Antony Waste Management Cell Limited which is tapping the capital market for a second time in calendar year 2020 completed allocation to anchor investors. The company allotted 28,57,003 equity shares to 4 anchor investors comprising of 10 entities. The highest allocation was made to Massachusetts Institute of Technology who was allotted 12,69,564 shares or 44.44% of the anchor book. This was followed by an allocation of 11,11,139 shares or 38.89% to SBI mutual fund under six different schemes.

The company is tapping the capital markets with its fresh offer for Rs 85 crs and an offer for sale of 68,24,933 equity shares in a price band of Rs 313-315. The issue opens on Monday the 21st of December and closes on Wednesday the 23rd of December.

The full list of anchor allotment is given below: –

Mrs Bectors Food Specialities Limited which had tapped the markets with its IPO which consisted of a fresh issue of Rs 40.5 crs and an offer for sale of Rs 500 crs received overwhelming support and was subscribed 199.41 times. The public issue had opened on Tuesday the 15th of December and closed on Thursday the 17th of December 2020. The price band was Rs 286-288. The success of burger King India Limited which hit upper circuits on four consecutive days after listing on Monday, before the tide reversed on Thursday has certainly helped in the huge subscription received by Mrs Bectors.

The issue saw subscription of 178.08 times in the QIB category, a huge 625.20 times in HNI category, 29.53 times in Retail category and 45.80 times in Employee category. The employee category is unusual but must be looked into with respect to the size of the offering which was a mere 18,315 shares. There were 25.82 lac applications and on the basis of applications, the issue was subscribed 19.67 times.

Earlier the company had allotted 56,25,415 equity shares to 15 Anchor investors consisting of 31 entities. An identical 4,75,500 equity shares or 8.5% were allotted to 7 entities which included names like Franklin India, SBI Mutual Fund, Nomura, Goldman Sachs and Nippon India.

In what could only be termed as strange coincidence, the company Mrs Bectors, produces buns used by burger chains like McDonalds and Burger King. The immediately preceding issue was that of Burger King.

The cost of the leveraged HNI was in the region of Rs 215-225. This effectively means that the break-even price for the leveraged HNI has to be Rs 512. This implies a gain of 77% on the issue price and a market capitalisation of Rs 2,925 crs at listing price.

Interesting times for food companies and investors alike.

Full details of the subscription are given below: –