Aegis Vopak Terminals IPO ends with 2.09x subscription

The offer received bids for 14.43 crore shares as against 6.90 crore shares on offer.

The initial public offer of Aegis Vopak Terminals received bids for 14,43,72,942 shares as against 6,90,58,296 shares on offer. The issue was subscribed 2.09 times.

The Qualified Institutional Buyers (QIBs) category was subscribed 3.30 times. The Retail Individual Investors (RIIs) category was subscribed 0.77 times. The Non-Institutional Investors (NIIs) category was subscribed 0.56 times.

The issue opened for bidding on 26 May 2025 and it closed on 28 May 2025. The price band of the IPO is fixed between Rs 223 and 235 per share.

The offer comprised a fresh issue of up to 119,148,936 equity shares at the upper price band of Rs 235 and 125,560,538 equity shares at the lower price band of Rs 223, aggregating to Rs 2,800 crore.

The company will use the IPO proceeds to repay borrowings worth Rs 2,015.95 crore, fund Rs 671.3 crore towards acquiring a cryogenic LPG terminal at Mangalore, and for general corporate purposes.

As of 31 March 2025, total borrowings stood at Rs 2,474.17 crore. The Mangalore terminal, with a total capex of Rs 968 crore, is expected to commence operations by June 2025. The project is being developed by Sea Lord Containers, a wholly owned subsidiary of Aegis Logistics and part of the promoter group.

Ahead of the IPO, Aegis Vopak Terminals on Friday, 23 May 2025, raised Rs 1,259.99 crore from anchor investors. The board allotted 53,617,021 shares at Rs 235 each to 32 anchor investors.

Aegis Vopak Terminals is India's largest third-party tank storage operator for LPG and liquid products, with a total capacity of 1.5 million cubic meters for liquids and 70,800 tonnes for LPG as of 31 December 2024. The company accounts for approximately 11.5% of India?s total LPG static storage capacity and 25.5% of third-party liquid storage capacity.

Aegis Vopak is a joint venture between Aegis Logistics (50.1%) and Vopak India BV (47.4%), part of Dutch-based Royal Vopak, a global leader in tank storage with 77 terminals in 23 countries. The company is expanding LPG storage capacity to 200,800 tonnes by FY26 and recently added 101,900 cubic meters of liquid storage at its JNPA terminal in Navi Mumbai.

The firm reported a consolidated net profit of Rs 85.8910 crore and total income of Rs 464.18 crore for the nine months ended on 31 December 2024.

Powered by Capital Market - Live News