Aegis Vopak Terminals IPO: DRHP Filed With SEBI For Rs 3,500-Crore Issue

Aegis Vopak Terminals Ltd. on Tuesday filed the draft red herring prospectus with the Securities and Exchange Board of India to raise up to Rs 3,500 crore through an initial public offering.

The IPO will include a fresh issue of shares at a face value of Rs 10, with no offer-for-sale component, according to an exchange filing on Tuesday.

The company plans to use the net proceeds towards repayment or prepayment of its outstanding borrowings along with funding the capital expenses for the planned purchase of the cryogenic LPG terminal in Mangalore.

The tank storage operator also aims to utilise the funds raised towards general corporate purposes, according to the DRHP. ICICI Securities Ltd., BNP Paribas, IIFL Capital Services Ltd., Jefferies India Pvt. Ltd. and HDFC Bank Ltd. are the lead managers to the issue, it added.

Earlier, the company reported that it also plans to raise Rs 800 crore via preferential issue on a private placement basis.

Aegis Vopak Terminals, subsidiary of Aegis Logistics Ltd. is an Indian third-party owner and operator of tank storage terminals for liquified petroleum gas and other liquid products.

The parent entity had logged a 1% year-on-year climb in its net profit at Rs 152.02 crore in the quarter ended Sept. 30, which was largely in line with analysts' estimates.

Aegis Logistics' revenue from operations in the July-September period jumped 41% YoY at Rs 1,750.42 crore, missing the Rs 1,856-crore consensus estimate of analysts tracked by Bloomberg.

The company's earnings before interest, taxes, depreciation and amortisation rose 8% year-on-year to Rs 223.94 crore. The Ebitda margin narrowed to 12.8% from 16.9% in the same period the previous year.

On Tuesday, the shares of Aegis Logistics closed 0.36% lower at Rs 839.90 apiece on the NSE, compared to a 0.28% rise in the benchmark Nifty 50.