Aegis Vopak Terminals Limited IPO Set to Launch on May 26 with Rs 2,800 Crore Offering

Aegis Vopak Terminals Ltd (“AVTL” or “The Company”) will start its Bid / Offer for an initial public offer of Equity Shares on Monday, May 26, 2025. The Anchor Investor Bidding Date will be on Friday, May 23, 2025. The Bid/Offer will open for subscription on May 26, 2025, and will close on May 28, 2025. The Price Band for the Offer is set between ₹ 223 and ₹ 235 per Equity Share. Bids can be made for a minimum of 63 Equity Shares and in multiples of 63 thereafter. 

The total size of the offer consists of equity shares with a face value of ₹ 10 each, amounting to up to ₹ 28,000 million (₹ 2,800 crore), and includes only fresh equity shares. The company plans to use the proceeds from this issue for the following purposes: (i) Repaying or prepaying part of its outstanding borrowings, estimated at ₹ 20,159. 5 million (₹ 2,015. 95 crore); (ii) Funding capital expenditure for acquiring a cryogenic LPG terminal in Mangalore, estimated at ₹ 6,713 million (₹ 671. 30 crore); and the remaining funds for general corporate purposes.

The Equity Shares are being offered through the "Red Herring Prospectus" dated May 20, 2025, filed with the Registrar of Companies in Gujarat at Ahmedabad and will be listed on the BSE Limited and the National Stock Exchange of India Limited. This issue is conducted according to Rule 19(2) (b) of the SCRR, along with Regulation 31 of the SEBI ICDR Regulations. It will follow the Book Building Process per Regulation 6(2) of the SEBI ICDR Regulations, where at least 75% of the Issue will be allocated proportionally to Qualified Institutional Buyers (QIBs). The Company can allocate up to 60% of the QIB Portion to Anchor Investors at its discretion, reserving one-third of that for domestic Mutual Funds, under the condition that valid Bids are received.

If there is under-subscription or no allocation in the Anchor Investor Portion, the remaining Equity Shares will be added to the QIB Category (excluding the Anchor Investor Portion) termed as the “Net QIB Portion”. Moreover, 5% of the Net QIB Portion will be allocated proportionally to Mutual Funds, while the rest will be available for all QIB bidders, including Mutual Funds, as long as valid Bids are at or above the Issue Price. If QIBs cannot allocate at least 75% of the Issue, the application money will be refunded. If the demand from Mutual Funds is less than 5% of the Net QIB Portion, the remaining shares for Mutual Funds will go into the Net QIB Portion.

Not more than 15% of the Issue will be for Non-Institutional Bidders (NIBs), with one-third reserved for applications between ₹200,000 and ₹1,000,000, and two-thirds for amounts over ₹1,000,000. Unsubscribed portions can be reallocated. Additionally, up to 10% of the Issue will be for Retail Individual Bidders (RIBs) if valid Bids are received.

All Bidders, except Anchor Investors, must use the ASBA process to block their Bid Amount with Self Certified Syndicate Banks or Sponsor Banks. Anchor Investors cannot use ASBA. The Book Running Lead Managers for the offer are ICICI Securities Limited, BNP Paribas, IIFL Capital Services Limited, Jefferies India Private Limited, and HDFC Bank. All capitalized terms are defined in the RHP.