- Bid /Offer will open on Monday, May 26, 2025 and close on Wednesday, May 28, 2025
- Investors can bid for a minimum of 63 equity shares and in multiples of 63 shares thereafter
- The company’s infrastructure spans key Indian ports, including Haldia, Kochi, Mangalore, Pipavav, and Kandla, with facilities for the storage and handling of chemicals, oils, petroleum products, LPG, and other gases
NE BUSINESS BUREAU
AHMEDABAD, MAY 23
Aegis Vopak Terminals Limited on Friday announced its initial public offering (IPO) is slated to open for subscription on Monday, May 26 and close on Wednesday, May 28. It is priced in the range of ₹223 to ₹235 per share, with a face value of ₹10 per share.
Investors can bid for a minimum of 63 equity shares and in multiples of 63 shares thereafter
The company has reduced the size of its IPO to ₹2,800 crore, down from the previously planned ₹3,500 crore. The entire IPO will consist of a fresh issue of shares. At the upper price band, the company’s total market capitalisation is estimated at ₹26,000 crore.
Aegis Vopak Terminals that owns and operates storage terminals for liquefied petroleum gas has mobilised ₹1,260 crore via anchor book on May 23, a day before the IPO opening.
SmallCap World Fund, American Funds, Aberdeen, Government Pension Fund Global, Nomura Trust, Tocu Europe, and Goldman Sachs were among global investors becoming shareholder in the company through anchor book.
Domestic institutional investors like HDFC Mutual Fund, 360 ONE Special Opportunities Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund, SBI General Insurance Company, Baroda BNP Paribas MF, and ITI Mutual Fund also invested in the company.
“Out of the total allocation of 5.36 crore equity shares to the anchor investors, 1.58 crore shares were allocated to 6 domestic mutual funds through a total of 17 schemes,” Aegis Vopak Terminals said.
AVTL is a joint venture between Aegis Logistics, which owns 50.1%, and the Netherlands-based Vopak, which holds 47.4%. After the IPO, the promoter group holding will fall to nearly 87% from the current 97.4%.
The company’s infrastructure spans key Indian ports, including Haldia, Kochi, Mangalore, Pipavav, and Kandla, with facilities for the storage and handling of chemicals, oils, petroleum products, LPG, and other gases. This extensive network supports both domestic and international trade, bolstering its strategic importance in the industry.
Aegis Vopak owns and operates two LPG storage terminals and sixteen liquid storage terminals, with a combined liquid storage capacity of approximately 1.50 million cubic meters and 70,800 metric tonnes of static LPG storage capacity. The Mangalore terminal, a key asset, has a total liquid storage capacity of 119,152 cubic meters, serving various industries in the Karnataka hinterland.
The company proposes to utilize the net proceeds from the issue towards the following objects – (i) Repayment or prepayment of all or a portion of certain outstanding borrowings availed by the company estimated to be ₹2,015. 95 crore; (ii) Funding capital expenditure towards contracted acquisition of the cryogenic LPG terminal at Mangalore estimated to be ₹ 671.30 crore; and balance towards General corporate purposes.
For fiscal 2024, Aegis Vopak Terminals posted a revenue of ₹154 crore, compared to ₹114 crore in the previous year. Net profit rose to ₹25.78 crore from ₹7.32 crore. As of September 2024, the company’s total outstanding borrowings stood at ₹2,546.68 crore, signifying a strategic need to manage debt through the IPO proceeds.
Approximately 75 per cent of the IPO has been allocated to qualified institutional buyers, 15 per cent is reserved for non-institutional investors, and the remaining 10 per cent is earmarked for retail investors.
The IPO is set to be listed on both the BSE and NSE.
ICICI Securities, BNP Paribas, IIFL Securities, Jefferies India, and HDFC Bank are serving as the book-running lead managers for the Aegis Vopak Terminals IPO, with Link Intime India acting as the registrar.
