Aegis Vopak Terminals, a subsidiary of Aegis Logistics Ltd., has raised Rs 1,260 crore from anchor buyers, forward of its preliminary share-sale that opens for public subscription.
A few of the buyers embody American Funds insurance coverage, HDFC Mutual Fund, Smallcap World Fund, 360 one, Motilal Oswal, SBI Common Insurance coverage and Suppose India, in line with a round uploaded on BSE’s web site on Friday.
As per the round, Aegis Vopak Terminals has allotted 5.36 crore fairness shares to 32 funds on the higher value band of Rs 235 per fairness share. This aggregates the transaction dimension to Rs 1,260 crore.
The difficulty, with a value band of Rs 223 to Rs 235 per share, will open for public subscription on Could 26 and conclude on Could 28.
The corporate is valued at round Rs 26,000 crore on the higher finish of the value band.
The IPO is totally a contemporary problem of fairness shares price Rs 2,800 crore with no offer-for-sale (OFS) element, in line with the purple herring prospectus (RHP). Beforehand, the IPO was deliberate to lift Rs 3,500 crore.
Proceeds price Rs 2,016 crore can be used for cost of debt, Rs 671.30 crore to fund capital expenditure for the acquisition of a cryogenic LPG terminal at Mangalore and the remaining quantity can be allotted for normal company functions.
Aegis Vopak Terminals owns and operates storage tank terminals throughout India. These terminals present safe storage services for liquids like petroleum, vegetable oil, lubricants, chemical substances, and gases corresponding to LPG, propane, and butane.
The strategic location of the corporate’s terminals close to key ports, nearer to main delivery routes, presents aggressive benefits, together with quicker evacuation by way of pipelines, rail, and highway, decrease supply prices, and improved supply instances.
The terminalling trade depends closely on the strategic location of storage terminals. Terminals close to main delivery routes and well-connected ports achieve a aggressive edge by decreasing last-mile supply prices and making certain quicker supply instances.
ICICI Securities, BNP Paribas, IIFL Capital Companies, Jefferies India and HDFC Financial institution are the e book working lead managers to the difficulty. Shares of the corporate are anticipated to be listed on the bourses by June 2.
. Learn extra on IPOs by Newsstate24 Revenue.
