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Aegis Vopak Terminals IPO Day 2 update: Subscription lags at 29%, GMP up 4%
Aegis Vopak Terminals IPO subscription status Day 2: The initial public offering of Aegis Vopak Terminals, which opened for subscription on Monday, May 26, 2025, has received a muted response from investors. The NSE data shows that the ₹2,800 crore offering of Aegis Vopak Terminals received bids for 2,01,66,300 shares, against 6,90,58,296 shares on offer, resulting in subscription of only 29 per cent by 12:40 PM on Tuesday, May 28.
Among the industrial categories, Qualified Institutional Buyers (QIBs) led the demand by subscribing to the portion reserved for them by 39 per cent. This was followed by retail investors, who bid for 33 per cent, and Non-Institutional Investors (NIIs) at a mere 6 per cent.
Aegis Vopak Terminals IPO GMP
According to sources tracking unofficial markets, the unlisted shares of Aegis Vopak were trading at ₹246, commanding a GMP of ₹11 or 4.68 per cent against the upper band price of ₹235, on Tuesday, in the grey market.
Aegis Vopak Terminals IPO details
The company plans to raise ₹2,800 crore through a fresh issue of 119.1 million equity shares. There is no offer-for-sale (OFS) component. The mainline IPO will close for subscription on Wednesday, May 28, 2025. The basis of the allotment of shares is expected to be finalised on or before Thursday, May 29, 2025. Shares of Aegis Vopak are scheduled to be listed on both exchanges, NSE and BSE, tentatively on Monday, June 2, 2025. ALSO READ |
The company has set the price band in the range of ₹223 to ₹235 per equity share. Retail investors can bid for a minimum of one lot consisting of 63 shares with an investment amount of ₹14,049.
MUFG Intime India is the registrar of the issue. ICICI Securities, BN Paribas, IIFL Securities, Jefferies India, and HDFC Bank are the book-running lead managers for the issue.
According to the red herring prospectus (RHP), the company plans to use the net issue proceeds for repayment or prepayment of all or a portion of outstanding borrowings, funding capex towards the contracted acquisition of cryogenic LPG terminal at Mangalore and general corporate purposes.
About Aegis Vopak Terminals
Incorporated in 2020, Aegis Vopak Terminals is a joint venture between Aegis Logistics and Vopak India BV (part of Royal Vopak, a Netherlands-based leading global tank storage company). It is the largest India third-party owner and operator of tank storage terminals for liquified petroleum gas (LPG) and limited products in terms of storage capacity, as of December 31, 2024.
The company owns and operates 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 (MT) of static capacity for LPG as of December 31, 2024, and offers secure storage facilities and associated infrastructure for liquids such as petroleum, vegetable oil,
lubricants, and various categories of chemicals and gases such as LPG (including propane and butane).
As of December 31, 2024, the company holds the largest storage capacity in India's LPG tank storage sector, accounting for approximately 11.50 per cent of the country's total static LPG capacity.
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