FOREX
Aegis Vopak shares hit upper circuit after 6% discount listing
Shares of Aegis Vopak Terminals Ltd, a subsidiary of Aegis Logistics Ltd, jumped 10 per cent after listing at 6 per cent discount against the IPO price of ₹235.
The stock ended 10 per cent higher on the NSE and BSE at ₹242 and ₹241.95, respectively, against the listing price of ₹220.
As per BSE, the company’s market valuation stood at ₹26,807.85 crore.
Post-listing, Satish Chandra Aluri of Lemonn Markets Desk advised investors with a long-term horizon to wait for further consolidation before entering given the solid expansion plans.
The analyst stated that the discount listing reflected cautious investor sentiment and weak debut enthusiasm. A sharp drop in grey market premium ahead of the IPO had signalled limited near-term return expectations. Despite strong institutional interest, retail and non-institutional investor participation was muted, with undersubscribed quotas—highlighting concerns over valuation, despite the company’s solid fundamentals. This is reflected in today’s listing,” Aluri added.
Aegis Vopak Terminals IPO fetched 2.09 times subscription on the closing day of bidding and had a price band of ₹223-235 per share.
The IPO was entirely a fresh issue of equity shares worth ₹2,800 crore.
According to the company, the proceeds worth ₹2,016 crore will be used for payment of debt, ₹671.30 crore to fund capital expenditure for the acquisition of a cryogenic LPG terminal at Mangalore and the remaining amount will be allocated for general corporate purposes.
More Like This
Published on June 2, 2025
Top News
