Shares of Antony Waste Handling Cell on Friday made a remarkable market debut, and closed with a premium of nearly 30 pc against its issue price of Rs 315. The stock listed at Rs 430, a gain of 36.50 pc from the issue price, on the BSE. During the day, it jumped to a high of Rs 492.75, reflecting a sharp gain of 56.42 pc. It finally closed at Rs 407.25, up 29.28 pc. At the National Stock Exchange, it debuted at Rs 436.10, up 38.44 pc and finally closed up 29.84 pc at Rs 409.

The IPO saw demand of 15x the number of shares on offer. Though demand in all three categories was robust, it did not attract the kind of frenzy that some of the other IPOs in December witnessed. The firm plans to utilise the net proceeds for part-financing of the waste-to-energy project at Pimpri-Chinchwad, through investment in its subsidiaries AG Enviro and ALESPL.

Its market valuation was Rs 1,151.99 crore on the BSE. The Rs 300-crore initial public offer of Antony Waste Handling Cell was subscribed 15 times last month. The price range for the offer was at Rs 313-315 per share. Equirus Capital Private Limited and IIFL Securities Limited were the managers to the offer. Antony Waste Handling Cell is a leading player in solid waste management services in the country.

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