
  • Greater Noida Industrial Development Authority (“GNIDA”).

Company’s Parent Group:

Antony Waste Handling Cell Ltd is part of the ‘Antony’ group which has diversified business interests, including in the automotive body-building and ancillary  industries.

Company is driven by Promoters, each having an experience of more than 19 years in the solid waste management industry and a qualified and dedicated management
team.

Competitors in the Business:

Antony Waste, Ramky Enviro, UPL Environmental Engineers, Essel Group, and IL&FS are among top companies in the Indian MSWM market. Other prominent participants include A2Z Infrastructure, SPML Infra, Jindal, Eco Green, Metro Waste, Terra Firma, and Hanjer Biotech.

MSW Management Market in India.(in Millions

Management Team:

  1. Mr. Jose Jacob Kallarakal (Designation: Chairman and Managing Director)
  2. Mr. Shiju Jacob Kallarakal (Designation: Executive Director and Chief Financial Officer)

Objectives of the Issue:

  • Reduction of the consolidated borrowings of the Company by infusing debt in our Subsidiary – AG Enviro Infra Projects Private Limited for repayment / prepayment of portion of their outstanding indebtedness.
  • General Corporate Purposes.

Positives for the Company:

A leading service provider in MSW (Municipal solid waste) management sector with end-to-end capabilities.

Company is one of the top five players in the Indian MSW management industry with an established track record of 17 years, providing full spectrum of MSW services which include solid waste collection, transportation, sweeping, processing and disposal services across the country, primarily catering to Indian municipalities.

Strong Track record of project execution.

Company has an established track record of 17 years in executing solid waste projects. We primarily undertake specialized MSW C&T projects, MSW Processing projects and mechanized sweeping projects for municipalities and private players. Having undertaken more than 25 projects as of January 1, 2020, of which 17 are ongoing.

Strong base of modern and well-maintained fleet of vehicles.

Company has consistently invested in fleet of vehicles. Company owns modern vehicles, which helps in operating the projects more efficiently. As of January 1, 2020, company had a fleet of 1,089 vehicles.

Plans to strategically expand the geographical footprint.

Company has undertaken / currently undertaking projects in multiple States / Union Territories such as Maharashtra, Uttar Pradesh, Delhi, Karnataka, Rajasthan, Haryana and Punjab. Company will continue to expand into states with high GDP, growing urbanization, high standard of living, favourable geographic and climatic conditions.

Financials of the Company:

(in Crores)FY 17FY 18FY 1930th Sept 19
Revenue291.2290.7298.5225.6
Net Profit41.039.834.437.8

IPO Details:

DetailsInfo
Issue Opens on4th March 2020
Issue Closes on:.6th March 2020
Issue PriceRs.295 – 300
Face ValueRs.5
Minimum Lot50
Minimum InvestmentRs.15,000
Issue Constitutes25.66%
Issue SizeRs.206 cr
Market CapRs.802 cr
Listing atNSE & BSE
Equity Shares Offered (Fresh)11,66,666
Equity Shares Offered (OFS)57,00,000
Total Equity Shares Offered (Fresh + OFS)68,66,666
Equity Shares Prior to the Issue2,55,88,758
Equity Shares after the Issue2,67,55,424
Check IPO Allotment Status:
Link InTime Website (Click on the below Link)https://linkintime.co.in/PublicIssue/

Important Dates:

Finalization of Basis of Allotmenton or Before 12th March 2020
Initiation of Refundson or Before 13th March 2020
Credit of Equity Shares:on or Before 16th March 2020
Listing Date:on or Before 17th March 2020

Important Dates:

Finalization of Basis of Allotmenton or Before 12th March 2020
Initiation of Refundson or Before 13th March 2020
Credit of Equity Shares:on or Before 16th March 2020
Listing Date:on or Before 17th March 2020