DK Business Network
In a significant development for the Indian capital markets, Aegis Vopak Terminals Limited’s initial public offering (IPO) has garnered substantial interest from institutional investors. The ₹2,800 crore IPO, which opened for subscription recently, received an overall subscription of 2.09 times.
Strong Institutional Interest
The Qualified Institutional Buyers (QIB) portion of the IPO was subscribed 3.30 times, indicating strong demand from institutional investors. However, the response from Non-Institutional Investors and Retail Investors was relatively muted, with subscription rates of 0.56 times and 0.77 times, respectively.
Use of Proceeds
The funds raised through the IPO will be utilized for repayment of borrowings, acquisition of a cryogenic LPG terminal in Mangalore, and general corporate purposes. Aegis Vopak Terminals Limited, a joint venture between Aegis Logistics and Royal Vopak, operates liquid and LPG storage terminals across India.
Legal Advisors
AZB & Partners and Cyril Amarchand Mangaldas (CAM) served as legal advisors to the company and the Book Running Lead Managers (BRLMs), respectively. The CAM advisory team was led by senior partners Mr. Manan Lahoty, Mr. Ravi Dubey, and Mr. Abhyuday Bhotika, who were supported by a team of associates.
Future Outlook
The strong institutional demand for Aegis Vopak Terminals Limited’s IPO reflects the market’s confidence in the company’s growth prospects. With its strategic plans for expansion and debt repayment, the company is poised for further growth in the Indian logistics sector.
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