Leela Hotels, Aegis Vopak Terminals: Check latest GMP ahead of listing today

Dalal Street is set to witness two listings including Aegis Vopak Terminals and Schloss Bangalore, the parent company of the  Leela Hotels later today. However, if one goes by the current grey market trends, both the contenders for stock market debut are likely to have a more or less flat listing, if one goes by the current grey market signals.

Last heard, shares of Schloss Bangalore were commanding a grey market premium (GMPs) of Rs 2 per shares, while the Aegis Vopak Terminals exchanged hands at Rs 1.5 apiece. This signal that both the companies are headed for the soft landing considering their miniscule premia in the unofficial market.

Both the IPOs were open for bidding between May 26-28 where they cumulatively raised a total of Rs 6,300 crore via their primary stake sale. However, both issues received a muted response from the investors during the three-day bidding process as Schloss Bangalore was booked 4.50 times and Aegis Vopak was subscribed 2.09 times.

Schloss Bangalore sold its shares in the price band of Rs 413-435 per share with a lot size of 34 shares. The company raised a total of Rs 3,500 crore via IPO, which included a fresh share sale of Rs 2,500 crore and offer-for-sale (OFS) of up to 2,29,88,505 equity shares worth Rs 1,000 crore.

Schloss Bangalore is one of India's largest luxury hospitality companies by number of keys, with a portfolio of 12 operational hotels comprising 3,382 keys, as of May 31, 2024. Its portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts. It operates through direct ownership and hotel management agreements with third-party owners.

JM Financial, JP Morgan India, BofA Securities India, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, IIFL Securities, Motilal Oswal Investment Advisors, SBI Capital Markets are the book running lead managers of the Leela Hotels IPO, while Kfin Technologies is the registrar for the issue.

Aegis Vopak Terminals offered its shares in the price band of Rs 223-235 per share with a lot size of 63 shares. It a total of Rs 2,800 crore from its IPO, which was entirely a fresh share sale of 11,91,48,936 equity shares. Shares of both companies shall be listed on both BSE and NSE.

Incorporated in 2013, Vapi,Gujarat-based Aegis Vopak Terminals 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.

ICICI Securities, BNP Paribas, IIFL Capital Services, 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.