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Aegis Vopak Terminals IPO
Aegis Vopak Terminals Ltd
₹14,049 /63 sharesMinimum Investment
Aegis Vopak Terminals IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| BSE | ₹235.00 | ₹220.00 | -₹15.00 (6.38%) |
Aegis Vopak Terminals IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 26 May ‘25 - 28 May ‘25 | ₹14,049 | 63 | ₹223 - ₹235 |
| Issue Size | IPO Doc |
|---|---|
| 2800.00Cr | RHP PDF |
Subscription rate
As of 28 May'25, 05:00 PM
| Qualified Institutional Buyers | 3.30x |
| Non-Institutional Investor | 0.56x |
| Retail Individual Investor | 0.74x |
| Total | 2.09x |
About Aegis Vopak Terminals
Founded in
2013
Managing director
Mr Raj Kapurchand Chandaria
Parent organisation
Aegis Vopak Terminals Ltd
Aegis Vopak Terminals Ltd IPO
https://www.youtube.com/watch?v=AX792Bm0CN4
Strengths & Financials of Aegis Vopak Terminals
Strengths
Risks
Aegis Vopak Terminals claims to be the largest third-party owner and operator of tank storage terminals in India for both LPG and liquid products, with a combined storage capacity of approximately 1.50 million cubic metres for liquids and 70,800 metric tonnes (MT) for LPG as of December 31, 2024. The company accounts for about 11.52 percent of India's total LPG static storage capacity and approximately 25.53 percent of India’s third-party liquid storage capacity, as of December 31, 2024.
The company claims to operate a network of strategically located storage terminals across five key Indian ports – Pipavav, Kandla, Haldia, Kochi, and Mangalore. These ports together handle a significant portion of India’s liquid and LPG imports, allowing Aegis Vopak Terminals to leverage geographical advantages for cost-effective distribution.
Aegis Vopak Terminals claims to have a strong track record in expanding its storage capacities and upgrading infrastructure. By leveraging Aegis’ experience in project execution and cost-effective procurement, the company claims it has increased capacity without incurring additional construction risks.
Aegis Vopak Terminals claims to have built strong relationships with a diverse customer base of over 400 clients, including major national oil marketing companies (OMCs) and businesses from various sectors such as traders, manufacturers, fuel marketing companies from both private and public sectors.
Aegis Vopak Terminals claims to have demonstrated consistent financial growth post-acquisition, with strong throughput efficiency metrics. As of December 31, 2024, the company reported one of the highest design throughput turns, with a ratio of 84.75x for its terminals.
Aegis Vopak Terminals has received a credit rating of IND AA/Stable by India Ratings and Research on March 28, 2024, for its term loans, as well as fund and non-fund-based working capital facilities.
A significant portion of the company’s revenue is derived from its liquid terminal division. It accounted for Rs 241.97 crore (68.48 percent) of the company’s total revenue in FY23, Rs 356.46 crore (63.45 percent) in FY24, and Rs 252.34 crore (54.36 percent) in the nine months ended December 31, 2024. Any malfunction or failure of operations in this division could lead to significant financial losses for the company.
The top five customers accounted for Rs 108.59 crore (30.72 percent) of the company’s total revenue in FY23, Rs 198.12 crore (30.72 percent) in FY24, and Rs 159.60 crore (34.38 percent) in the nine months ended December 31, 2024. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients can adversely affect the company’s business and financial standing.
Aegis Vopak Terminals generates a substantial portion of its revenue from its terminals located along the west coast of India. They accounted for Rs 323.88 crore (91.61 percent) of the company’s total revenue in FY23, Rs 518.38 crore (92.28 percent) in FY24, and Rs 430.84 crore (92.82 percent) in the nine months ended December 31, 2024. Any adverse political, social, or economic developments in these regions could significantly impact the company's operations and financial performance.
The company derives a significant portion of its revenue from the oil and gas sector. It accounted for Rs 128.50 crore (36.36 percent) of the company’s total revenue in FY23, Rs 212.42 crore (37.81 percent) in FY24, and Rs 209.14 crore (45.06 percent) in the nine months ended December 31, 2024. Any adverse developments in the sector, such as prolonged reductions in oil prices or a global shift towards alternative energy sources, could reduce the demand for storage services, negatively impacting the company’s revenue and profitability.
The company had total trade receivables amounting to Rs 111.73 crore in the nine months ended December 31, 2024. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
The company, its subsidiaries, promoters, and directors are involved in various ongoing legal proceedings, including criminal and tax-related matters. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of December 31, 2024, the company had contingent liabilities, amounting to Rs 1,410.82 crore. If these contingent liabilities materialise, they could adversely impact the company’s cash flows and financial position.
As of March 31, 2025, Aegis Vopak Terminals had outstanding financial indebtedness of Rs 2,474.17 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
Aegis Vopak Terminals Financials
*All values are in Rs. Cr
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Application Details of Aegis Vopak Terminals IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹223 - 235 | ₹2 Lakh |
| High Networth Individual | ₹223 - 235 | ₹2 - 5 Lakh |
For Aegis Vopak Terminals IPO, eligible investors can apply as Regular.