Aegis Vopak Terminals IPO Draws Strong Investor Interest
Aegis Vopak Terminals' IPO garnered 2.09 times subscription. The offering saw bids for over 14 million shares against the 6.9 million available. The funds will be largely allocated to debt payment and a new terminal acquisition. Aegis operates liquid and gas storage across India.
- Country:
- India
Aegis Vopak Terminals, a branch of Aegis Logistics Ltd, witnessed significant market response to its initial public offering (IPO), which closed with a 2.09 times subscription rate on Wednesday.
According to NSE data, the company received bids amounting to 14,437,054 shares, significantly exceeding the 6,905,296 shares available for sale. The offering met enthusiastic interest from Qualified Institutional Buyers (QIBs) who subscribed 3.30 times, while Retail Individual Investors (RIIs) and non-institutional investors bought in at 77% and 56% respectively.
The IPO, valued at up to Rs 26,000 crore, is aimed at raising Rs 2,800 crore, with key allocations for debt payment and the acquisition of a new LPG terminal in Mangalore. Managed by leading investment firms like ICICI Securities and BNP Paribas, the issue reflects Aegis Vopak Terminals' strong position in the liquid and gas storage sector across India.
(With inputs from agencies.)
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