Aegis Vopak Terminals Acquires Rs.1,260 Crore Ahead of IPO
Anchor investors have contributed Rs.1,260 crore to Aegis Vopak Terminals, a division of Aegis Logistics Ltd., in advance of the company's IPO, which goes live for public subscription next week.
At a maximum price of Rs.35 per equity share, Aegis Vopak Terminals has distributed 5,36,17,021 equity shares to 32 funds.
The total amount of the deal is Rs.1,260 crore.
Among the anchor investors in the Aegis Vopak Terminals IPO are American Funds Insurance, HDFC Mutual Fund, Smallcap World Fund, 360 One, Motilal Oswal, SBI General Insurance, and Think India, per a circular posted on the BSE website on Friday.
Subscriptions for the Aegis Vopak Terminals IPO will go live on Monday, May 26, and end on Wednesday, May 28.
It is anticipated that the IPO listing date would be June 2 and the IPO allocation date will probably be May 29. The BSE and NSE will list the company's shares.
The IPO pricing range for Aegis Vopak Terminals is Rs.223 to Rs.235 per share.
The business intends to raise Rs.2,800 crore at the upper end of the price range through the book-building issue, which is a completely new offering of 11.91 crore equity shares.
At the top end of the pricing range, the company is worth about Rs.26,000 crore.
The company intends to use Rs.2,016 crore of the proceeds from the new issue to pay down debt, Rs.671.30 crore to finance a capital investment for the purchase of a cryogenic LPG terminal in Mangalore, and the rest sum will be used for general business needs.
The IPO registrant is MUFG Intime India Private Limited (Link Intime), and the book running lead managers for the Aegis Vopak Terminals IPO are ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India, and HDFC Bank.
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Storage tank terminals are owned and run by Aegis Vopak Terminals throughout India. These terminals offer safe storage spaces for gases like LPG, propane, and butane as well as liquids like petroleum, vegetable oil, lubricants, and chemicals.