Aegis Vopak Terminals Ltd (AVTL) on Wednesday announced a price band of ₹223 to ₹235 per equity share for its upcoming Initial Public Offering (IPO). The public subscription for the ₹2,800 crore issue, which consists entirely of a fresh issue of equity shares, will open on May 26 and close on May 28, 2025.
Anchor investor bidding is slated to commence on May 23, 2025, a crucial step ahead of the main subscription period.
AVTL intends to strategically use IPO proceeds for debt repayment, funding capital expenditure for the contracted acquisition of a cryogenic LPG terminal in Mangalore, and addressing general corporate requirements.
The IPO is being managed by a consortium of prominent financial institutions, with ICICI Securities, BNP Paribas, IIFL Capital, Jefferies India, and HDFC Bank acting as the lead managers for the issue.
About Aegis Vopak Terminals Ltd
As of December 31, 2024, Aegis Vopak Terminals Limited stands as India’s largest third-party owner and operator of tank storage terminals for liquified petroleum gas (LPG) and various liquid products, based on storage capacity.
The company boasts the largest storage capacity in India’s LPG tank storage sector, contributing approximately 11.50 per cent of the nation’s total static capacity as of the same date.
AVTL currently operates a robust network of terminals across India. This includes two dedicated LPG storage terminals situated at two Indian ports, alongside 18 liquid storage terminals spread across six Indian ports. These facilities are instrumental in facilitating both coastal movement of goods and international import and export operations.