Aegis Vopak Terminals Launches IPO with Price Band Set at ₹223-235 per Share

Aegis Vopak Terminals Ltd, India's premier standalone storage and handling business, has formally announced the price band of its highly awaited Initial Public Offering (IPO) at ₹223-235 per equity share. The IPO, available for subscription from May 26 to May 28, 2025, would seek to raise around ₹2,800 crore through a 100% fresh issue of equity shares. The anchor investor bidding will start on May 23, allotment results will be declared by May 29 and listing is planned for June 2 on BSE and NSE.

Key Highlights:

Price Band: ₹223-235 per share

IPO Dates: Opens May 26, closes May 28, 2025

Issue Size: ₹2,800 crore (revised from ₹3,500 crore)

Allotment & Listing: Allotment on May 29, listing on June 2

Use of Proceeds: Proceeds will be utilized for repayment of debt, capital spending (specifically the acquisition of a Mangalore cryogenic LPG terminal), and general corporate needs

Company Overview: Aegis Vopak Terminals owns India's largest third-party tank terminals for LPG and liquid products, with roughly 12% of the nation's total static storage capacity

Financials: Registered net profit of ₹86.54 crore in FY24, from a narrow loss in FY23; revenue grew to ₹570.12 crore in FY24

Promoters: Aegis Logistics (India) and Royal Vopak (Netherlands) in joint venture

Lead Managers: HDFC Bank, Jefferies India, IIFL Capital, BNP Paribas, and ICICI Securities

Market Environment: The IPO follows revived action in India's primary markets, with some big-ticket listings expected over the next few weeks

This public issue is a step in a major direction for Aegis Vopak Terminals as it seeks to improve its balance sheet and finance strategic growth, especially in the high-growth LPG business.

Source: Moneycontrol