Aegis Vopak IPO Day 1: Check subscription status, GMP, allotment date & more
Aegis Vopak Terminals is selling its shares in the price band of Rs 413-435, which could be applied for a minimum of 34 shares and its multiples to raise a total of Rs 3,500 crore between May 26-28.
- May 26, 2025,
- Updated May 26, 2025 1:21 PM IST
The initial public offering (IPO) of Aegis Vopak Terminals was off to day muted bidding from the investors during the first day of the bidding process from all the categories of the investors. The issue, which kicked off on Monday, May 26, shall close for bidding on Wednesday, May 28.
Aegis Vopak Terminals is selling its shares in the price band of Rs 223-235 apiece. Investors can apply for a minimum of 63 shares and its multiples thereafter. It is looking to raise Rs 2,800 crore via IPO, which is entirely a fresh share sale of up to 11,91,48,936 equity shares.
According to the data, the investors made bids for 44,84,970 equity shares, or 06 per cent, compared to the 6,90,58,296 equity shares offered for the subscription by 1.10 pm on Monday, May 26, 2025. The bidding for the issue shall continue for three-days.
The allocation for retail investors was subscribed 13 per cent, while the portion reserved for non-institutional investors (NIIs) saw a subscription of only one per cent. However, the quota set aside for qualified institutional bidders (QIBs) was booked 07 per cent as of the same time.
Incorporated in 2013, Aegis Vopak Terminals (AVTL) is a company that owns and operates storage terminals for liquefied petroleum gas (LPG) and various liquid products. It provides safe storage and related infrastructure for products like petroleum, vegetable oils, lubricants, chemicals, and gases such as propane and butane.
The grey market premium (GMP) of Aegis Vopak Terminals has remained seen a correction amid the muted bidding for the issue. Last heard, the company was commanding a premium of Rs 10 per share in the unofficial market, suggesting a 4-5 per cent listing gains for the investors. The GMP stood around Rs 15 before the issue kicked-off.
Analysts mostly have a positive view on this issue. Strong parentage, strong growth in infra in the coming years, robust financial growth, long-term relationship with clients and diversified clientele are the key positives for this issue. Aggressive pricing, geographical concentration in West India and high debt are the major concerns.
Aegis Terminals is India’s leading independent third-party storage player for LPG and liquid bulk products, with strategically located terminals across key coastal hubs Mumbai, Haldia, Kochi, and Pipavav. It plays a vital role in India’s energy and chemical logistics landscape, especially amid rising LPG demand and industrial growth, said Mahesh Ojha, AVP Research at Hensex Securities.
"While valuations appear stretched with an EV/Ebitda of 57 times , the company’s strong parentage, mission-critical infrastructure, and focus on clean energy transition justify a ‘subscribe for long-term' view," he said.
For the nine-months ended on December 31, 2024, Aegis Vopak reported a net profit of Rs 85.89 crore with a revenue of Rs 476.15 crore. The company clocked a net profit of Rs 86.54 crore with a revenue of Rs 570.12 crore for the financial year 2023-24. Aegis Vopak Terminals shall command a market capitalization of IPO is Rs 26,737.80 crore.
Aegis Vopak mobilised Rs 1,260 crore from anchor investors as it allocated 5.36 crore shares at a price of Rs 235 apiece. Aegis Vopak has reserved 75 per cent of the net issue for the qualified institutional bidders (QIBs), while non-instructional investors (NIIs) will have 15 per cent of the allocation in the issue. Retail investors will have 10 per cent for the allocation in this IPO.
Investors with a moderate to high risk appetite and a long-term horizon should consider subscribing. AVTL offers a unique opportunity to invest in a market-leading infrastructure company with strong fundamentals, strategic growth plans, and industry tailwinds, said Gaurav Garg from Lemonn Markets Desk.
"While the high valuation limits near-term upside and listing day returns may be subdued, the medium-to-long-term growth story remains intact. As the new terminals come online starting FY26, profitability and cash flow are expected to improve, potentially driving meaningful value creation over a 2–3 year period," he said.
ICICI Securities, BNP Paribas, IIFL Securities, Jefferies India, HDFC Bank are the book running lead managers of the Aegis Vopak Terminals IPO, while MUFG Intime India (Link Intime) is the registrar for the issue. Shares of the company shall be listed on Monday, June 2 on both BSE and NSE. Shares of the company shall be listed on both BSE and NSE.
The initial public offering (IPO) of Aegis Vopak Terminals was off to day muted bidding from the investors during the first day of the bidding process from all the categories of the investors. The issue, which kicked off on Monday, May 26, shall close for bidding on Wednesday, May 28.
Aegis Vopak Terminals is selling its shares in the price band of Rs 223-235 apiece. Investors can apply for a minimum of 63 shares and its multiples thereafter. It is looking to raise Rs 2,800 crore via IPO, which is entirely a fresh share sale of up to 11,91,48,936 equity shares.
According to the data, the investors made bids for 44,84,970 equity shares, or 06 per cent, compared to the 6,90,58,296 equity shares offered for the subscription by 1.10 pm on Monday, May 26, 2025. The bidding for the issue shall continue for three-days.
The allocation for retail investors was subscribed 13 per cent, while the portion reserved for non-institutional investors (NIIs) saw a subscription of only one per cent. However, the quota set aside for qualified institutional bidders (QIBs) was booked 07 per cent as of the same time.
Incorporated in 2013, Aegis Vopak Terminals (AVTL) is a company that owns and operates storage terminals for liquefied petroleum gas (LPG) and various liquid products. It provides safe storage and related infrastructure for products like petroleum, vegetable oils, lubricants, chemicals, and gases such as propane and butane.
The grey market premium (GMP) of Aegis Vopak Terminals has remained seen a correction amid the muted bidding for the issue. Last heard, the company was commanding a premium of Rs 10 per share in the unofficial market, suggesting a 4-5 per cent listing gains for the investors. The GMP stood around Rs 15 before the issue kicked-off.
Analysts mostly have a positive view on this issue. Strong parentage, strong growth in infra in the coming years, robust financial growth, long-term relationship with clients and diversified clientele are the key positives for this issue. Aggressive pricing, geographical concentration in West India and high debt are the major concerns.
Aegis Terminals is India’s leading independent third-party storage player for LPG and liquid bulk products, with strategically located terminals across key coastal hubs Mumbai, Haldia, Kochi, and Pipavav. It plays a vital role in India’s energy and chemical logistics landscape, especially amid rising LPG demand and industrial growth, said Mahesh Ojha, AVP Research at Hensex Securities.
"While valuations appear stretched with an EV/Ebitda of 57 times , the company’s strong parentage, mission-critical infrastructure, and focus on clean energy transition justify a ‘subscribe for long-term' view," he said.
For the nine-months ended on December 31, 2024, Aegis Vopak reported a net profit of Rs 85.89 crore with a revenue of Rs 476.15 crore. The company clocked a net profit of Rs 86.54 crore with a revenue of Rs 570.12 crore for the financial year 2023-24. Aegis Vopak Terminals shall command a market capitalization of IPO is Rs 26,737.80 crore.
Aegis Vopak mobilised Rs 1,260 crore from anchor investors as it allocated 5.36 crore shares at a price of Rs 235 apiece. Aegis Vopak has reserved 75 per cent of the net issue for the qualified institutional bidders (QIBs), while non-instructional investors (NIIs) will have 15 per cent of the allocation in the issue. Retail investors will have 10 per cent for the allocation in this IPO.
Investors with a moderate to high risk appetite and a long-term horizon should consider subscribing. AVTL offers a unique opportunity to invest in a market-leading infrastructure company with strong fundamentals, strategic growth plans, and industry tailwinds, said Gaurav Garg from Lemonn Markets Desk.
"While the high valuation limits near-term upside and listing day returns may be subdued, the medium-to-long-term growth story remains intact. As the new terminals come online starting FY26, profitability and cash flow are expected to improve, potentially driving meaningful value creation over a 2–3 year period," he said.
ICICI Securities, BNP Paribas, IIFL Securities, Jefferies India, HDFC Bank are the book running lead managers of the Aegis Vopak Terminals IPO, while MUFG Intime India (Link Intime) is the registrar for the issue. Shares of the company shall be listed on Monday, June 2 on both BSE and NSE. Shares of the company shall be listed on both BSE and NSE.