Aegis Vopak Terminals IPO Subscription Status: The initial public offering (IPO) of Aegis Vopak Terminals Ltd—a joint venture between Aegis Logistics and Vopak India BV—garnered a 30 per cent subscription on the second day of the bidding process, Tuesday, May 26.
According to data from the BSE, the IPO received bids for 2,05,04,358 shares against the total offer of 6,90,58,296 shares.
The Qualified Institutional Buyers (QIBs) segment saw a subscription of 39 per cent, while the Retail Individual Investors (RIIs) category was subscribed to 35 per cent. The portion reserved for Non-Institutional Investors (NIIs) witnessed a 7 per cent subscription.
Ahead of the IPO opening, the company has raised Rs 1,260 crore from anchor investors.
The public issue, which is entirely a fresh offering of equity shares worth Rs 2,800 crore. The company has fixed the price band between Rs 223 and Rs 235/share.
The IPO is being managed by ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India, and HDFC Bank, who are serving as the book-running lead managers.
The proceeds from the issue will be primarily used to repay debt amounting to Rs 2,016 crore. The offer is scheduled to close on May 28.
Additionally, Rs 671.3 crore has been earmarked for capital expenditure related to the acquisition of a cryogenic LPG terminal in Mangalore, and the remaining funds are allocated for general corporate purposes.
What does Aegis Vopak Terminals do?
Aegis Vopak Terminals operates storage tank terminals across India, offering secure storage solutions for a range of products, including petroleum, vegetable oils, lubricants, chemicals, and gases such as LPG, propane, and butane.
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- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
- ANURAG DHOLEhttps://indiatadkha.com/author/bitlancetechhubgmail-com/
