Aegis Vopak Terminals IPO gets subscribed 35% on Day 2

New Delhi: The initial public offer of Aegis Vopak Terminals, a subsidiary of Aegis Logistics Ltd, received 35 per cent subscription on the second day of bidding on Tuesday.

The company's initial share sale received bids for 2,39,09,949 shares against 6,90,58,296 shares on offer, as per NSE data.

The portion for Retail Individual Investors (RIIs) received 44 per cent subscription while the category for Qualified Institutional Buyers (QIBs) fetched 43 per cent subscription. Non-institutional investors part got subscribed 12 per cent.

Aegis Vopak Terminals has raised Rs 1,260 crore from anchor investors.

The issue, with a price band of Rs 223 to Rs 235 per share, will conclude on Wednesday.

The company is valued at around Rs 26,000 crore at the upper end of the price band.

The IPO is entirely a fresh issue of equity shares worth Rs 2,800 crore with no offer-for-sale (OFS) component, according to the red herring prospectus (RHP).

Proceeds worth Rs 2,016 crore will be used for payment of debt, Rs 671.30 crore to fund capital expenditure for the acquisition of a cryogenic LPG terminal at Mangalore and the remaining amount will be allocated for general corporate purposes.

Aegis Vopak Terminals owns and operates storage tank terminals across India. These terminals provide secure storage facilities for liquids like petroleum, vegetable oil, lubricants, chemicals, and gases such as LPG, propane, and butane.

ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India and HDFC Bank are the book running lead managers to the issue.