Aegis Vopak Terminals Set for Rs 2,800-Crore IPO

Aegis Vopak Terminals announces a price band of Rs 223 to Rs 235 per share for its Rs 2,800-crore IPO. The IPO will open from May 26-28, aiming to use proceeds to pay debt, fund capital expenditure, and for corporate purposes. The storage firm has strategic advantages due to its terminal locations in India.

Aegis Vopak Terminals, a segment of Aegis Logistics Ltd, has revealed a pricing range for its Rs 2,800-crore initial public offering (IPO), set at Rs 223 to Rs 235 per share.

The IPO, exclusively a fresh issue of equity shares, will accept bids from May 26 to May 28, with anchor investors bidding on May 23. Most of the proceeds aim to settle debts and fund a new cryogenic LPG terminal in Mangalore.

Aegis Vopak, with terminals near key Indian ports, boasts competitive advantages in storage and transportation for liquids and gases. The strategic placement facilitates cost-effective and timely delivery, a cornerstone of the terminalling industry.

(With inputs from agencies.)