Aegis Vopak Terminals Ltd, a major player in India’s energy infrastructure sector, has secured ₹1,260 crore from top anchor investors just days before launching its highly anticipated IPO. The public issue opens on May 26 and will close on May 28.
Anchor Investors and IPO Snapshot
According to a regulatory filing with the BSE, the company allotted 5.36 crore shares to 32 anchor investors at ₹235 per share — the upper end of the price band. Key participants included HDFC Mutual Fund, American Funds Insurance, Smallcap World Fund, SBI General Insurance, Motilal Oswal, and 360 One.
The IPO will be a fresh issue totaling ₹2,800 crore, with no offer-for-sale component. The price band is set between ₹223 and ₹235 per share, and investors can bid for a minimum of 63 shares per lot. At the upper price, the company is valued at around ₹26,000 crore.
| IPO Size | ₹2,800 crore (fresh issue) |
|---|---|
| Price Band | ₹223 – ₹235 |
| Lot Size | 63 shares and multiples thereof |
| Anchor Bidding Date | May 23 |
| IPO Dates | May 26 – May 28 |
| Listing Date | Expected on June 2 |
| GMP (as of now) | ₹0 |
Utilization of Proceeds and Strategic Position
Per the Red Herring Prospectus (RHP), the IPO proceeds will be primarily used to reduce debt — ₹2,016 crore will go toward loan repayments. Additionally, ₹671.3 crore is earmarked for capital expenditures, notably the purchase of a cryogenic LPG terminal in Mangalore. The balance will fund general corporate purposes.
As of June 2024, Aegis Vopak had total borrowings of ₹2,584 crore, underscoring the significance of this fundraising for its balance sheet health and long-term strategy.
Meanwhile, the company continues to strengthen its role in the terminalling ecosystem. It manages storage infrastructure for petroleum, chemicals, vegetable oils, lubricants, and gases such as LPG, propane, and butane. What makes Aegis Vopak stand out is the prime location of its terminals — near major ports and transport corridors — enabling cost-efficient, multi-modal distribution.
This logistical edge, combined with the rising demand for energy storage, makes Aegis Vopak well-positioned to benefit from ongoing market trends and supply chain transformation.
Key Takeaway
The IPO is being led by experienced book-running managers — ICICI Securities, BNP Paribas, Jefferies India, IIFL Capital Services, and HDFC Bank — signaling confidence in the offering. Although there is currently no grey market premium (GMP), investor interest remains robust due to the company’s strategic assets and industry tailwinds.
For updates and further details, visit the official BSE site at bseindia.com.