Aegis Vopak Terminals Ltd ("AVTL" or "The Company") shall open its Bid / Offer in relation to its initial public offer of Equity Shares on Monday, May 26, 2025.
The Anchor Investor Bidding Date shall be Friday May 23, 2025. The Bid/Offer will open on Monday, May 26, 2025 for subscription and will close on Wednesday, May 28, 2025.
The Price Band of the Offer has been fixed at ? 223 to ? 235 per Equity Share. Bids can be made for a minimum of 63 Equity Shares and in multiples of 63 Equity Shares thereafter.
The total offer size of equity shares with face value ? 10 each aggregating up to ? 28,000 million [? 2,800 crore] comprises only fresh issue of equity of issue shares. ("Total Offer Size")
The company proposes to utilize the net proceeds from the issue towards the following objects - (i) Repayment or prepayment of all or a portion of certain outstanding borrowings availed by the company estimated to be ? 20,159.5 million [? 2,015. 95 crore]; (ii) Funding capital expenditure towards contracted acquisition of the cryogenic LPG terminal at Mangalore estimated to be ? 6,713 million [? 671.30 crore]; and balance towards General corporate purposes.
The Equity Shares are being offered through the "Red Herring Prospectus" of the Company dated May 20, 2025 filed with the Registrar of Companies, Gujarat at Ahmedabad ("RoC") and are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE").
This Issue is being made in terms of Rule 19(2) (b) of the SCRR, read with Regulation 31 of the SEBI ICDR Regulations. The Issue is being made through the Book Building Process in terms of Regulation 6(2) of the SEBI ICDR Regulations, wherein at least 75% of the Issue shall be allocated on a proportionate basis to the Qualified Institutional Buyers ("QIBs" and such portion, the "QIB Portion"), provided that our Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis (the "Anchor Investor Portion"), out of which one-third shall be reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares of face value of ? 10 each are allocated to Anchor Investors ("Anchor Investor Allocation Price"), in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares of face value of ? 10 each shall be added to the QIB Category (excluding the Anchor Investor Portion) ("Net QIB Portion").
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Issue Price. If at least 75% of the Issue cannot be allotted to QIBs, then the entire application money will be refunded forthwith. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares of face value of ? 10 each available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.
Further, not more than 15% of the Issue shall be available for allocation to Non-Institutional Bidders ("NIBs") of which (a) one-third portion shall be reserved for applicants with application size of more than ?200,000 and up to ?1,000,000; and (b) two-thirds portion shall be reserved for applicants with application size of more than ?1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders, subject to valid Bids being received at or above the Issue Price and not more than 10% of the Issue shall be available for allocation to Retail Individual Bidders ("RIB") in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price.
All Bidders (except Anchor Investors) are mandatorily required to utilize the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA accounts and UPI ID (defined hereinafter) in case of UPI Bidders (defined hereinafter), as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks ("SCSBs") or by the Sponsor Banks under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Issue through the ASBA Process. For details, see "Issue Procedure" on page 452.
ICICI Securities Limited, BNP Paribas, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), Jefferies India Private Limited and HDFC Bank are the Book Running Lead Managers to the offer. |
