Aegis Vopak Terminals' shares bounce back; climb nearly 3% against issue price in debut trade

New Delhi: Shares of Aegis Vopak Terminals Ltd, a subsidiary of Aegis Logistics Ltd, on Monday ended with a premium of nearly 3 per cent against the issue price of Rs 235.

On the BSE, the stock listed at Rs 220, reflecting a discount of 6.38 per cent from the issue price. Later, the stock bounced back and climbed 2.95 per cent to settle at Rs 241.95 apiece -- the upper circuit limit.

Shares of the firm made the market debut at Rs 220 on the NSE. The stock finally ended at the highest reading permissible limit for the day at Rs 242, up 2.97 per cent.

The company's market valuation stood at Rs 26,807.85 crore.

In volume terms, 23.94 lakh shares of the firm were traded on the BSE and 272.06 lakh shares on the NSE during the day.

The initial public offer of Aegis Vopak Terminals fetched 2.09 times subscription on the closing day of bidding last Wednesday.

The company's initial share sale had a price band of Rs 223-235 per share.

The IPO was 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.