Age Vopack Terminals, a subsidiary of Aegis Logistics Limited, said on Wednesday that it would open its IPO for public membership on 26 May. It will close on 28 May. The company has fixed the price band of Rs 223 to Rs 235 per share for its initial public issue (IPO) of Rs 2,800 crore. According to PTI news, the company said that the bid for anchor investors will open for a day on 23 May.
A new issue of equity shares
According to the news, according to the Red Herring Prospectus (RHP), the IPO is a completely new issue of equity shares, with no proposal for sale (OFS) component. Earlier, there were plans to raise Rs 3,500 crore from the IPO. An income of Rs 2,016 crore will be used for loan payment, Rs 671.30 crore will be allocated to fund capital expenditure for acquisition of cryogenic LPG terminal in Mangalore and the remaining amount will be allocated for general corporate purposes.
How much you can apply bid
The company announced that 75 percent of the issue size 75 percent of eligible institutional buyers, 35 percent for non-institutional buyers and the remaining 10 percent have been reserved for retail investors. Investors can bid in minimum 63 equity shares and then multiple of 63. By June 2024, the company had a total of Rs 2,584 crore on its books.
Know the company
Aegis Vopack Terminal owe and operate storage tank terminals across India. These terminal provide safe storage facilities for liquids such as petroleum, vegetable oil, lubricant, chemicals and LPG, propane and butane. Near the major ports, the strategic location of the company’s terminals close to the major ports, pipelines, rapid withdrawal through rail and road offers competitive benefits, including low delivery costs and better delivery time.
The terminal industry storage depends much more on the strategic location of the terminals. Terminals near major shipping routes and well-connected ports lead to competitive edge by reducing the final-mile delivery cost and ensuring rapid distribution time. ICICI Securities, BNP Pariba, IIFL Capital Services, Jeffers India and HDFC Bank are the book running lead managers of this issue.
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