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<ul><li>The funds were then disbursed in January 2016 to the Delhi government, but were not utilised by the six implementation bodies.</li><li>The total number of household toilets the civic bodies had expected to construct was 11,117, which is woefully short of the Government of India’s target based on a 2011 census of 1,27,005. </li><li>South Delhi Municipal Corporation, Delhi Cantonment Board and Delhi Urban Shelter Improvement Board did not see the need to construct any public toilets. </li></ul>A <a href="http://www.cag.gov.in/sites/default/files/audit_report_files/Chapter_3_Compliance_Audit_of_Report_No_3_of_2018_-_Social%2C_General_and_Economic_Sectors_%28Non-PSU%29_Government_of_Delhi.pdf">report tabled by the Comptroller and Auditor General (CAG)</a> at the <keyword id="6356117" type="UNKNOWN" weightage="20" keywordseo="Delhi-Assembly">Delhi Assembly</keyword> had some astonishing revelations. Of the ₹403.1 million allocated for the construction of toilets, not one rupee has been spent. The money has been lying ‘idle’ in the non-interest generating current accounts of the government. The Modi government’s flagship mission was launched on October 2nd, 2014. The funds were then disbursed in January 2016 to the Delhi government, but were not utilised by the six implementation bodies -- South Delhi Municipal Corporation (South DMC), <keyword id="6356596" type="ORGANIZATION" weightage="20" keywordseo="north-delhi-municipal-corporation">North Delhi Municipal Corporation</keyword> (North DMC), East Delhi Municipal Corporation (East DMC), Delhi Urban Shelter Improvement Board (DUSIB), New Delhi Municipal Council (NDMC) and the Delhi Cantonment Board (DCB). According to the report, the <keyword id="6354944" type="DEFINITION" weightage="20" keywordseo="aam-aadmi-party">Aam Aadmi Party</keyword> government had initially promised to construct 200,000 toilet blocks in slums/JJ clusters and unauthorised colonies in its manifesto but failed to deliver on the promise. In fact, the few toilets that were constructed were done from the <keyword id="75926" type="ORGANIZATION" weightage="20" keywordseo="municipal-board">Municipal Board</keyword>’s own funds. The audit pointed to a lack of planning, the skewing of some guidelines and the failure of an adequate monitoring and evaluation mechanism as reasons for the government’s inability to follow through on its commitment. The key findings were as follows:- <ul><li>The implementation bodies underestimated the number of toilets they needed to construct. The three types of toilets that come under this scheme include - household toilets, community toilets and public toilets. According to the audit, the total number of household toilets the civic bodies had expected to construct (September 2015) was 11,117, which is woefully short of the Government of India’s target based on a 2011 census of 1,27,005. </li><li>Out of the six civic bodies, only the East Delhi Municipal Corporation saw the need to construct household toilets in its area. And there too, only 11,117 toilets were projected to be constructed by East DMC whereas the government had projected a need for 56,734 toilets.</li><li>The South Delhi Municipal Corporation and Delhi Cantonment Board didn’t see the need to construct any community toilets but the government had projected a requirement of 718 and 408 community toilets respectively.</li><li>South Delhi Municipal Corporation, Delhi Cantonment Board and Delhi Urban Shelter Improvement Board did not see the need to construct any public toilets. However, the North Delhi Municipal Corporation and East Delhi Municipal Corporation found the necessity of constructing only 205 and 120 public toilets as against 4,116 and 1,972 respectively projected by the central government.</li><li>The South Delhi Municipal Corporation cited space constraints as a reason for not projecting any requirement for construction of community toilets and public toilets.</li><li>“South and North DMCs did not consider unauthorized colonies for projecting requirement of Individual Household Toilets stating that they do not have jurisdiction over them thereby leaving unauthorized colonies out of Mission coverage with regard to Household Toilets.”</li><li>The audit also pointed out that the Delhi government only spent ₹20.3 million on public awareness programme against ₹51.7 million released for this purpose. The audit said, ”this was indicative of inadequate efforts on the part of these implementing agencies to educate the households to avail the benefit of household toilets.”</li><li>The audit noted that the finances were irresponsible managed. There were delays in releasing funds to the implementing agencies, which was exacerbated by the fact that some funds were allocated incorrectly. Furthermore, the implementation agencies did not make use of whatever funds they did receive.</li><li>The report added that the Delhi Urban Shelter Improvement Board (DUSIB), which is responsible for making slums and JJ clusters open defecation free, did not receive the state’s share from the government which accounted for 60% of the amount required. The DUSIB later refunded the entire amount of ₹68.6 million it had received from the centre under the Mission.</li><li>Finally, the audit noted that the oversight and monitoring mechanism set up to ensure the implementation of the Mission was ineffective. “The State level High Power Committee (HPC) headed by the Chief Secretary is responsible for approval of plan and projects, sanction of allocation of resources, and monitoring of outcome of the Mission. The audit noted that the HPC met four times since inception of the scheme; discussed the identification of beneficiaries; sought an action plan for scheme implementation, ordered the timely release of funds received from the GoI as well as the State share to the implementing agencies; and requested timely submission of utilisation certificate. Many of these issues were discussed repeatedly in every meeting without much progress thereon.”</li></ul>

The Delhi government has failed to make even one toilet under the Swachh Bharat Mission

Delhi CM <keyword id="260213" type="PERSON" weightage="100" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword> has promised that he would give a new look to the city's civic management, making it "comparable to London within just one year if AAP wins the <keyword id="6356237" type="UNKNOWN" weightage="100" keywordseo="municipal-polls">municipal polls</keyword>." 
 
Also read: <a href="http://www.businessinsider.in/Believe-it-or-not-AAP-spent-Rs-1-crore-of-tax-payers-money-on-chai-and-samosa/articleshow/54016190.cms">Believe it or not: Aam Aadmi Party spent Rs 1 crore of taxpayers money on chai and samosa</a> 
 
Delhi would most probably hold its municipal polls next month. 
 
In his speech, Kejriwal attacked both leading parties, <a href="http://www.businessinsider.in/CBI-raids-Arvind-Kejriwal-calls-Modi-psychopath-BJP-demands-apology/articleshow/50187217.cms">BJP</a> in the <keyword id="6414396" type="COMPANY" weightage="100" keywordseo="municipal-corporations">municipal corporations</keyword> and Congress, which had been in power for fifteen years with <a href="http://www.businessinsider.in/Sheila-Dikshit-is-Congress-Chief-Minister-candidate-for-UP-polls-2017/articleshow/53209698.cms">Sheila Dikshit</a> as the Delhi CM. 
 
<a href="http://www.businessinsider.in/Arvind-Kejriwal-features-in-Fortunes-Worlds-50-Greatest-Leaders/articleshow/51550626.cms">Kejriwal</a> was in Uttam Nagar area when he said that the municipal bodies have failed to keep the capital clean. 
 
"They say Kejriwal fights a lot. Yes I do, but not for my wife or children. I fight for your rights. So you tell me, should I fight or not?" an emotionally charged Kejriwal addressed the rally. 
 The CM said that <keyword id="3977110" type="UNKNOWN" weightage="100" keywordseo="cleanliness-and-sanitation">cleanliness and sanitation</keyword> in the city is not under his direct control since the corporations are responsible for these works. He asked people to vote for <a href="http://www.businessinsider.in/Delhi-govt-wants-to-make-sure-Uber-Ola-cabs-come-with-fixed-price-band/articleshow/51922823.cms">AAP</a> in municipal polls so that he can make sure that these corporations do their work. 
 
"If AAP gets control, I promise to clean up Delhi like never before," he added. 
 
"Before AAP came to power, the government didn't carry out sewer works in unauthorised colonies. But we changed that as human beings live even in these colonies. Apart from laying sewers, we are working on regularisation. We sent the file to the Centre a year ago, but decision on it has been delayed. The high court has ordered the Centre to speed up the matter," Kejriwal said. 
 
Highlighting what he has done for Delhi in fields of education and health, he said that his government has brought change in the form of improved infrastructure and quality in these sectors. 
 
(Image source: Huffington Post)

'Looking London Talking Kejriwal'; CM promises London-like Delhi in one year

<ul><li>Antony Waste Handling Cell is all set to float its ₹300-crore initial public offer (IPO) on December 21.</li><li>This is the second time that the company is launching its IPO this year. Earlier in March the company had launched the ₹200 crore IPO but was withdrawn following a tepid response from investors. </li><li>It is one of India’s leading Municipal Solid Waste Management (MSW) company.Services include solid waste collection, transportation, processing and disposal services to Indian municipalities. </li></ul>One of India's leading Municipal Solid Waste Management (MSW) company, Antony Waste Handling Cell is all set to float its ₹300-crore initial public offer (IPO) on December 21. The price band has been fixed at ₹313-315 per share. This is the second time that the company is launching its IPO this year. Earlier in March the company had launched the ₹200 crore IPO but was withdrawn following a tepid response from investors. The IPO will comprise a fresh issue of shares aggregating to ₹85 crore and an offer-for-sale (OFS) of up to 68.24 lakh equity shares. Equirus Capital Private Ltd and IIFL Securities Ltd are the books running lead managers, and Link Intime India Private Ltd is the registrar to the issue. The shares will be listed on BSE and NSE. Antony Waste Handling Cell IPO opens next week <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opens on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 21 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Closes on </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">December 23 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹313-315 per share </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum bid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">47X47 </td></tr></tbody></table> The service range of the Antony Waste Handling includes solid waste collection, transportation, processing and disposal services to Indian municipalities. It has in-house expertise in the landfill construction and management sector. Antony Waste Handling Cell: All you need to know <ul><li>Antony Waste Handling Cell is one of the 5 leading players in this segment with end to end capabilities with a track record of 17 years.</li></ul><ul><li>It is the part of the diversified 'Antony' group, which includes the automotive body-building and ancillary industries,</li></ul><ul><li>Antony Waste client base includes the Municipal Corporation of Greater Mumbai (MCGM), the Navi Mumbai Municipal Corporation (NMMC), the Thane Municipal Corporation (TMC), Pimpri Chinchwad Municipal Corporation (PCMC), the North Delhi Municipal Corporation (NDMC), and many other municipal corporations. </li></ul><ul><li>Urbanization is a critical factor driving the MSW generation in the country. The MSW Management market is estimated at ₹ 3,000 crore for fiscal 2018 and is expected to reach ₹6,200 crore by fiscal 2023 at a CAGR of 15.6%.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/burger-king-ipo-investors-tripled-their-money-in-three-days/articleshow/79761366.cms" data-type="tilCustomLink">Burger King's IPO investors tripled their money in three days</a> <a href="https://www.businessinsider.in/business/news/india-has-a-hot-new-debate-on-its-plate-should-the-likes-of-burger-king-kfc-and-mcdonalds-menus-mention-calories/articleshow/79771040.cms" data-type="tilCustomLink">India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?</a>

Antony Waste Handling prices IPO shares at ₹313-315 a piece in its second attempt —  wants to raise 50% more this time

New Delhi, Feb 18 () As many as 13 members, including representatives of the Union housing and urban affairs ministry and a municipal corporation, will be part of Sebi's committee on 'muni bonds' to suggest the markets regulator on policy matters pertaining to development of such debt securities. The regulator, on Friday, said it constituted a municipal bonds development committee headed by its Executive Director Sujit Prasad. The panel will suggest Sebi on policy matters pertaining to the development of municipal debt securities and facilitate municipalities for issuance of such bonds. The committee comprises representatives from Sebi, municipal corporations, lawyers, professionals and market practitioners. D Thara, joint secretary at the Ministry of Housing and Urban Affairs; Shekhar Gaikwad, municipal commissioner of Pune Municipal Corporation; and G Mathi Vathanan prinicipal secretary at housing and urban development department in the Odisha government will be part of the committee. Other members of the panel include NSE Chief Business Officer Ravi Varanasi, SBI Capital Markets Head (Capital Markets) Rakesh Joshi, Crisil Ratings President Gurpreet Chhatwal and BSE Chief Trading Operations and Listing Cell Girish Joshi. The committee has been tasked to suggest the regulator on matters required to be taken up for changes in legal framework to introduce simplification and transparency in systems and procedures in the primary and secondary market. Also, the panel would recommend on matters related to regulation of intermediaries for ensuring investor protection in the primary and secondary markets as well as on measures to facilitate issuers, municipalities, for issuance of municipal debt securities. In September, Sebi had relaxed norms for the 'muni bonds' issuance to help smart cities as well as entities working in areas of city planning and urban development work, including municipalities, raise funds through debt securities. Nearly five years ago, the regulator had come out with the Issue and Listing of Debt Securities by Municipalities Regulations and since then, seven municipalities have raised nearly Rs 1,400 crore by issuing their debt securities, which are commonly known as 'muni bonds'. SP HRS

Representative of municipal corp part of Sebi's muni bonds development panel

In June 2016, we reported about MPhils and postgraduates applying for the <a href="http://www.businessinsider.in/MPhils-for-porter-jobs/articleshow/52847933.cms">post of porters</a> in Maharashtra Public Service Commission, a job that only required the basic primary education. Looks like Uttar Pradesh is all set to beat Maharashra’s record in hiring well qualified people for menial jobs. 
 As per reports, as many as five lakh aspirants, including a number of graduates and post-graduates, have applied for 3,275 posts of sweepers in <keyword id="134769" type="COMPANY" weightage="100" keywordseo="Kanpur-Municipal-Corporation">Kanpur Municipal Corporation</keyword>, a post that requires no educational qualifications. As per officials from the municipal corporation, the number of applications could go up to seven lakh. 
 
Out of these 3,725 posts, 1,500 are for general category and rests are meant for reserved categories. 
 
<a href="http://i.huffpost.com/gen/3665506/images/o-SWEEPERS-INDIA-facebook.jpg">Image source</a>

After Maharashtra, it's Uttar Pradesh's turn to hire Post-graduates and Graduates for menial jobs

<ul><li>Antony Waste Handling Cell is all set to float its ₹300-crore initial public offer (IPO) for the second time on December 21.</li><li>This will be the first and the biggest IPO by a solid <keyword id="6359012" type="UNKNOWN" weightage="20" keywordseo="waste-management">waste management</keyword> and transportation company as there are no listed peers of the company.</li><li>Antony Waste Handling Cell Limited has an established track record of 17 years and is among the top five players in its space. </li><li>There are various risk factors highlighted in the company’s red herring prospectus, which investors must consider before they decide to invest in the company.</li></ul>India's second-largest Municipal Solid Waste Management (MSW) company, Antony Waste Handling Cell is all set to float its ₹300-crore initial public offer (IPO) for the second time on December 21. The company earlier in March launched a ₹200 crore IPO but had to withdraw it following a tepid response from investors. But it looks like it is all geared up this time, and the company has revised the price band to ₹313-315 per share. The grey market premium for its shares is hovering at ₹45-50 — suggesting an upside of 15% over the issue price band. This will be the first and the biggest IPO by an MSW collection and transportation company as there are no listed peers on the Indian stock exchanges as of now. The company said the proceeds from the issue would be utilised for part-financing for its PCMC WTE project through investment in its subsidiaries, and for the reduction of the consolidated borrowings. Here’s are the Investment experts recommendations for <keyword id="8862926" type="UNKNOWN" weightage="20" keywordseo="antony-waste-handling-ipo">Antony Waste Handling IPO</keyword> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendations </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Capital </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Geojit Financials </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JM Financials </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Liladher </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not Rated </td></tr></tbody></table> Strong track record and marquee clients Antony Waste Handling Cell Limited has an established track record of 17 years and is among the top five players in the Indian MSW management industry. It is indulged in providing a full spectrum of MSW services which includes solid waste collection, transportation, processing and disposal services across the country, primarily catering to Indian municipalities. The company has few of the marquee clients in its kitty including the Municipal Corporation of Greater Mumbai (MCGM), the Navi Mumbai Municipal Corporation (NMMC), the Thane Municipal Corporation (TMC), Pimpri Chinchwad Municipal Corporation (PCMC), the North Delhi Municipal Corporation (NDMC), and other municipal corporations. Significant growth in revenue Just like its strong client base, the company also has a strong track record of profitability in the past fiscals. Antony Waste Handling Cell profit has grown over 35% in the past three years. <div type="image" title="Antony Waste Handling Cell" msid="79791059" hostid="261"></div> And, its long-term nature of projects (ranging from 5-25 years) gives visibility for consistent revenue generation in future. De-risked business model with a diverse portfolio of projects According to Axis Capital, in this industry, the number, size and duration, of simultaneously ongoing projects is considered an indicator of future performance since they provide an indication of anticipated future revenue. Company’s project portfolio is diversified across services provided, counterparties, project duration, nature of contracts and geographical areas where they operate. And, the growing MSW industry will ensure growth in its business. According to the Frost &amp; Sullivan Report, The MSW Management market is estimated at ₹50,000 million for FY2020 and is expected to reach ₹98,000 million by FY 2025 at a CAGR of 14.4%. Risk factors to consider before subscribing Despite its established track record, there are various risk factors highlighted in the company’s red herring prospectus which investors must consider before they decide to invest in the company. Here a brief look at the top risk factors. Majority portion of the revenue comes from limited clients The company said it had derived a significant portion of our revenue from a limited number of clients and it may continue to derive a significant portion of its revenue from such clients. According to RHP, the top five clients contributed 81.76% in FY 2020. And, any adverse development with any of its top clients, including as a result of a dispute with or disqualification by any major customers, may result in a significant reduction in its cash flows and liquidity. Dependent on municipalities for budgets The company is largely dependent on municipalities for a substantial proportion of its business and revenue. And, the company highlighted that many municipalities have been struggling to fund various solid waste management projects from their own revenue receipts and are highly dependent on the government's budget allocation. And, any decline in the budgetary allocation towards MSW projects will have a material adverse impact on its business, financial condition, and results of operations. Out of 18 ongoing projects, 17 of its projects have been awarded by municipal corporations, according to the prospectus. Limited reach The company has its clients based out of limited geographies including Maharashtra, Delhi and other states. And, its exposure to projects in new geographies and with other municipal corporations may not yield much profit as its current contracts. SEE ALSO: <a href="https://www.businessinsider.in/science/news/fda-says-it-will-rapidly-work-toward-authorizing-modernas-covid-19-vaccine/articleshow/79789544.cms" data-type="tilCustomLink">FDA says it will 'rapidly work toward' authorizing Moderna's COVID-19 vaccine</a> <a href="https://www.businessinsider.in/tech/news/facebook-and-google-have-been-accused-of-striking-a-secret-illegal-advertising-deal/articleshow/79778780.cms" data-type="tilCustomLink">Facebook and Google have been accused of striking a secret, illegal advertising deal</a>

You Searched For "municipal corporations" and got 6 results

The Delhi government has failed to make even one toilet under the Swachh Bharat Mission

Kavita Majumdar

'Looking London Talking Kejriwal'; CM promises London-like Delhi in one year

BI India Bureau

Antony Waste Handling prices IPO shares at ₹313-315 a piece in its second attempt — wants to raise 50% more this time

Navdeep Yadav

Representative of municipal corp part of Sebi's muni bonds development panel

PTI

After Maharashtra, it's Uttar Pradesh's turn to hire Post-graduates and Graduates for menial jobs

BI India Bureau

Antony Waste Handling Cell ₹300-crore IPO opens today — these are the risks and opportunities

Navdeep Yadav

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