Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
An announcement from Antony Waste Handling Cell Ltd. ( (IN:AWHCL) ) is now available.
Antony Lara Enviro Solutions, a material subsidiary of Antony Waste Handling Cell, has signed a Share Subscription and Shareholders’ Agreement with Japan’s JFE Engineering Corporation for an investment of up to ¥750 million in two special purpose vehicles. The SPVs, Kadapa Renew Energy and Kurnool Renew Energy, are developing waste-to-energy projects in Andhra Pradesh, advancing Antony Waste’s move into energy recovery from waste.
Under the deal, JFE Engineering will acquire a 25% minority equity stake in each SPV via primary share issuance, while Antony Lara will retain a 75% stake. The SPVs will cease to be wholly owned subsidiaries of Antony Lara, and JFE will gain protective rights and board representation, bringing strategic technical support and capital to the projects without altering Antony Waste Handling Cell’s overall shareholding pattern.
More about Antony Waste Handling Cell Ltd.
Antony Waste Handling Cell Ltd. operates in the solid waste management and environmental services industry in India, offering municipal waste collection, transportation, processing and disposal solutions. Through its material subsidiary Antony Lara Enviro Solutions, the company is expanding into waste-to-energy projects, focusing on converting municipal waste into renewable power in key Indian states.
Average Trading Volume: 32,497
Technical Sentiment Signal: Sell
Current Market Cap: 11.97B INR
For a thorough assessment of AWHCL stock, go to TipRanks’ Stock Analysis page.