IPO Overview

Dates of Issue: May 26–28, 2025

The entire new offer of 11.91 crore shares is worth ₹2,800 crore.

Price Band: ₹223 – ₹235 per share

Face Value: ₹10 per share

Lot Size: 63 shares

Retail Investment (min): ₹14,049

Listing Exchanges: NSE & BSE

Tentative Listing Date: June 2, 2025

Allotment Finalization: May 29, 2025

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

Link Intime (MUFG Intime India Pvt Ltd) is the registrar. mint

“Aegis Vopak Terminals IPO snapshot with price band, subscription status and GMP trends”

Subscription Status (As of May 28 – Final Day)

Subscription to OVerall: 38%

51% at retail

QIB: 44 percent

NII: 15%

Note: The numbers of subscriptions show a lackluster reaction, particularly from institutional investors.

Stock market reacts to Aegis Vopak Terminals IPO with mixed investor sentiment”

Grey Market Premium (GMP)

GMP for today: ₹3

GMP for yesterday: ₹5.

Price at IPO: ₹235

₹238 is the implied listing price (a premium of ≈1.3%).

₹238 is the implied listing price (a premium of ≈1.3%).
Business Standard

The diminishing GMP indicates waning market fervor.

Company Overview:

LPG and liquid product storage terminals (such as those for chemicals, petroleum, vegetable oils, and lubricants)

Founded: 2013

Ownership: Aegis Logistics (47.31%) and Vopak India BV (50.1%)

18 storage tank terminals are part of the network in India.

Strategic Locations: Important ports on the east and west coasts that handle large volumes of liquid and LPG imports

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Aegis Vopak Terminals industrial storage infrastructure for LPG and chemicals in India”

Financial Highlights

Revenue for FY24 was ₹561.8 crore, up from FY23’s ₹353.3 crore.

The net profit for FY24 was ₹86.5 crore, whereas the loss for FY23 was ₹0.08 crore.

Debt: ₹2,584 crore as of June 2024

Use of IPO Funds:

Repayment of Debt: ₹2,027.18 crore

The purchase of a cryogenic LPG terminal in Mangaluru will cost ₹671.30 crore.

General Business Uses: Remaining Capital

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Expert Recommendation

“Subscribe for Long-Term,” says Anand Rathi.

Justification: The company exhibits good operational efficiency, with the lowest capital expenditure per metric tonne and high throughput in comparison to peers, despite high valuations (FY25 PE of 235x).

Investment Outlook: Take a Look at Applying If

As a long-term investor, you’re looking to gain exposure to the infrastructure industry.

You have faith in the company’s ability to grow and run efficiently.

Think About Steering Clear of If:

Short-term listing profits are what you’re after.

You are wary of the market’s reaction and the company’s high valuation.

Do you need help creating a watchlist for the June 2 listing day or monitoring the allotment status after May 29?