Aegis Vopak Terminals announces price band of Rs 223-235 for Rs 3,500 crore IPO
Aegis Vopak Terminals has announced a price band of Rs 223-235 for its initial public offering (IPO), which will be a fresh issue of equity shares, aggregating up to Rs 3,500 crore.
ADVERTISEMENT The issue is set to open for public bidding on May 26 and will be available til May 28. Shareholders can make a bid of a minimum of 63 shares and in multiples of 63 thereof.
Anchor investor bidding will start from May 23, a day before the issue opens for public subscription.
The offer is being made through a book-building process, and the shares of the company are proposed to be listed on the NSE and BSE.The company plans to use the net proceeds from the issue for the repayment or prepayment, in full or in part, of certain outstanding borrowings, funding capital expenditure for the contracted acquisition of the cryogenic LPG terminal in Mangalore, and meeting general corporate requirements.
IIFL Capital, ICICI Securities, Jefferies, HDFC Bank, and BNP Paribas are the book-running lead managers to the issue, while MUFG Intime India is the registrar to the issue.
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Aegis Vopak is the largest Indian third-party owner and operator of tank storage terminals for liquified petroleum gas ('LPG')and liquid products in terms of storage capacity, as of June 30, 2024. The company owns and operate a network of storage tank terminals having an aggregate storage capacity of approximately 1.50 million cubic meters for liquid products and 70,800 metric tons of static capacity for LPG as of June 30, 2024, and offers secure storage facilities and associated infrastructure for liquids such as petroleum, vegetable oil, 172 lubricants, and various categories of chemicals and gases such as LPG (including propane and butane).
ADVERTISEMENT The company has the largest storage capacity in India's LPG tank storage sector, contributing to approximately 12.23% of the total national static capacity, as of June 30, 2024.
Gas Terminal Division – This division is primarily engaged in the storage and handling of LPG, including propane and butane.
Liquid Terminal Division – This division focuses on the storage and handling of liquid products such as petroleum, chemicals, and vegetable oils. It manages over 30 different chemicals across various classes and categories, and also handles more than 10 products within the edible and non-edible oil segments.
Also read: CleanMax Enviro plans Rs 5,000 cr IPO to boost renewable energy growth
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