Aegis Vopak Terminals IPO: Date, Price Band, Financials, Key Risks & 10 Must-Know Facts
The Aegis Vopak Terminals IPO opens from May 26 to May 28, 2025, aiming to raise ₹2,800 crore at a price band of ₹223–₹235 per share. Listing is expected on June 2, 2025. For live updates, GMP, and allotment status, visit IPOji.com or use the IPO Ji App.
The Aegis Vopak Terminals IPO is set to hit the markets on Monday, May 26, 2025, and will remain open for subscription until Wednesday, May 28, 2025. If you're considering investing in this upcoming IPO, here's everything you need to know—from IPO dates, objectives, and price band to financials and key risks.
🧾 Aegis Vopak Terminals IPO Details
The Aegis Vopak Terminals IPO is scheduled to open for public subscription on May 26, 2025, and will close on May 28, 2025. The IPO aims to raise ₹2,800 crore entirely through a fresh issue of 11.91 crore equity shares. The price band for the IPO has been fixed at ₹223 to ₹235 per share, and the minimum application lot size for retail investors is 63 shares.
Aegis Vopak Terminals Limited is a joint venture between Aegis Logistics Ltd and Vopak India BV, a subsidiary of Royal Vopak, which has over 400 years of expertise in global storage infrastructure. The IPO proceeds will be utilized to repay certain borrowings, fund the acquisition of a cryogenic LPG terminal at Mangalore, and meet capital expenditure requirements, along with general corporate purposes.
The company has demonstrated solid financial performance, with FY24 revenue of ₹5,617.61 million, EBITDA of ₹4,058.97 million, and an impressive EBITDA margin of 71.19%. It operates terminals at five ports across India, including major ones like Kandla and Pipavav, handling more than 20% of India’s LPG imports. The company serves a diversified clientele of over 400, including both private and public sector oil marketing companies, fuel marketers, manufacturers, and traders. However, there is a customer concentration risk, as about 42% to 47% of revenue in recent years has been derived from the top 10 customers.
Investors should also consider certain risks before applying, such as dependence on LPG import volumes, operational risks related to terminal handling, and regulatory or environmental compliance challenges. The allotment of shares is expected to be finalized on May 29, 2025, and the listing is likely to take place on June 2, 2025, on both the NSE and BSE. The IPO is being managed by ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India, and HDFC Bank, with MUFG Intime India Pvt Ltd serving as the registrar.
Furthermore, Aegis Logistics is in the process of developing an ammonia storage facility at Pipavav, which is expected to be transferred to Aegis Vopak by FY26, indicating a pipeline of future growth and expansion.
🔍 What Type of Work Does Aegis Vopak Terminals Do?
In December 2024, Aegis Vopak Terminals leads in India for third-party owning and operating tank storage terminals for LPG by having the largest capacity.
The joint venture links Aegis Logistics Limited (India) with Vopak India BV (Netherlands) which is a part of the global tank storage giant Royal Vopak established four centuries ago.
💸 Financial Performance
With a strong and rising EBITDA margin, Aegis Vopak is showing healthy financial growth, which could attract IPO investors seeking long-term value.
📈 Industry Trends: Supporting India’s Push Toward Green Energy
According to CRISIL, India is fast becoming a leader in the field of green hydrogen and its key derivatives, like ammonia and methanol, on the world market. An increase in demand for cleaner fuels is expected to help special storage terminals like those handled by Aegis Vopak.
🗺️ The best places to locate terminals are:
Five terminals along the West and East coasts of India are used by the company for its operations. At the end of FY25, Kandla and Pipavav (both in Gujarat) were responsible for about 20% of the nation’s LPG imports.
These terminals process:
- Propane & Butane
- Liquid chemicals
- Petroleum products
📝 Companies rely heavily on their customer base and how much they earn.
On that date, Aegis Vopak had more than 400 customers, among them some of the leading Oil Marketing Companies. Yet, over one-fourth of ConocoPhillips’ income comes from the top 10 clients which exposes the company to possible problems if one of them cuts or ends ties with it.
🏗️ Future Expansion: An ammonia storage facility will be added soon.
The ammonia logistics firm, Promoter Aegis Logistics, plans to build a dedicated storage unit for ammonia in Pipavav, which is expected to be completed by FY26. After it is completed, this asset will be taken over by Aegis Vopak Terminals to add to their efforts in promoting a green transition.
👨👩👧👦 Subsidiaries & Group Companies
Subsidiaries:
- Konkan Storage Systems (Kochi) Pvt Ltd
- CRL Terminals Pvt Ltd
Group Companies:
- Aegis Gas (LPG) Pvt Ltd
- Hindustan Aegis LPG Ltd
- Sealord Containers Ltd
- Vopak India Pvt Ltd
⚠️ Key Risks to Consider IPO
- Customer Concentration Risk: High revenue dependency on top 10 clients.
- Geographical Risk: Majority terminals on the West Coast may pose logistical challenges.
- Industry Cyclicality: Fluctuations in oil and chemical demand can impact storage volumes.
- Regulatory Risk: Storage of LPG and hazardous chemicals is tightly regulated in India.
📊 Should You Invest in Aegis Vopak Terminals IPO?
Pros:
- Strong promoter backing (Aegis + Vopak)
- Industry tailwinds from green energy push
- Solid financials with high EBITDA margin
- Expanding infrastructure and strategic ports presence
Cons:
- Heavy reliance on a few large clients
- Regulated and capital-intensive business model
How to Apply for Borana Weaves IPO
Applying for an IPO is now easier than ever, especially with multiple digital platforms available. Among all, IPO Ji stands out as a fast, reliable, and user-friendly platform to apply for IPOs, including the Borana Weaves IPO.
✅ Apply via IPO Ji App or Website (Recommended)
If you're looking for a seamless and guided application process, IPO Ji is the best choice to apply IPO. Here's how to apply through IPO Ji:
- Download the IPO Ji App from the Google Play Store or visit IPOji.com.
- Log in or Sign Up using your mobile number and OTP.
- Go to the ‘Current IPOs’ section and select Aegis Vopak Terminals IPO.
- Enter your PAN, UPI ID, and Bid Details (choose quantity, price band, etc.).
- Approve the UPI mandate from your UPI app (e.g., PhonePe, Google Pay, Paytm).
- Done! You’ll receive real-time updates on allotment status and listing.
⭐ IPO Ji also offers live subscription data, allotment check, and listing updates in one place — no need to go anywhere else!
Other Options to Apply
1. UPI-based ASBA via Broker Apps
You can also apply through popular trading apps like:
Simply log in, go to IPO section, select Aegis Vopak Terminals IPO, fill in bid details, and approve UPI.
2. Net Banking ASBA (via Banks)
Alternatively, apply directly from your bank's net banking portal under the "IPO/ASBA Services" section:
- HDFC Bank
- SBI
- ICICI Bank
- Axis Bank
- Kotak Mahindra Bank
Choose Aegis Vopak Terminals IPO, enter DP/Client ID, PAN, bid details, and submit.
🔔 Note: Ensure your Demat account is active and linked with your PAN and UPI ID before applying.
Frequently Asked Questions about Aegis Vopak Terminals IPO:
📌 What is the Aegis Vopak Terminals IPO date?
Answer: The Aegis Vopak Terminals IPO will open for subscription on Monday, May 26, 2025, and will close on Wednesday, May 28, 2025.
📌 What is the price band of the Aegis Vopak IPO?
Answer: The price band of the Aegis Vopak Terminals IPO is fixed at ₹223 to ₹235 per share.
📌 What is the lot size for the Aegis Vopak IPO?
Answer: The minimum lot size is 63 shares. Retail investors can apply in multiples of 63 shares.
📌 How much is Aegis Vopak Terminals planning to raise through this IPO?
Answer: The company plans to raise ₹2,800 crore through a fresh issue of 11.91 crore equity shares.
📌 What will Aegis Vopak do with the IPO proceeds?
Answer: The net proceeds will be used to:
- Repay/prepay borrowings
- Fund the acquisition of a cryogenic LPG terminal at Mangalore
- Support capital expenditure
- General corporate purposes
📌 Who are the promoters of Aegis Vopak Terminals?
Answer: Aegis Vopak is a joint venture between:
- Aegis Logistics Limited (India-based)
- Vopak India BV (part of Netherlands-headquartered Royal Vopak, with 400+ years of experience in storage)
📌 How is Aegis Vopak performing financially?
Answer:
- FY23 Revenue: ₹3,533.32 million
- FY24 Revenue: ₹5,617.61 million
- FY24 EBITDA: ₹4,058.97 million
- FY24 EBITDA Margin: 71.19% The company has shown consistent growth in revenue and margins.
📌 When is Aegis Vopak IPO allotment date?
Answer: The share allotment is expected to be finalized on Thursday, May 29, 2025.
📌 What is the Aegis Vopak listing date on NSE and BSE?
Answer: The IPO is likely to be listed on Monday, June 2, 2025, on both NSE and BSE.
📌 Who are the Book Running Lead Managers (BRLMs)?
Answer:
- ICICI Securities
- BNP Paribas
- IIFL Capital Services
- Jefferies India
- HDFC Bank
📌 Who is the registrar for the Aegis Vopak IPO?
Answer: The registrar is MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited).
📌 Are there any upcoming projects by Aegis Vopak?
Answer: Yes. Aegis Logistics is developing an ammonia storage facility in Pipavav, which will be transferred to Aegis Vopak by FY26.
