Aegis Vopak Terminals Limited, headquartered in Maharashtra, India, has received final approval from SEBI on April 16, 2025, to raise ₹3,500 crore via an IPO. Known as the largest third-party storage operator for LPG and liquid products in India, the company will use the proceeds for loan repayment, capital expenditure for terminal acquisition, and general corporate needs.
Maharashtra-based Aegis Vopak Terminals Limited has received the final observation from the Securities and Exchange Board of India (SEBI) on April 16, 2025, paving the way for the company to raise ₹3,500 crore through an initial public offering (IPO). The draft red herring prospectus (DRHP) was initially filed with SEBI on November 18, 2024.
Aegis Vopak Terminals is the country’s largest independent operator of storage terminals for liquefied petroleum gas (LPG) and liquid products, with a total storage capacity of approximately 1.50 million cubic meters for liquids and 70,800 metric tons for LPG as of June 30, 2024. The company offers essential infrastructure for the safe storage and handling of petroleum products, vegetable oils, lubricants, chemicals, and gases like propane and butane.
The IPO will consist entirely of a fresh issue of equity shares aggregating up to ₹3,500 crore. The proceeds from the offering will be utilized for repaying outstanding borrowings, financing the acquisition of a cryogenic LPG terminal in Mangalore, Karnataka, and supporting general corporate purposes.
The issue will be managed by a group of lead book runners including ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India, and HDFC Bank.
With this IPO, Aegis Vopak aims to strengthen its infrastructure and fuel long-term growth in India’s rapidly expanding energy and logistics sector.
