Aegis Vopak Terminals Makes Subdued Market Debut

Aegis Vopak Terminals Ltd, a subsidiary of Aegis Logistics, had a muted stock market debut, listing at a 6% discount to its issue price. The IPO fetched 2.09 times subscription, raising Rs 2,800 crore, with significant portions earmarked for debt repayment and significant infrastructure investments.

Aegis Vopak Terminals Ltd, a subsidiary of Aegis Logistics, saw its stock list at a 6.38% discount from the issue price, debuting at Rs 220 on the BSE, a lower opening than anticipated.

The IPO, which was oversubscribed 2.09 times, was a fresh issue valued at Rs 2,800 crore. Company plans to utilize Rs 2,016 crore for debt repayment, with Rs 671.30 crore earmarked for the acquisition of a cryogenic LPG terminal at Mangalore.

Aegis Vopak Terminals manages storage tank facilities across India, providing secure storage for various liquids and gases. The company's market valuation is pegged at Rs 26,059.96 crore based on current trading.

(With inputs from agencies.)