Aegis Vopak Terminals IPO: Institutional investors buy Rs 1,260 crore via anchor book

Aegis Vopak Terminals IPO

Aegis Vopak Terminals that owns and operates storage terminals for liquefied petroleum gas has mobilised Rs 1,260 crore via anchor book on May 23, a day before the IPO opening.

The IPO, which will open for public subscription on May 26 till May 28, consists of entirely fresh issue of shares worth Rs 2,800 crore with no offer-for-sale component.

The Mumbai-based company in its filing on Friday said it has finalised allocation of 5.36 crore equity shares to anchor investors at a price of Rs 235 per share.

SmallCap World Fund, American Funds, Aberdeen, Government Pension Fund Global, Nomura Trust, Tocu Europe, and Goldman Sachs were among global investors becoming shareholder in the company through anchor book.

Domestic institutional investors like HDFC Mutual Fund, 360 ONE Special Opportunities Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund, SBI General Insurance Company, Baroda BNP Paribas MF, and ITI Mutual Fund also invested in the company.

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"Out of the total allocation of 5.36 crore equity shares to the anchor investors, 1.58 crore shares were allocated to 6 domestic mutual funds through a total of 17 schemes," Aegis Vopak Terminals said.

The company is the largest Indian third-party owner and operator of tank storage terminals for liquified petroleum gas (LPG) and liquid products in terms of storage capacity as of December 2024, with storage capacity of 1.50 million cubic meters for liquid products and 70,800 metric tons of static capacity for LPG.

Aegis Vopak Terminals that competes with JSW Infrastructure, and Adani Ports intends to utilise Rs 2,016 crore out of net IPO proceeds for repayment of debt, and spend Rs 671.3 crore for contracted acquisition of the cryogenic LPG terminal at Mangalore.

The book running lead managers handling the Aegis Vopak Terminals IPO are ICICI Securities, BNP Paribas, IIFL Securities, Jefferies India, and HDFC Bank.