Latest news with #AegisVopakTerminals
News18
9 hours ago
- Business
- News18
Aegis Vopak Terminals IPO Receives 2.2x Subscription On Day 3, Retail Quota Booked By 0.81x; Check GMP Today
Last Updated: Unlisted shares of Aegis Vopak Terminals Ltd are trading at Rs 236 apiece in the grey market, which is a subdued 0.43% premium or GMP over the IPO price of Rs 235. Aegis Vopak Terminals IPO Day 3: The initial public offering of Aegis Vopak Terminals Ltd has been be closed on Wednesday, May 28. Till 5:00 pm on the final day of bidding on Wednesday, the Rs 2,800-crore IPO received a 2.20 times subscription, garnering bids for 14,43,60,342 shares as against 6,55,31,915 shares on offer. The retail and NII participation stood at 0.81 times and 0.59 times, respectively. Its qualified institutional buyer (QIB) category got a 3.47 times subscription, according to data from exchanges. The IPO was opened for public subscription on Monday, May 26. It received a 27 per cent subscription on Day 1 and a 37 per cent subscription on Day 2. The price band has been fixed in the range of Rs 223-235 apiece. Aegis Vopak Terminals Ltd (AVTL), a joint venture between Aegis Logistics Limited and Royal Vopak, is India's leading third-party owner and operator of tank storage terminals for LPG and liquid products. It has presence over both East and West coasts of India. Aegis Vopak Terminals IPO GMP Today According to market observers, unlisted shares of Aegis Vopak Terminals Ltd are currently trading at Rs 236 apiece in the grey market, which is a subdued 0.43 per cent premium or GMP over the IPO price of Rs 235. It indicates mild listing gains for investors on June 2, the tentative listing date. The shares will be listed on both BSE and NSE. Giving a 'subscribe for long term' rating for the IPO, Bajaj Broking in its IPO note said, 'While the company has demonstrated a strong financial turnaround posting a net profit of Rs 86.54 crore in FY24 after a marginal loss in FY23, the valuation requires careful consideration." Based on FY24 EPS of Rs 1 and a NAV of Rs 13.27, the IPO price band of Rs 223-Rs 235 appears expensive on traditional valuation metrics like price-to-earnings, especially as a meaningful P/E cannot be derived due to the company's recent shift to profitability, it said. 'While the company's strategic importance in India's LPG and liquid bulk infrastructure space justifies a premium to some extent, the pricing seems to factor in strong future growth expectations. Investors should view this IPO as a play on long-term infrastructure and energy logistics growth, but must weigh the premium valuation against the company's limited historical profitability and execution risks in upcoming capex projects," said Bajaj Broking. Another brokerage firm BP Wealth has also granted 'Subscribe' rating to the IPO. 'The company has demonstrated stable financial performance over the last three financial years, aided by its annuity-like business model and long-term customer contracts. The company has managed debt levels, indicating strong financial flexibility to support its expansion plans under project GATI. The company's asset-heavy model and predictable cash flows from storage contracts provide visibility in earnings, making it well-positioned for future growth," it said in its IPO note. The issue is valued at a P/E of 198.0x on the upper price band based on FY25 earnings. 'Therefore, we recommend a SUBSCRIBE rating for the issue," BP Wealth stated. Brokerage firm Ventura also granted 'Subscribe' rating to the IPO. It said, 'At the upper price band of INR 235, the IPO is priced at a TTM P/E of 187.7x. While this valuation appears steep, the company's ongoing LPG capacity expansion and planned future ventures into green ammonia present substantial long-term growth potential. We therefore recommend 'subscribe' to this IPO." Granting 'subscribe for long term' rating to the IPO, Aditya Birla Capital in its note said, 'The company plans to raise Rs 2,800 crore with objective of loan repayment of Rs 2,016 crore and balance for funding expansion capex. At upper price-band of Rs 235, the issue is priced at a ~57x FY25 EV/EBITDA. The aggressive expansion and strong parentage instil confidence in the company, we recommend 'subscribe for long term' to the issue." Risks According to brokerage firms, the IPO faces the following risks: 1) Slowdown in India's oil & gas industry; 2) Damage to assets owing to natural calamities or any other reasons; 3) Non-compliance of safety or legal regulations applicable to the business; and 4) Promoters are involved in similar businesses. Aegis Vopak Terminals has raised Rs 1,260 crore from anchor investors, ahead of its initial share-sale that opens for public subscription. The company is valued at around Rs 26,000 crore at the upper end of the price band. The IPO is entirely a fresh issue of equity shares worth Rs 2,800 crore with no offer-for-sale (OFS) component, according to the red herring prospectus (RHP). Previously, the IPO was planned to raise Rs 3,500 crore. Proceeds worth Rs 2,016 crore will be used for payment of debt, Rs 671.30 crore to fund capital expenditure for the acquisition of a cryogenic LPG terminal at Mangalore and the remaining amount will be allocated for general corporate purposes. Aegis Vopak Terminals owns and operates storage tank terminals across India. These terminals provide secure storage facilities for liquids like petroleum, vegetable oil, lubricants, chemicals, and gases such as LPG, propane, and butane. The strategic location of the company's terminals near key ports, closer to major shipping routes, offers competitive advantages, including faster evacuation through pipelines, rail, and road, lower delivery costs, and improved delivery times. The terminalling industry relies heavily on the strategic location of storage terminals. Terminals near major shipping routes and well-connected ports gain a competitive edge by reducing last-mile delivery costs and ensuring faster delivery times. ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India and HDFC Bank are the book running lead managers to the issue. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! tags : IPO Location : New Delhi, India, India First Published: May 28, 2025, 10:51 IST News business » ipo Aegis Vopak Terminals IPO Receives 2.2x Subscription On Day 3, Retail Quota Booked By 0.81x; Check GMP Today
News18
9 hours ago
- Business
- News18
Leela Hotels IPO Vs Aegis Vopak Terminals IPO: What Does GMP Signal? Check Expectations, Listing Date
Last Updated: Leela Hotels IPO Vs Aegis Vopak Terminals IPO: The two IPOs, which closed on May 28 with a muted response, are going to be listed on both BSE and NSE on Monday, June 2. Aegis Vopak Terminals Ltd, a subsidiary of Aegis Logistics Ltd, and Schloss Bangalore Ltd, the owner of Leela Palaces Hotels and Resorts, are set to make their stock market debuts next week. The two IPOs, which closed on May 28 with a muted response from investors, are going to be listed on both BSE and NSE on Monday, June 2. According to market observers, their grey market premiums (GMP), which indicate listing gain/ loss, are indicating flat or negative listing. The GMP of the Aegis Vopak Terminals IPO on Saturday, May 31, stood at just 0.64% and that of the Leela Hotels IPO at only 0.69%. On the final day of bidding on Wednesday (May 29), the Leela Hotels IPO received a muted 4.72 times subscription, with a bidding of 20,87,17,330 shares against the offered shares of 4,42,52,875. The retail quota was not fully subscribed and received just 0.87 times subscription, while NII participation also remained low at 1.08 times. Its qualified institutional buyer (QIB) category got a 7.82 times subscription. The Aegis Vopak Terminals IPO received a subdued 2.20 times subscription, with a bidding of 14,43,70,359 shares against the offered shares of 6,55,31,915. The retail and NII quotas were not fully subscribed and their participation stood at 0.81 times and 0.59 times, respectively. Its qualified institutional buyer (QIB) category got a 3.47 times subscription. Founded in 1986, Schloss Bangalore is the parent company of the luxury hotel chain 'The Leela' in India, one of the largest luxury hospitality chains in the country in terms of the number of keys. Aegis Vopak Terminals owns and operates storage tank terminals across India. These terminals provide secure storage facilities for liquids like petroleum, vegetable oil, lubricants, chemicals, and gases such as LPG, propane, and butane. The GMPs of both the Leela Hotels IPO and the Aegis Vopak Terminals IPO remain low and are in line with the recent listing trends. Last week, four companies — Borana Weaves, Belrise Industries, Dar Credit and Capital (NSE SME), and Unified Data Tech (BSE SME) — listed on stock exchanges on a weak note. They listed at gains of just 12.5%, 11.11%, 8.58%, and 4.4%, respectively.
Mint
12 hours ago
- Business
- Mint
IPO GMPs: Leela Hotels IPO vs Aegis Vopak Terminals IPO - what grey market premium signals ahead of listing date?
Aegis Vopak Terminals, the provider of storage terminals for LPG and various liquid products, and Schloss Bangalore Ltd, the operator of the luxury hotels brand 'The Leela' in India, are set to make their debut in the Indian stock market next week after a muted response to their initial public offerings (IPO). Aegis Vopak Terminals IPO listing date and Leela Hotels IPO listing date is June 2. The equity shares of Aegis Vopak Terminals and Leela Hotels will be listed on both the stock exchanges - BSE and NSE. Ahead of the IPO listings, investors gauge the trends in the grey market premiums (GMP) of both the shares to evaluate the estimated listing prices. Here's a look at what Aegis Vopak Terminals IPO GMP and Leela Hotels IPO GMP today signals ahead of listing. The trends for Aegis Vopak Terminals shares in the unlisted market remains muted. According to stock market observers, Aegis Vopak Terminals IPO GMP today is just ₹ 1.5 per share. This means that, in the grey market, Aegis Vopak Terminals shares are trading higher by ₹ 1.5 apiece than their issue price. Considering the Aegis Vopak Terminals IPO GMP today, the estimated listing price of Aegis Vopak Terminals IPO shares is ₹ 236.5 apiece, which is at a premium of 0.64% to the IPO price of ₹ 235 per share. Leela Hotels IPO GMP today also remains muted. As per market experts, Leela Hotels IPO GMP today is ₹ 3 per share. This indicates that the estimated listing price of Leela Hotels shares would be ₹ 438 apiece, a premium of 0.69% to the IPO price of ₹ 435 per share. Leela Hotels IPO and Aegis Vopak Terminals IPO failed to generate euphoria in the market and garner massive subscriptions. Leela Hotels IPO was subscribed 4.50 times in total as it received bids for 20.96 crore equity shares as against 4.66 crore shares on the offer. The public issue was subscribed 0.83 times in the retail category, 7.46 times in the Qualified Institutional Buyers (QIB) category, and 1.02 times in the Non Institutional Investors (NII) segment. Aegis Vopak Terminals IPO received even less interest, with an overall subscription of 2.09 times. The public issue subscribed 0.77 times in the retail category, 3.30 times in QIB, and 0.56 times in the NII category. Analysts attribute the subdued response for the two IPOs primarily to high valuations and uncertain market sentiment. Leela Hotels IPO and Aegis Vopak Terminals IPO were open for public subscription from May 26 to May 28. The IPO allotment was finalised on May 29 and both the IPOs will listing on June 2. The ₹ 3,500-crore Leela Hotels IPO comprised a fresh issue of 5.75 crore equity shares worth ₹ 2,500 crore and an offer-for-sale (OFS) of 2.30 crore shares amounting to ₹ 1,000 crore. On the other hand, Aegis Vopak Terminals IPO was a ₹ 2,800 crore offer, entirely consisting of a fresh issue of 11.91 crore shares. Aegis Vopak Terminals IPO price band was fixed at ₹ 235 per share, while Leela Hotels IPO price band was set at ₹ 413 to ₹ 435 per share. Aegis Vopak Terminals is valued at a steep price-to-earnings (P/E) multiple of 235x based on FY24 earnings, significantly higher than the peer average of 42x. The company's price-to-book (P/B) ratio stands at 18x, which is three times the industry average of 6x, indicating a premium valuation. In comparison, the IPO of Leela Hotels is priced at ₹ 435, translating to a P/E of 220.8x based on FY25 projected EPS of ₹ 1.97. While this valuation is more than double the peer average of approximately 98.9x, the price-to-book ratio of 2.92x appears reasonable. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
15 hours ago
- Business
- Mint
Stock market this week: Top gainers and losers you can't afford to ignore
India's Gross Domestic Product (GDP) registered a robust growth of 7.4% in the January–March quarter of the financial year 2024–25, surpassing market expectations and marking the highest quarterly growth in the past year. This strong performance reflects the continued momentum in economic activity, driven by resilient domestic demand, increased government spending, and a steady revival in key sectors such as manufacturing, construction, and services. The manufacturing sector, in particular, witnessed notable growth, supported by improved industrial output and rising capacity utilization. The services sector also maintained its upward trajectory, with increased activity in finance, real estate, and professional services. Additionally, infrastructure development and higher capital expenditure by the government contributed positively to the growth figures. Agriculture, although subject to seasonal variations, remained stable and supported rural consumption. 2. Belrise Industries made a strong debut in the market, getting listed at a premium of 11.11% over its issue price of ₹ 90, reflecting investor confidence and positive market sentiment. Similarly, Borana Weaves was listed at a premium of 12.5% over its issue price of ₹ 216, indicating robust demand and favorable reception. In addition to these listings, several recent Initial Public Offerings (IPOs) witnessed healthy oversubscription levels. The IPO of Aegis Vopak Terminals was oversubscribed by 2.20 times, while Schloss Bangalore saw even stronger interest, being oversubscribed by 4.72 times. These figures suggest strong participation from investors across categories. Notably, the IPO of Prostarm Info garnered exceptional attention with an oversubscription of 96.68 times, marking a significant milestone in terms of demand and investor enthusiasm. Similarly, the IPO of Scoda Tubes Info attracted substantial interest, being oversubscribed by 57.37 times. These oversubscription numbers highlight the high level of interest in the primary market and the growing participation from retail and institutional investors. The successful listings and strong subscription figures reflect an active IPO market and demonstrate investor optimism toward emerging companies across various sectors. The momentum seen in these offerings underscores the ongoing vibrancy in India's capital markets. 3. Several asset management companies have recently launched New Fund Offers (NFOs), adding a diverse range of investment options to the mutual fund landscape. Motilal Oswal AMC introduced the Motilal Oswal Services Growth Direct Plan, aiming to tap into the potential of India's expanding services sector. ICICI AMC launched the ICICI Prudential Nifty200 Quality 30 Index Growth Direct Plan, offering investors an opportunity to invest in a quality-focused index composed of 30 high-ranking companies from the Nifty 200 universe. Nippon India AMC rolled out the Nippon India BSE Sensex Next 30 Index Growth Direct Plan, which aims to capture the performance of the next line of large-cap companies beyond the Sensex 30. Union AMC has launched the Union Income Plus Arbitrage Active FoF Growth Direct Plan, a fund of funds designed to deliver steady returns through arbitrage opportunities, with active allocation strategies. Unifi AMC introduced the Unifi Flexi Cap Growth Direct Plan, a flexible investment approach that spans across large-cap, mid-cap, and small-cap segments to leverage opportunities across market capitalizations. These NFOs reflect a dynamic and evolving market environment where AMCs continue to introduce innovative products to cater to varied investor preferences, focusing on sectoral growth, quality indices, and flexible asset allocation strategies. Index Returns Best Performers Worst Performers Bought and Sold Most Watchlisted Kuvera is a free direct mutual fund investing platform. Unless otherwise stated data sourced from BSE, NSE and kuvera.
Mint
2 days ago
- Business
- Mint
Aegis Vopak Terminals IPO to list on Monday; here's what GMP signals ahead of debut
Aegis Vopak Terminals IPO: Aegis Vopak Terminals IPO: The IPO of Aegis Vopak Terminals, which recently concluded, is set to debut on the Indian stock exchanges on Monday, June 2. The issue received a muted response from all categories of investors during its bidding period between May 26 and May 28, resulting in an overall subscription of 2.2 times. Analysts attribute the weak demand to steep valuations. Based on annualized FY25 earnings, the issue is seeking a P/E of 235 times and an EV/EBITDA of nearly 57 times. For FY24, the P/E stands at 301 times, and the post-issue market capitalization is estimated at ₹ 260,378 million—making the issue appear excessively priced, according to analysts. Given the subdued demand, investor focus has now shifted to potential listing gains, typically gauged by the grey market premium (GMP). According to market sources, the company's shares are expected to debut on Dalal Street at 1% above the IPO price, as the GMP for Aegis Vopak Terminals stood at ₹ 3 per share as of Friday. This suggests that the stock may list at ₹ 238 apiece— ₹ 3 higher than the upper end of the IPO price band of ₹ 235. The mainboard IPO, valued at ₹ 2,800 crore, is entirely a fresh issue of 11.91 crore shares. According to exchange data, the portion reserved for non-institutional investors was subscribed 0.59 times, retail investors 0.81 times, and qualified institutional buyers 3.47 times. The company proposes to utilize the net proceeds from the issue towards repayment or prepayment of all or a portion of certain outstanding borrowings, funding capital expenditure towards the contracted acquisition of the cryogenic LPG terminal at Mangalore, and for general corporate purposes. The company in its DRHP said that it is the largest Indian third-party owner and operator of tank storage terminals for liquefied petroleum gas and liquid products in terms of storage capacity, as of June 30, 2024. It 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 June 30, 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). The company also stated that it 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. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
