Aegis Vopak Terminals has received the final observations from the Securities and Exchange Board of India (Sebi), allowing them to raise ₹3,500 crore through an initial public offering (IPO). The public issue is entirely a fresh issuance of equity shares with a face value of ₹10 apiece from Aegis Vopak Terminals, amounting to ₹3,500 crore. The company had filed the Draft red herrring prospectus (DRHP) for an IPO with Sebi in November 2024. The shares proposed through the DRHP will list on both BSE and National Stock Exchange (NSE).
Here are the key details of Aegis Vopak Terminals IPO:
Aegis Vopak Terminals IPO objective
According to the DRHP, the company aims to utilise the net fresh issue proceeds for repayment or prepayment of all or a portion of certain outstanding borrowings, funding capital expenditure for contracted acquisition of the cryogenic LPG terminal at Mangalore and general corporate purposes.
Aegis Vopak Terminals IPO registrar, lead manager
MUFG Intime India, previously known as Link Intime India, is the registrar of the public issue. ICICI Securities, BNP Paribas, HFL Capital Services, Jefferies India and HDFC Bank are the book-running lead managers.
About Aegis Vopak Terminals
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 operates a network of storage tank terminals with an aggregate storage capacity of around 1.5 million cubic meters for liquid products and 70,800 metric tonnes (MT) of static capacity for LPD as of June 30, 2024. It offers 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).
Aegis Vopak Terminals financial overview
For the June 2024 quarter (Q1 FY25), Aegis Vopak Terminals reported a total revenue of ₹156.37 crore, up 34.7 per cent from ₹1116.04 crore in the year-ago period. Net profit for the quarter stood at ₹10.77 crore, up 185.5 per cent from ₹3.77 crore in Q1 FY24.
In FY24, the company posted a total revenue of ₹570.12 crore, up 60 per cent from ₹355.99 crore in the previous financial year (FY23). The company’s net profit stood at ₹86.54 crore against the loss of ₹7.5 lakh in FY23.