Latest News | Aegis Vopak Terminals IPO Subscribed 2 Times

New Delhi, May 28 (PTI) The initial public offer of Aegis Vopak Terminals, a subsidiary of Aegis Logistics Ltd, fetched 2.09 times subscription on the closing day of bidding on Wednesday.

The company's initial share sale received bids for 14,43,70,548 shares against 6,90,58,296 shares on offer, as per data available with the NSE.

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The portion for Qualified Institutional Buyers (QIBs) received 3.30 times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 77 per cent while the category for non institutional investors received 56 per cent subscription.

Aegis Vopak Terminals has raised Rs 1,260 crore from anchor investors.

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The issue has a price band of Rs 223-235 per share.

The company is valued at around Rs 26,000 crore at the upper end of the price band.

The IPO is entirely a fresh issue of equity shares worth Rs 2,800 crore with no offer-for-sale (OFS) component, according to the red herring prospectus (RHP).

Proceeds worth Rs 2,016 crore will be used for payment of debt, Rs 671.30 crore to fund capital expenditure for the acquisition of a cryogenic LPG terminal at Mangalore and the remaining amount will be allocated for general corporate purposes.

Aegis Vopak Terminals owns and operates storage tank terminals across India. These terminals provide secure storage facilities for liquids like petroleum, vegetable oil, lubricants, chemicals, and gases such as LPG, propane, and butane.

ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India and HDFC Bank are the book running lead managers to the issue.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)