Aegis Vopak Terminals IPO Surges Ahead with Promising Start

Aegis Vopak Terminals, a subsidiary of Aegis Logistics Ltd, launched its IPO, gathering a 26% subscription on the first day. This includes a 39% subscription from Qualified Institutional Buyers and 19% from Retail Investors. The company aims to raise Rs 2,800 crore to pay debt and fund capital expenditures.

The highly anticipated initial public offering (IPO) of Aegis Vopak Terminals commenced on a promising note, registering a 26% subscription on its first day.

According to data released by the NSE, the IPO saw bids for 1.77 crores shares against the 6.9 crore shares available for subscription. Notably, the segment reserved for Qualified Institutional Buyers (QIBs) achieved a 39% subscription, while Retail Individual Investors (RIIs) contributed to a 19% subscription rate. Meanwhile, non-institutional investors showed signs of cautious interest with a mere 3% subscription.

In a bid to bolster its operations, Aegis Vopak Terminals has successfully attracted Rs 1,260 crore from anchor investors. The fresh issue of shares, priced between Rs 223 and Rs 235, intends to raise a total of Rs 2,800 crore, aimed primarily at reducing debt and financing the acquisition of a cryogenic LPG terminal at Mangalore, among other corporate objectives.

(With inputs from agencies.)