Aegis Vopak Terminals IPO - Listing Performance & Details

Aegis Vopak Terminals Limited was incorporated in 2013 and is headquartered in Mumbai, Maharashtra. It works in the tank storage and terminal infrastructure sector for liquefied petroleum gas (LPG) and liquid products.

The company owns and operates storage tank terminals for LPG and liquid products such as petroleum, vegetable oils, lubricants, and various chemicals, through two divisions: a Gas Terminal Division for LPG including propane and butane, and a Liquid Terminal Division for petroleum, chemicals, and edible and non-edible oils. As of June 30, 2024, it managed an aggregate storage capacity of around 1.5 million cubic metres for liquid products and 70,800 metric tonnes for LPG, operating terminals across five ports on India's west coast, including Kandla and Pipavav, and serving more than 400 customers including oil marketing companies. The company is a joint venture between Aegis Logistics Limited and Vopak India B.V., part of the Netherlands-based Royal Vopak group, with Raj K. Chandaria as Managing Director and Chairman.

Revenue rose from Rs 355.99 crore in FY23 to Rs 570.12 crore in FY24, while the company moved from a near break-even loss in FY23 to a net profit of Rs 86.54 crore in FY24. The IPO was a mainboard, book-built issue entirely comprising a fresh issue of equity shares aggregating up to Rs 2,800 crore, at a price band of Rs 223 to Rs 235 per share, listed on the BSE and NSE. As per the RHP, net proceeds were proposed to be used for repayment or prepayment of certain outstanding borrowings, funding capital expenditure for the contracted acquisition of a cryogenic LPG terminal at Mangalore, and general corporate purposes.