Aegis Vopak IPO sees muted response; subscription lags at 7%, GMP 6%

Aegis Vopak Terminals IPO subscription status Day 1: The mainline IPO was subscribed only 7 per cent as of 2 PM on Day 1, according to data from National Stock Exchange

Aegis Vopak Terminals IPO subscription status Day 1: The initial public offering (IPO) of Aegis Vopak Terminals opened for subscription today, May 26, 2025. The mainline IPO is receiving a muted response from investors as the issue was subscribed only 7 per cent as of 2 PM on Day 1, according to data from National Stock Exchange (NSE). 

 

The quota reserved for retail investors was subscribed over 14 per cent, followed by qualified institutional buyers (QIBs) at 7 per cent. However, the qualified institutional buyers (QIBs) quota was subscribed only 2 per cent so far. 

Aegis Vopak Terminals IPO GMP

On Monday, the unlisted shares of Aegis Vopak Terminals were trading at ₹249.5, commanding a grey market premium (GMP) of ₹14.5 or 6.1 per cent compared to the upper price band of ₹235, according to sources tracking unofficial market activities.

 

Aegis Vopak Terminals IPO review

Analysts have recommended subscribing to the issue on a long-term basis. According to analysts at SBI Securities, the industry outlook is strong and Aegis Vopak Terminals being the largest player by capacity could be a key beneficiary of industry tailwinds. 

 

"Long-term investors with high-risk appetite may subscribe to the issue, however listing gains are likely to be muted," SBI Securities said in a research note. READ MORE

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Aegis Vopak Terminals IPO details

The three-day bidding window will close on Wednesday, May 28, 2025. The basis of the allotment of shares is likely to be finalised on Thursday, May 29, 2025. Shares of Aegis Vopak will be listed on both exchanges, NSE and BSE, tentatively on Monday, June 2, 2025.

 

The ₹2,800-crore issue comprises a fresh issue of 119.14 million shares. There is no offer for sale (OFS) component. The price band for the Aegis Vopak Terminals IPO is set at ₹223-235 per equity share. Retail investors would require a minimum investment amount of ₹14,049 to bid for one lot comprising 63 shares.

 

MUFG Intime India, formerly Link Intime, is the registrar of the issue. ICICI Securities, BNP Paribas, IIFL Securities, Jefferies India, and HDFC Bank are the book-running lead managers for the issue.

 

According to the red herring prospectus (RHP), the company aims to use the net issue proceeds for repayment or prepayment of all or a portion of certain outstanding borrowings and funding capital expenditure towards the contracted acquisition of the cryogenic LPG terminal at Mangalore. The remaining funds will be used for general corporate purposes. 

About Aegis Vopak Terminals

Aegis Vopak Terminals is India’s leading third-party owner and operator of tank storage terminals for LPG and liquid products. It is a joint venture between Aegis Logistics and Royal Vopak. The company has presence over both East and West coasts of India and aims to expand its footprint along the coastal necklace of India. Aegis Vopak caters to marquee names across sectors including traders, manufacturers, chemicals and fuel marketing companies across private and public sectors, as well as local and international businesses.