Aegis Vopak Terminals has received markets regulator Securities and Exchange Board of India’s (SEBI's) clearance to raise funds through initial public offering (IPO). The company is planning to float a Rs 3,500-crore IPO, which is entirely a fresh issue of equity shares.
The company plans to utilise proceeds for payment of debt, fund capital expenditure for the acquisition of a cryogenic LPG terminal at Mangalore and for general corporate purposes. ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India and HDFC Bank are the book-running lead managers for the issue.
Aegis Vopak Terminals, a strategic joint venture between Aegis Logistics India and Royal Vopak of the Netherlands, operates a necklace of 20 tank terminals across 6 key Indian ports like Haldia, Kandla, Pipavav, JNPT(upcoming), Mangalore, and Kochi.
