Should You Apply? Aegis Vopak Terminals IPO Full Review (2025)

IPO Details

• Opening Date: 26 May 2025
• Closing Date: 28 May 2025
• Listing Date: 2 June 2025
• Price Band: ₹223 – ₹235
• Lot Size: 63 shares
• Minimum Investment: ₹14,805
• IPO Type: Bookbuilding
• Total Issue Size: ₹2,800 Cr
• Fresh Issue Shares: 11.91 Cr
• Face Value: ₹10
• Exchanges: BSE, NSE

IPO Reservation

• QIB: Not less than 75%
• Retail: Not more than 10%
• NII: Not more than 15%

Lot Size & Investment

• Retail: 1 lot (63 shares) – ₹14,805
• Retail Max: 13 lots (819 shares) – ₹1,92,465
• sHNI: 14 lots (882 shares) – ₹2,07,270
• bHNI: 68 lots (4284 shares) – ₹10,06,740

Financials (₹ in Crore)

• • FY 2024: Revenue: 570.12 | PAT: 86.54 | Net Worth: 1151.94 | Assets: 4523.40 | Borrowing: 2586.42
  • FY 2023: Revenue: 355.99 | PAT: -0.08 | Net Worth: 1098.20 | Assets: 3481.48 | Borrowing: 1745.17
  • FY 2022: Revenue: 0.00 | PAT: -1.09 | Net Worth: -0.53 | Assets: 102.56 | Borrowing: 98.10
  • Dec 2024 (9M): Revenue: 476.15 | PAT: 85.89 | Net Worth: 2037.61 | Assets: 5855.60 | Borrowing: 2485.75

Key Ratios

• ROE: 8.68%
• ROCE: 8.39%
• Debt to Equity: 2.59
• PAT Margin: 15.18%
• Price to Book: 17.71
• EPS (Post IPO): ₹0.91
• P/E (Post IPO): 259.32

Objectives of the Issue

• Repayment/prepayment of borrowings
• Acquisition of cryogenic LPG terminal at Mangalore
• General corporate purposes

Company Overview

• Incorporation Year: 2013
• Business: LPG & liquid storage terminals
• Capacity: Liquids: 1.5 million m³ | LPG: 70,800 MT
• Key Ports: Haldia, Kochi, Mangalore, Pipavav, Kandla
• Employees: 392 (as of June 30, 2024)

Promoters

• Aegis Logistics Ltd.
• Vopak India B.V.
• Koninklijke Vopak N.V.
• Others
• Shareholding Pre-Issue: 97.41%
• Shareholding Post-Issue: 85.93%

Registrar & Contact

• Registrar: Link Intime
• Email: aegisvopak.ipo@linkintime.co.in
• Website: aegisvopak.com