Antony Waste Handling Cell Limited IPO Message Board (Page 34)

Latest 90/94

IPO price band of this IPO was 294-300 with min lot of 50 shares when it was open in the extended time period from 4 March to 16 March 2020 and this IPO got cancelled due to very poor overall response of only 0.50X from the investors.

Details are still available in "more main line IPO" link below "Upcoming IPO 2020 (Mainboard)" above.

Then why the price band of ₹. 313 - 315/- this time❓

Company financials has improved in FY 20 with increased EPS. So this change in price was inevitable. On PE front company is valued cheaper than withdrawn March IPO.

Last time they opened in a bad market (Yes Bank moratorium, Covid volatility). Even SBI Cards had a poor listing, what could you expect from a 200Cr IPO :)

How the merchant bankers have decided 23rd as last date as it'll affect the subs fig coz the refund date of Bectors food is 23rd!?! They should have opened the ipo from 23rd to 25th imo. What do the seniors have to say in this regard?

25th December is holiday like everyday due to XMAS. Then you take risk of long weekend

All FIIs and most domestic institutional investors are on leave between Christmas and New Year.

It's always preferable to close the IPO pre-Christmas.

Antony's business in low margin, Capex intensive.
For any revenue increase, they need to buy machinery with significant costs. So, new business directly proportional to new capex incurred.
In effect these adding to capex in books, and debt pile(although well serviced upto now).
Industry not much organised, and with regional players. So more scale and region footprint could help the company.
Key risks:
1. Any existing tender cancellation.
2. Cost competition with regional players.
3. Delayed payin payments from customers could create cash flow crunch.

This is my analysis on understanding company working and industry i studied for this IPO only.

FintechKnight ji,

1. Their EBITDA margins are ~28-30%, PAT margins are ~13-14%. For a capex intensive business, in what way are these margins low? Are you comparing to branded FMCG?
2. For most contracts their capex is on vehicles, which are only bought on contract win. Contracts are long-term, so utilization is good.
3. Their larger projects are 20-25 years duration. So while the capex is front loaded, the returns amplify over time (like the ramp-up at Kanjurmarg operations has delivered fantastic FY20 numbers)
4. Their strategies actually state that they are looking to expand geographically and scale up.
5. They have had no tender cancellations till date, in fact most of their contracts have been extended over and above original date.
6. They work on tenders which have large technical and financial requirements; regional players can't compete and MNC players haven't won.
7. Agree to your point about delayed pay-in from municipalities, which is why the company has explicitly stated that it only intends to work with financially sound municipalities

Retail quota kitna he?
10% or 35%

35%

.
At Present premium Rs 85

Antony Waste Handling Cell IPO –

EPS for FY19-20 = Rs.27.48 (Page #81 of RHP)
Issue Price = 315 (at upper band)

Therefore,
*PE Multiple = 11.46 X*

Looks like there is good money on the table for Investors

PE at 11.5, a good company at a good price.
No peers listed in market as per RHP. A niche business.

Thanks you mam for giving insights. I want to add that their H1-2020-21 EPS is 7.68 for 6 months. If we annualize that EPS, then the projected EPS is 15.36 for FY 2020-21.

Also we have seen a sudden jump in EPS for FY 2019-20 to 27.48 whereas for FY 2018-19 EPS was just 12.46. We should consider these parameters too.

As per projected EPS of Rs 15.36 for FY 2020-21, PE ratio arrives at 20.50. Still PE ratio of 20.50 is very good for a company in this high market.

97/100...Late Night...

Eagle eye mem
Should we apply or not ?
What's GMP. ???

Grey Premium 74₹ Only Buyer

It will give good listing gain...your opinion please arjun..

sir iam holding tcs 100 shares i am elegible for buybach
holding from from 2010
i will be elegible in retail or not
what will be the accepentence ratio

No, you will be considered in General category

Every shareholder receives letter of offer contains entitlement details, check your registered email.

All Eligible Shareholders holding not more than 74 Equity Shares as on the Record Date are classified as ‘Small Shareholders’ for the purpose of the Buyback.

Category of Eligible Shareholder Ratio of Buyback (i.e. Buyback Entitlement)
Reserved category (Small Shareholders) - 2 Equity Shares for every 5 Equity Share held on the Record Date
General category (all other Eligible Shareholders) - 2 Equity Shares for every 165 Equity Share held on the Record Date

Entitled shares means shares that confirmly accepted in buyback, however you can tender max no. of shares holding on record date, acceptance of additional tendered shares depends on participation by shareholders (total no of shares tendered by shareholders) in buyback

RCBOOK

You will be considered under HNI category.

TCS Buyback – Entitlement can be checked on below link.

https://t.co/r0K0o48MEq

Thanks.

PREMIUM 73-77

How much is reserved for Retail .... Any idea ??

Normal 35%
Anthony waste handling

Last GMP Heard : 75/80

sir iam holding tcs 100 shares i am elegible for buybach

You are NOT ELIGIBLE FOR RETAIL.
Please Check the Buy Back Offer Letter recieved to you and see your entitlement.

TNX

It is good IPO. I had applied in march 2020 issue also

Wah kya good issue hai down 10 pc below issue price now

Did i give guarantee that it will never go down. Compare first 10 days after IPO listing?
You tell one share which has never gone below your recommendation price with date and name of IPO

Antony Waste has withdrawn their IPO in March'20. At that time issue size (nos of shares) and issue price both were on lower side. Now they want to collect more money as most of the money [>80%] is OFS i.e. going to promoters only. Though, seeing the current market environment, the issue would certainly be oversubscribed but will be good for Listing Gain only.
What is SEBI doing?

Bhopal ji,

1. Money is going to PE investor, and not promoter. It is a standard thing in investor-backed IPOs as other learned forum members have also pointed out.

2. Look at the numbers they have delivered in FY20 and H1FY21. I would in fact say issue is even more attractive this time.

Only private equity investors holding since 2007 are exiting. Indian promoters are not selling
See difference in performance of H1FY19-20 and H1FY 20- 21

Numbers speaks themselves

At last, they are coming in IPO market on 21 December to 23 December. Total IPO size 300 Crore, of which 85 Crores new issuance of shares and 214 Crore OFS of promoter stake.
Listing date 1 January.

Small issue, retail quota 35% and allotment by luck as always

Only private equity is offering for OFS

@arunArun yes, the same situation in Mrs Bector and Antony waste. VI/Pvt equity firm are offloading their total stake. Its a normal phenomenon in all start up companies/ new ventures.

The OFS entities have unfamiliar names, but they are not some lallu foreign body or promoter vehicles.

Google search tells the OFS to be coming from a PE investor, which is Elliott Management, a $40 billion US based fund.

Saw some messages saying promoter entities are selling. THAT IS NOT THE CASE HERE.

HNIs

Took Much Risk
Cost will 195-210₹

Risk Risk

High Risk HNI must borrow Funds

ROI 6.5%

Grey Premium 38₹