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    Antony Waste Handling withdraws Rs 203 crore IPO amid poor investor response

    Antony Waste Handling withdraws Rs 203 crore IPO amid poor investor response

    Antony Waste Handling withdraws Rs 203 crore IPO amid poor investor response
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    By CNBC-TV18  IST (Published)

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    The Antony Waste Handling Cell has decided to withdraw its initial public offering on Monday, the last day of bidding, due to tepid investor response amid poor market conditions.

    Antony Waste Handling Cell has decided to withdraw its initial public offering (IPO) on March 16, the last day of bidding, due to tepid investor response amid poor market conditions.
    Earlier on March 6, the company had extended the IPO closing date by five working days to March 16.
    The issue was subscribed only 49 percent as it received total bids for 23,87,450 shares against the issue size of 48,24,544 shares.
    The company had proposed to raise Rs 203 crore through this public issue. The price band of the issue had been revised to Rs 294-300.
    The outbreak of novel coronavirus has led a brutal sell-off in the stock market resulting in benchmark index Sensex plunging to a 30-month low and the Nifty to a three-year low.
    Antony Waste Handling had said that the markets have been witnessing significant volatility since the filing of its RHP.
    “Additionally, the preventive moratorium imposed on Yes Bank on March 5 has adversely impacted investor sentiment, with the markets falling and significant erosion in the liquidity position across the system and network impacts," the company said on March 6.
    On Monday, the Rs 10,340 crore IPO of SBI Cards and Payment Services was also impacted by the market rout even after the issue being oversubscribed 26.54 times.
    The shares of SBI Card listed at a 13 percent discount at Rs 658 and settled at Rs 683.20 against issue price of Rs 755 per share on the BSE.
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