Antony Waste Handling Cell has announced a significant corporate development with its subsidiary incorporating a new special purpose vehicle to expand operations in Mumbai's waste management sector.

New SPV Formation

The company's subsidiary has incorporated Mumbai Eco Solutions as a special purpose vehicle specifically designed for BMC collection and transportation projects. This strategic incorporation positions the company to directly engage with Brihanmumbai Municipal Corporation initiatives.

Strategic Focus on Mumbai Market

The formation of Mumbai Eco Solutions represents a targeted approach to capture opportunities in Mumbai's municipal waste management sector. The SPV structure allows for dedicated focus on collection and transportation services specifically tailored for BMC requirements.

This corporate action demonstrates the company's commitment to expanding its presence in key metropolitan markets through specialized entities designed to serve municipal corporations effectively.

Antony Waste Handling Cell Limited announced the incorporation of a new Special Purpose Vehicle through its subsidiary to execute waste management projects awarded by Brihanmumbai Municipal Corporation. The development represents a strategic expansion in the company's municipal waste management operations.

Subsidiary Incorporation Details

AG Enviro Infra Projects Private Limited, a material wholly owned subsidiary of Antony Waste, incorporated Mumbai Eco Solutions Private Limited on December 30, 2025. The new entity was established specifically to undertake two Collection and Transportation projects recently awarded by Brihanmumbai Municipal Corporation.

Investment Structure and Shareholding

The incorporation involved a cash consideration of ₹51,000.00, with AG Enviro subscribing to the Memorandum of Association and Articles of Association of Mumbai Eco Solutions. The subsidiary acquired 5,100 equity shares in the newly formed entity.

Project Background and Purpose

Mumbai Eco Solutions was established as a Special Purpose Vehicle to handle the operational requirements of the awarded municipal projects. The entity will focus on solid waste management services, specifically collection and transportation operations for Brihanmumbai Municipal Corporation. No governmental or regulatory approvals were required for the incorporation process.

Regulatory Compliance

The company disclosed the incorporation under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations 2015. The announcement follows the company's previous communication dated December 17, 2025, and complies with SEBI Master Circular requirements issued in November and December 2024.

This strategic move strengthens Antony Waste's position in municipal waste management operations while creating a dedicated vehicle for executing the BMC projects efficiently.