About
Aegis Vopak Terminals is India’s largest third-party owner and operator of LPG and liquid product tank storage terminals, with 1.5 million cubic meters of liquid storage and 70,800 MT of LPG capacity as of December 31, 2024. It accounts for 11.5% of India’s LPG and 25.5% of third-party liquid storage capacity, with terminals at five key ports handling major import volumes. Backed by promoters Aegis Logistics and Vopak India BV, the company benefits from deep industry expertise and global networks. Its two main segments include gas terminals for LPG and liquid terminals for petroleum, chemicals, and vegetable oils.
IPO schedule
| Issue open date |
2025-05-26 |
| Issue close date |
2025-05-28 |
| UPI mandate deadline |
2025-05-28 (5 PM) |
| Allotment finalization |
2025-05-29 |
| Refund initiation |
2025-05-30 |
| Share credit |
2025-05-30 |
| Listing date |
2025-06-02 |
| Mandate end date |
2025-06-12 |
| Lock-in end date for anchor investors (50%) |
2025-06-28 |
| Lock-in end date for anchor investors (remaining) |
2025-08-27 |
Financials
| Financial Year Ended |
March 2022 |
March 2023 |
March 2024 |
December 2024 |
| Total Assets |
102.56 |
3481.48 |
4523.40 |
5855.60 |
| Revenue |
0.00 |
355.99 |
570.12 |
476.15 |
| Profit After Tax |
-1.09 |
-0.08 |
86.54 |
85.89 |
*All figures are in ₹ Crores.
Issue size
| Funds Raised in the IPO |
Amount |
| Overall |
₹2800 crores |
| Fresh Issue |
₹2800 crores |
Utilisation of proceeds
| Purpose |
INR crores (%) |
| Repayment/prepayment of borrowings |
2015.95 (71.99%) |
| Acquisition of cryogenic LPG terminal at Mangalore |
671.30 (23.98%) |
| General corporate purposes |
112.75 (4.03%) |
Strengths
- Largest third-party tank storage operator in India for LPG and liquids by capacity.
- Strategic port locations handle 61% of India’s LPG and 23% of liquid imports.
- Backed by strong promoters: Aegis Logistics and Royal Vopak with global expertise.
- Proven track record in infrastructure expansion and storage throughput efficiency.
- ESG-focused operations with advanced safety and sustainability systems
Risks
- High revenue dependence on top 10 customers, posing concentration risk
- Operational risks from hazardous material handling and port-based vulnerabilities.
- Lease agreements for some terminals are expired and not yet renewed.
- Insurance coverage may not fully protect against potential operational losses
- Potential promoter conflict could disrupt operations due to JV structure
Allotment Status for Aegis Vopak Terminals
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