The Rs300 crore Initial public offering (IPO) of Antony Waste Handling Cell opened Tuesday to strong demand and was oversubscribed in the first few hours in  similar response to Burger King and Mrs Bectors Food public issues.

The IPO will close on December 23. Antony Waste Handling Cell is a leading player in solid waste management services in the country. As of end of Day 1, the IPO was nearly two times subscribed with the retail portion subscribed 3.56 times, QIB 0.63 times and HNI 0.08 times. The public offer for Antony Waste Handling Cell, one of the top 5 players in the Indian MSW management industry, has been subscribed 2.4 times so far on December 22, the second day of bidding.

The portion set aside for retail investors has seen subscription of 4.4 times, while the reserved portion of non-institutional investors has been subscribed 9.74 percent and that of qualified institutional buyers 63 percent.

Antony Waste primarily engaged in municipal solid waste collection & transportation (C&T) projects, MSW processing projects and mechanized sweeping projects.

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