Aegis Vopak IPO: Check Day One Subscription Status, GMP, Price Band And More

The initial public offering of Aegis Vopak Terminals Ltd. was subscribed 26% on its first day of bidding on Monday.

The grey market premium of the Aegis Vopak Terminals IPO fell to Rs 10 as of 10:54 a.m, according to InvestorGain. This implies shares of the company will likely list at Rs 245 apiece, indicating a 4.26% premium to the upper end of the price band.

The company announced a price band of Rs 223 to Rs 235 per share for its Rs 2,800-crore initial public offering. The company intends to use net proceeds from the issue towards repayment of outstanding borrowings, funding capital expenditure towards acquisition of the cryogenic LPG terminal at Mangalore, and for general corporate purposes.

• Issue opens: May 26.

• Issue closes: May 28.

• Issue price: Rs 223–235.

• Fresh issue: Rs 2,800 crore.

• Total issue size: Rs 2,800 crore.

• Lot size: Minimum 63 shares, and then in multiples thereof.

According to its red herring prospectus, Aegis Vopak Terminals is India's largest third-party owner and operator of tank storage terminals for liquified petroleum gas and liquid products, based on storage capacity as of Dec. 31, 2024. The company operates a vast network of terminals with an aggregate storage capacity of approximately 1.50 million cubic meters for liquid products and 70,800 metric tonnes of static capacity for LPG.

Aegis Vopak Terminals claims to hold a leading position in the LPG storage sector in India, accounting for around 11.50% of the country’s total static LPG storage capacity. In the liquid products segment, it is the largest third-party tank storage company, contributing approximately 25.53% of India’s total third-party liquid storage capacity.

With a strategically diversified presence across five major ports on both the west and east coasts of India, Aegis Vopak Terminals plays a significant role in India’s import infrastructure. These terminals collectively handle about 23% of the country’s liquid imports and 61% of its total LPG imports.

The IPO has been subscribed 0.26 times or 26% as of 05:00 p.m. on Monday.

• Qualified institutional buyers: 0.39 times or 39%.

• Non-institutional investors: 0.03 times or 3%.

• Retail investors: 0.19 times or 19%.

The grey market premium of the Aegis Vopak Terminals IPO was Rs 14.5 as of 09:00 a.m., according to InvestorGain. This implies shares of the company will likely list at Rs 249.5 apiece, indicating a 6.17% premium to the upper end of the price band.

It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.