• Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
Wednesday, June 29, 2022
No Result
View All Result
SUBSCRIBE
The Outlooker
27 °c
Delhi
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
  • Home
  • Opinion
  • Politics
  • World
  • Business
  • Science & Tech
No Result
View All Result
The Outlooker
No Result
View All Result
  • National
  • Politics
  • Opinion
  • Business
  • Science
  • World
  • Health
Home Business

Antony Waste Handling grey market premium falls amid share market volatility; what to expect on listing day?

by The Outlooker Web Desk
December 22, 2020
in Business
0
Warren Buffett’s favourite stock market indicator moves above historical average in India
1.8k
SHARES
12.9k
VIEWS
Share on FacebookShare on Twitter

The grey market premium of Antony Waste has fallen to Rs 60 from Rs 190 previously

The Rs 300-crore Antony Waste Handling Cell’s initial public offer (IPO) has been subscribed 2.7 times so far on day two with retail investors subscribing their portion nearly 5 times. The solid waste management company had earlier launched its IPO in March this year but was withdrawn due to a weak response from investors. After the new strains of the coronavirus reported in the UK, Indian share markets reversed the gains made in the last couple of sessions. In today’s session, BSE Sensex and Nifty 50 were seen trading volatile, which hit Antony Waste Handling Cell’s grey market premium.

So far, Qualified Institutional Buyers (QIBs) have subscribed to 63 per cent of their quota while Non-Institutional Investors (NIIs) have bid for merely 15 per cent of the portion reserved. Not less than 50 per cent of the issue has been reserved for QIBs while 35 per cent for retail investors and up to 15 per cent for the NIIs.

Grey market premium hit by share market correction

The grey market premium of Antony Waste has fallen to Rs 60 from Rs 190 previously. Antony Waste Handling Cell shares were seen trading at Rs 375 apiece, up Rs 60 or 19 per cent, over the issue price of Rs 315 apiece. In the previous session, the shares of the solid waste management company were seen trading with Rs 190 or 60 per cent premium over the IPO price, at Rs 505 apiece. Abhay Doshi, Founder- UnlistedArena.com dealing in Pre-IPO & Unlisted Shares, told The Outlooker Online, that the grey market premium of Antony Waste subsequently jolted with the fall in the broader market. The premium fell more than 50 per cent in a day.

Abhay Doshi also added that a significant euphoria was seen in the primary market owing to bull run in broader markets. Antony Waste IPO which was called off in March 2020, was getting Rs 180 premium over issue price which was quite surprising. “No sooner the market corrected, grey market premiums too fell in a parallel fashion,” Doshi said.

Manthan Mehta, Head Unlisted & Private Equity Rurash Financial Services Pvt Ltd, told The Outlooker Online, that the grey market premium of Antony Waste fell today following the correction in Indian share market yesterday. Mehta expects Antony Waste Handling Cell shares to list at Rs 410, implying a 35 per cent premium over the IPO price.

What to expect from Antony Waste Handling Cell on listing day?

Antony Waste Handling Cell ltd (AWHC) is one of the top players in the waste management system in India. The management is highly dependent on the municipal authorities for a substantial proportion of its business and revenues. Vishal Wagh, Head of Research, Bonanza Portfolio Ltd told The Outlooker Online that any decline in budgetary allocations towards Municipal Solid Waste Management services may have a material adverse impact on the business. Also, the company has a receivable risk from municipalities. “The issue is offered at P/E of 11.5x on FY20 earnings. We assign a Neutral rating to the issue,” Wagh said.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

The Outlooker is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

The Outlooker Web Desk

The Outlooker Web Desk

Next Post
New SOP For UK Arrivals, Separate Isolation For Those With Mutant Strain

New SOP For UK Arrivals, Separate Isolation For Those With Mutant Strain

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Uddhav Thackeray Submits Resignation To Maharashtra Governor Bhagat Singh Koshyari
National

Uddhav Thackeray Submits Resignation To Maharashtra Governor Bhagat Singh Koshyari

June 29, 2022
Uddhav Thackeray Addresses Media After Court Says Must Take Test Tomorrow
National

Uddhav Thackeray Addresses Media After Court Says Must Take Test Tomorrow

June 29, 2022
US Stocks: Wall Street falls after open on rate hike woes
Business

US Stocks: Wall Street falls after open on rate hike woes

June 29, 2022
Governor’s call for floor test illegal, didn’t consider disqualification notices, Sena to SC
Politics

Order to conduct floor test in supersonic speed amounts to putting cart before horse: Shiv Sena to SC

June 29, 2022

Connect with us

No Result
View All Result

Archives

  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020

Category

  • Artistic
  • Business
  • Crypto
  • Design
  • Entertainment
  • Fashion
  • featured
  • Food
  • Gaming
  • Health
  • Human
  • Lifestyle
  • Movie
  • Music
  • National
  • Opinion
  • Politics
  • Science
  • Spaces
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World

Recent Posts

  • Uddhav Thackeray Submits Resignation To Maharashtra Governor Bhagat Singh Koshyari
  • Uddhav Thackeray Addresses Media After Court Says Must Take Test Tomorrow
  • US Stocks: Wall Street falls after open on rate hike woes

About Us

The Outlooker

The Outlooker is your source of authentic, hand-picked news, stories, analysis from India & the World.

  • Terms Of Service
  • Privacy Policy
  • About us
  • Submit your story
  • Contact

© 2019-2021 The Outlooker. All rights reserved.

No Result
View All Result
  • Home
  • Politics
  • World
  • Business
  • Science
  • National
  • Entertainment
  • Gaming
  • Movie
  • Music
  • Sports
  • Fashion
  • Lifestyle
  • Travel
  • Tech
  • Health
  • Food

© 2019-2021 The Outlooker. All rights reserved.