Aegis Vopak Terminals IPO Subscribed 26% on Day 1: GMP Falls, Retail Interest Low

The Aegis Vopak Terminals IPO, which opened on Monday, May 26, 2025, received a 26% overall subscription on its first day. The public issue, aiming to raise ?2,800 crore, is set to close on Wednesday, May 28, 2025.

IPO Price Band and Lot Size

• Price Band: ?223 to ?235 per equity share

• Lot Size: 63 shares per lot

• Fresh Issue: 11.91 crore shares

Day 1 Subscription Status (as per BSE data)

• Total Subscription: 26% (1.77 crore shares bid out of 6.90 crore available)

• Qualified Institutional Buyers (QIBs): 39% subscription

• Retail Individual Investors (RIIs): 19% subscription

• Non-Institutional Investors (NIIs): 3% subscription

Grey Market Premium (GMP) Update

As of May 26, 2025, the GMP stands at ?11 per share, indicating an expected listing price of around ?246, a premium of 4.68% over the upper price band of ?235. Notably, the GMP has dropped by ?3.5 since the IPO opened, reflecting cautious sentiment in early trading.

Fund Utilization Plan

• ?2,016 crore to repay debt

• ?671.30 crore to fund Capex for acquiring a cryogenic LPG terminal in Mangalore

• Remaining proceeds for general corporate purposes

Anchor Investment

Aegis Vopak Terminals has already raised ?1,260 crore from anchor investors ahead of the IPO, showing strong institutional interest despite a slow start in retail bidding.

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Should You Apply?

 

While QIB participation was relatively strong, the low retail and NII subscription and declining GMP suggest mixed sentiment. Investors are advised to track Day 2 and Day 3 subscription data closely and consult financial experts before making any decisions.

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