AZB, Khaitan, CAM act on Aegis Vopak Terminals' ₹2,800 crore IPO

Aegis Vopak Terminals Limited has made an initial public offering of 119,148,936 equity shares, aggregating to ₹2,800 crore, comprising solely of a fresh issue.

AZB & Partners acted for the Aegis Vopak Terminals, according to Draft Red Herring Prospectus.

Khaitan & Co Acted for the Promoters of Aegis Vopal Terminals i.e., Vopak India B.V. and Koninklijke Vopak N.V. on this IPO.

The core team consisted of Aditya Cheriyan (Partner), Oishik Bagchi (Partner), Vivek Sriram (Partner), Varun Narayan (Partner), Ayushi Saumya (Senior Associate), Karthik Sridhar (Senior Associate) and Rexey Soosan Sabu (Associate).

Cyril Amarchand Mangaldas acted for the book running lead managers to the IPO - ICICI Securities, BNP Paribas, IIFL Capital, Jefferies India and HDFC Bank.

The transaction team advising the BRLMs included Manan Lahoty, Partner - (Head - Capital Markets); Ravi Dubey, Partner (Regional Co-Head - Capital Markets - West); Abhyuday Bhotika, Partner; with the support from Sravya Surapaneni, Senior Associate; Sachin Santuka, Senior Associate; Prakhar Jain, Associate; Jayadeep Manchikalapudi, Associate; Parameswaran Chidamparam, Associate; and Palak Dwivedi, Associate.

The ₹2,800 crore IPO, consisting entirely of a fresh issue of 11.91 crore equity shares, was subscribed 2.09 times overall. While the Qualified Institutional Buyers (QIB) segment saw strong interest with a subscription of 3.30 times, the Non-Institutional Investors (NII) and Retail Individual Investors (RII) segments were subscribed 0.56 and 0.77 times, respectively . The proceeds from the IPO are earmarked for debt repayment, acquisition of a cryogenic LPG terminal in Mangalore, and general corporate purposes

Aegis Vopak Terminals, a joint venture between Aegis Logistics and Dutch tank storage company Royal Vopak, operates storage terminals for LPG and various liquid products across India. The company's successful listing and subsequent stock performance underscore investor confidence in its strategic growth plans and the robust demand in India's energy logistics sector

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