Upcoming IPO: Aegis Vopak Terminals Limited Gets SEBI Nod For ₹3500 crore IPO

Aegis Vopak Terminals has received SEBI approval to launch ₹3500 crore IPO. The Gujarat-based company filed its DRHP (Draft Red Herring Prospectus) on November 18, 2024. 

IPO Structure and Details

• The IPO comprises a fresh issue of equity shares worth ₹3,500 crore. There is no offer-for-sale component.

• The equity shares are proposed to be listed on both the BSE and NSE.
• The book-running lead managers for the IPO are ICICI Securities Limited, BNP Paribas, IIFL Capital Services Limited, Jefferies India Private Limited, and HDFC Bank Limited. 
• The company may consider a pre-IPO placement for up to ₹700 crore before filing the Red Herring Prospectus (RHP) with the Registrar of Companies (RoC).

Utilisation of Funds

The Net Proceeds from the Issue are proposed to be utilised for the following purposes:

• To repay or prepay outstanding borrowings 
• To fund the planned acquisition of a contracted cryogenic LPG terminal located in Mangalore
• To support the Company’s ongoing operational needs. 

Financial performance

For the year ended March 31, 2024, the company’s revenue from operations stood at ₹561.76 crores, up 59% from ₹353.33 crores in the previous year.

Company Profile 

Aegis Vopak Terminal owns and manages a network of storage tank terminals with a total storage capacity of approximately 1.50 million cubic meters for liquid products and 70,800 metric tons of static capacity for LPG.

In terms of storage capacity, the company is the largest Indian third-party owner and operator of tank storage terminals for liquefied petroleum gas (LPG) and liquid products. 

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