J. Sagar Associates (“JSA”) advised Antony Waste Handling Cell Limited (“AWHCL”), Equirus Capital Private Limited and IIFL Securities Limited in relation to the initial public offering of AWHCL of INR 3000 million (“IPO”). AWHCL is one of the top five players in the Indian municipal solid waste (“MSW”) management industry with an established track record of more than 19 years, providing full spectrum of MSW services which includes solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities. As per reports, the IPO was oversubscribed by 15 times. The equity shares of AWHCL were listed on the stock exchanges on January 1, 2021, the first such listing by a pure-play Municipal Solid Waste management player.
JSA team comprised Partner – Arka Mookerjee; Principal Associate – Pracheta Bhattacharya; and Associates – Krupa Brahmbhatt, Kinjal Shah and Sourav Modi.
Arka Mookerjee is a Partner and Co-Head of the Equity Capital Markets practice, with over 21 years of experience advising on India’s most complex and high-value transactions. Widely recognised for pioneering mandates—including India’s first QIP and InvIT IPO—he represents issuers, underwriters and investors across capital markets and investment structures. Arka actively engages with regulators and industry bodies, playing a key role in shaping India’s evolving capital markets framework.