Aegis Vopak Terminals IPO
Aegis Vopak Terminals IPO — date, price band, lot size & details 2025
Aegis Vopak Terminals listed on 2 Jun 2025 at ₹220, 6.4% below the ₹235 issue price.
Aegis Vopak Terminals builds, owns and operates storage tank terminals for LPG, petroleum, vegetable oil and chemicals at Indian ports. On 30 June 2024 it managed about 1.50 million cubic metres of liquid storage and 70,800 metric tons of LPG storage.
Stock price
Aegis Vopak Terminals is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 26 May 2025
- Close 28 May 2025
- Allotment 29 May 2025
- Refund/credit 30 May 2025
- Listing 02 Jun 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 26 to 28 May, 2025 |
|---|---|
| Price Band | ₹223 – ₹235 |
| Face Value | ₹10 |
| Lot Size | 63 Shares |
| Issue Size | ₹2800 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,805 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 63 shares at the ₹235 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 63 | ₹14,805 |
| Retail (max) | 13 | 819 | ₹1,92,465 |
| S-HNI (min) | 14 | 882 | ₹2,07,270 |
| S-HNI (max) | 67 | 4,221 | ₹9,91,935 |
| B-HNI (min) | 68 | 4,284 | ₹10,06,740 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 355.99 crore in FY2023 to Rs 570.12 crore in FY2024.
- 02Profit after tax was Rs 85.89 crore in the nine months to 31 December 2024, close to the full FY2024 figure of Rs 86.54 crore.
- 03The whole Rs 2,800 crore issue was fresh capital, with Rs 2,015.95 crore set for repaying debt.
- 04The company operates 18 liquid terminals and two LPG terminals at Indian ports.
- 05The PAT margin was 15.18%, as per the figures at the source.
Risks · 7
- 01The P/E was 227.36 at the upper band of Rs 235, based on post-issue EPS of Rs 1.03.
- 02Total borrowing was Rs 2,485.75 crore on 31 December 2024, above net worth of Rs 2,037.61 crore.
- 03Debt to equity was 2.59 on the figures at the source.
- 04Return on equity was 8.68% and return on capital employed was 8.39%, both low against the P/E of 227.36.
- 05The company made a small loss of Rs 0.08 crore in FY2023, so its profit record is short.
- 06Income depends on port-based terminals, and total assets grew from Rs 102.56 crore on 31 March 2022 to Rs 5,855.60 crore on 31 December 2024 largely through expansion.
- 07Shares listed at Rs 220 against the issue price of Rs 235, and promoter holding fell from 97.41% to 85.93%.
Three years of numbers
All figures in ₹ crore, as reported in the Aegis Vopak Terminals offer document.
| Metric | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 5,855.60 | 4,523.40 | 3,481.48 | 102.56 |
| Total Income | 476.15 | 570.12 | 355.99 | 0.00 |
| Profit After Tax | 85.89 | 86.54 | -0.08 | -1.09 |
| NET Worth | 2,037.61 | 1,151.94 | 1,098.20 | -0.53 |
| Total Borrowing | 2,485.75 | 2,586.42 | 1,745.17 | 98.10 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Aegis Vopak Terminals RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Aegis Vopak Terminals IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹0.88 | ₹1.03 |
| P/E Ratio (x) | 268.51 | 227.36 |
| Market Cap at Offer Price (₹ Cr) | ₹22,936.53 | ₹19,596.26 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹235 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹2,800.00 Cr of the issue is earmarked to named objects.
Aegis Vopak Terminals IPO Anchor Investors
32 anchor investors across 18 fund houses committed ₹1,259.99 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
The business has two divisions. The gas terminal division handles LPG, propane and butane. The liquid terminal division handles petroleum, chemicals and edible and non-edible oils.
The company owns two LPG terminals across two ports and 18 liquid terminals across six ports. The promoters include Aegis Logistics and Koninklijke Vopak.
The IPO was a fresh issue of Rs 2,800 crore. Rs 2,015.95 crore was planned for repaying borrowings and Rs 671.30 crore for buying a cryogenic LPG terminal.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Aegis Vopak Terminals IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
34 issues handledBest listing: Tempsens Instruments (India) (+111.3%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Jefferies India Private Limited
16 issues handledBest listing: Dhoot Transmission (+37.8%). Weakest: Turtlemint Fintech Solutions (-10.4%).
IIFL Capital Services Limited
50 issues handledBest listing: Tonbo Imaging India (+65.7%). Weakest: Acevector (-11.5%).
Hdfc Bank Limited
6 issues handledBNP Paribas
1 issue handled1 of their issues has listed so far, and 1 opened above the issue price (average +12.8%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Aegis Vopak Terminals?
The current Grey Market Premium is ₹1.
What is the Aegis Vopak Terminals IPO price band?
₹223 to ₹235, on a face value of ₹10.
When is the allotment?
The basis of allotment is 29 May 2025, with listing on 2 June 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
