The share allotment in Antony Waste Handling Cell initial public give (IPO) has been finalised and equity shares will be credited to demat accounts of eligible investors on Friday, December 1, 2020. Antony Waste Handling Cell share listing will take place on January 1, 2021 on BSE and NSE. The Rs 300-crore challenge of the municipal strong waste management business was the final IPO of the calendar year 2020. Those who had placed bids for Antony Waste challenge can now verify their subscription status on the Link Intime India and BSE web-site.
Also study: Antony Waste Handling Cell IPO: Check share allotment status through BSE, Link Intime India web-site
Today, Antony Waste Handling Cell shares had been observed trading at Rs 435, with a premium of Rs 120 or 38 per cent more than the IPO price tag of Rs 315 per share. Manan Doshi, Co-Founder, UnlistedArena.com dealing in Pre-IPO & Unlisted Shares, told TheSpuzz Online that immediately after the higher volatility in the grey marketplace and considerable subscription from HNIs, Antony Waste Handling Cell is anticipated to list in the variety of Rs 415-435, which translates to virtually 30-35 per cent listing gains. “In my personal opinion, such gains in the short term are superior and I would better choose to book profits on listing,” Doshi added.
The IPO of Antony Waste was subscribed 15.04 occasions, with retail investors bidding their portion of the challenge 16.55 occasions. While Qualified Institutional Buyers (QIBs) have subscribed 9.67 occasions and Non-Institutional Investors 18.69 occasions of their respective quotas. The strong waste management business had earlier launched its IPO in March this year but was withdrawn due to a tepid response, as investors had been pulling off their income from equities due to coronavirus.
What to anticipate from Antony Waste Handling Cell on listing day?
The management of Antony Waste is very dependent on the municipal authorities for a substantial proportion of its business enterprise and revenues. Vishal Wagh, Head of Research, Bonanza Portfolio Ltd told TheSpuzz Online that any decline in budgetary allocations towards municipal strong waste management services could have a material adverse influence on the business enterprise. “Also, the company has a receivable risk from municipalities. The issue is offered at P/E of 11.5x on FY20 earnings. Any listing gains above 15-20 per cent should be booked,” Wagh mentioned.
Gaurav Garg, Head of Research, CapitalVia Global Research expects Antony Waste to list at some premium. Investors should really appear at booking income on listing day and wait for a correction and then can accumulate it at any correction. “I find Rs 250-270 range to be suitable for long term investment. However, since the business has a dependency on a few clients (~80% revenue comes from 5 clients), only the aggressive investors who are open to take high risks should invest in the stock. Other investors can avoid this stock,” he mentioned.
Abhijeet Ramachandran, Independent Analyst/ Co-Founder and Trainer, Tips2Trade expects Antony Waste Handling Cell to open positively on listing day as it is a decently valued business with low competitors. “However, investors are advised to book part profits on listing day as the overall market is very overvalued and a strong correction could be due sooner rather than later,” Ramachandran mentioned.