Aegis Vopak Terminals Secures Rs 1,260 Crore Ahead of IPO Launch

Aegis Vopak Terminals, under Aegis Logistics Ltd, successfully raised Rs 1,260 crore from anchor investors in anticipation of its upcoming initial public offering (IPO). The IPO, featuring a price band of Rs 223 to Rs 235 per share, will be open for public subscription from May 26 to 28. The total valuation of the company at the upper price band is pegged at Rs 26,000 crore.

The IPO comprises a fresh issue of equity shares valued at Rs 2,800 crore, with no offer-for-sale component. The funds raised will be channeled towards significant financial objectives, including Rs 2,016 crore for debt repayment, Rs 671.30 crore for capital expenditures related to acquiring a cryogenic LPG terminal in Mangalore, and the remaining for general corporate purposes.

Aegis Vopak Terminals specializes in operating storage tank terminals across India, providing storage for various liquids and gases. Strategically located near major ports, these terminals offer significant advantages such as reduced delivery costs and enhanced delivery speed. Key players in the financial sector, including ICICI Securities and HDFC Bank, are leading the management of the book-running process.

(With inputs from agencies.)