Subscribe for Aegis Vopak Terminals Ltd IPO; Anand Rathi

Anand Rathi, has come out with its report on Aegis Vopak Terminals Ltd. The research firm has recommended to “ Subscribe” the ipo in its research report as on May 26, 2025.

Broker Research

May 26, 2025 / 13:43 IST

IPO

Anand Rathi, Aegis Vopak Terminals Ltd

Established in 2020, Aegis Vopak terminals as a joint venture between Aegis Logistics Ltd and Vopak India BV (part of Royal Vopak, a Netherlands-based leading global tank storage company). 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 31, 2024. The company owns and operates a network of storage tank terminals having an aggregate storage capacity of approximately 1.50 million cubic meters for liquid products and 70,800 metric tons (“MT”) of static capacity for LPG as of December 31, 2024, and offer secure storage facilities and associated infrastructure for liquids such as petroleum, vegetable oil, lubricants, and various categories of chemicals and gases such as LPG (including propane and butane).

Valuation and Outlook

Therefore, we believe that company’s aggressive capacity additions justify the steep valuation however, it has also able to achieve lowest capex per MT while delivering the highest throughput and tank turns among peers, underscoring its operational excellence. Thus, we recommend the issue can only be consider as “SUBSCRIBE for LONG TERM”.

For all IPO report, click here