Antony Waste Handling IPO Review

Antony Waste Handling Cell IPO – Should you subscribe?

Dates, Price band, Lot size, Risks, Review and broker recommendations etc.

• CHANAKYATANTRA @ www.ipotantra.com   
• DECEMBER 10, 2020
• MAINSTREAM IPOS

HOMEMAINSTREAM IPOSANTONY WASTE HANDLING CELL IPO - SHOULD YOU SUBSCRIBE?

Antony Waste IPO

Company Info

Antony Waste Handling Cell, incorporated in 2001, is one of the top five players in the Indian MSW management industry. It provides a full spectrum of MSW services including solid waste collection, transportation, processing and disposal services, primarily catering to municipalities.

Key Differentiators:

• One of the select few players who have pioneered in both the MSW collection and transportation sector.
• A key player in landfill construction and management sector with in-house expertise for construction and management of landfills in a scientific manner.
• Presence in the emerging waste management areas in India such as MSW based WTE.

Competitive Strengths

• Leading service provider in MSW management sector with end-to-end capabilities
• A de-risked business model with a diverse portfolio of projects
• Access to technology backed vehicles and equipment for operational efficiently
• Experienced Promoters and management team with strong domain expertise
• Strong track record of project execution

Company Strategy

1. Capitalize on the growth opportunities in the MSW management sector by continued focus on bidding for MSW projects
2. Continue with a rational selection of projects and strategically expand the geographical footprint
3. Moving up the MSW value chain by diversifying into the emerging waste management areas
4. Continue to focus on enhancing operational efficiency

Financial Performance:

Proceeds from the IPO will be used to:

• Part-financing for PCMC WTE Project through investment in its subsidiaries, AG Enviro and ALESPL;
• Reduction of consolidated borrowings of the parent and subsidiaries by infusing debt in AG Enviro and
• General corporate purposes

In addition, the company expects that listing of Equity Shares will enhance their visibility and brand image and provide liquidity to their shareholders

Antony Waste IPO Dashboard

Issue Details

Key Dates

* Prior to anchor investor sale

Antony Waste IPO – Risks

• Company is dependent on municipal authorities for a substantial proportion of the business and revenue. Any reduction in municipal spending can adversely impact the business.
• MSW projects are typically awarded on the satisfaction of prescribed pre-qualification criteria and via tenders. The business and financial condition may be adversely affected if new MSW projects are not awarded to them.
• The company is dependent on a limited number of customers for a significant portion of the revenue. Loss of any of the major customer may adversely affect the business.
• A significant portion of the company’s revenue is from operations in limited geographies. Projects in new geographies may not be as profitable as the current ones.
• Certain group companies and subsidiaries have incurred losses in the preceding three Fiscals.

For complete internal and external risk factors, you can refer the DRHP of the company.

Analyst Recommendations – Should you subscribe?

Antony Waste IPO Recommendations Coming Soon…

Antony Waste IPO: Registrar and Lead Managers

Registrar of the Issue

Link Intime India Private Limited
C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai, Maharashtra 400078
Phone: 022 49186270
Email: antony.ipo@linkintime.co.in

Lead Managers of the Issue

• Equirus Capital Private Limited
• IIFL Securities Limited