At 11:11 am, the stock was down 9.10 per cent to Rs 370.20, while benchmark Sensex dropped 0.29 per cent to 47,729.75 points.
Shares of Antony Waste Handling Cell had closed at Rs 407.25 on Friday , a 29.3 per cent gain on the issue price of Rs 315. The stock debuted at Rs 430 on the BSE, up 36.51 per cent from the issue price.
The company is the second-largest player in the Indian municipal solid waste management industry with end-to-end capabilities. It is among the key players in landfill construction and management sector in India with in-house expertise for landfill construction and operations.
While the stock delivered decent listing gains, it was still the least impressive debut in recent times.
Mrs Bectors which made its debut on December 24, saw 74 per cent listing gains. Burger King, which was listed on December 14, witnessed listing gains of more than 92 per cent.
While Mazagaon got listed on October 12 at a near 50 per cent premium to its IPO price, Chemcon Speciality saw a 115 per cent surge at its listing on October 1. Shares of Happiest Minds Technologies rallied 111 per cent at its listing. The IPO was sold from September 7 to September 9.