Aegis Vopak Terminals, a subsidiary of Aegis Logistics Ltd, received a 26% subscription on the first day of bidding.

Key Highlights

• Institutional investors led the initial demand for Aegis Vopak's IPO, contributing significantly to its first-day performance.
• Retail participation in the Aegis Vopak IPO added momentum, though institutional investors dominated the initial subscription.

According to NSE data, bids for 1,77,71,355 shares were received against 6,90,58,296 shares offered in the initial share sale.

Qualified Institutional Buyers (QIBs) received 39 percent of the subscriptions, while Retail Individual Investors (RIIs) received 19 percent. Non-institutional investors received a 3% subscription.

Aegis Vopak Terminals raised Rs 1,260 crore from anchor investors.

The issue will be closed on May 28, with shares priced between Rs 223 and Rs 235.

If the price range is at the top, the company could be worth Rs 26,000 crore.

According to the RHP, the IPO is based on a Rs 2,800 crore equity issue and there is no OFS.

The money from the IPO will be spent on the company’s routine needs, paying off Rs 2,016 crore in debt and investing Rs 671.30 crore toward building a cryogenic LPG terminal in Mangalore.

Storage tanks at terminals are owned and managed by Aegis Vopak Terminals across India. These terminals safely store liquids such as petroleum, vegetable oil, lubricants, chemicals and gases, for example LPG, propane and butane.

The participants responsible for coordinating the book for this issue are ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India and HDFC Bank.