Aegis Vopak Terminals IPO: Major Investment Opportunity

Aegis Vopak Terminals' IPO, a subsidiary of Aegis Logistics Ltd, attained 35% subscription on the second bidding day. A total of 2,39,09,949 shares were bid against 6,90,58,296 on offer. Retail investors subscribed 44%, Qualified Institutional Buyers 43%, and non-institutional 12%. The IPO will raise Rs 2,800 crore for various purposes.

Aegis Vopak Terminals, a subsidiary of Aegis Logistics Limited, is witnessing considerable interest as its initial public offering (IPO) drew 35% subscription by the second day of bidding. The IPO's opening day garnered bids for 2,39,09,949 shares, out of a total of 6,90,58,296 shares available, according to data released by the NSE.

Different investor categories showed varying levels of participation: Retail Individual Investors subscribed to 44%, Qualified Institutional Buyers to 43%, and non-institutional investors to 12% of their respective portions. The public offering, aiming to raise Rs 2,800 crore, will conclude on Wednesday, with the company valued at approximately Rs 26,000 crore at the high end of the price range. Notably, the IPO does not include an offer-for-sale (OFS) component.

The funds amassed will significantly bolster Aegis Vopak Terminals' capabilities. An estimated Rs 2,016 crore will address existing debts, with Rs 671.30 crore allocated for acquiring a cryogenic LPG terminal in Mangalore, and the remainder directed at general corporate endeavors. The IPO is managed by a consortium of firms including ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India, and HDFC Bank.

(With inputs from agencies.)