Aegis Logistics shares hit 52 week high on reports of its subsidiary filing for ₹4,500 cr IPO

Reacting to the news, the Aegis Logistics stock gained as much as 4.7% in the opening trade on Tuesday to hit a high of ₹970 apiece on the National Stock Exchange of India (NSE). However, the stock could not hold on to the gains and closed 0.3% higher at ₹930.

A CNBC TV18 report on Tuesday said that Aegis Vopak Terminals, a subsidiary of Aegis Logistics, is looking to file its draft red herring prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (SEBI) in order to raise funds through an IPO.

The report added that Aegis Vopak Terminals is looking to raise nearly ₹4,500 crore through a fresh issuance of shares.

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It mentioned that the DRHP is likely to be filed by September, and the IPO is expected to be launched towards the end of the calendar year 2024.

Also, the entire proceeds from the fresh issuance are reportedly being planned to be used for the company's expansion.

The report added that the IPO is expected to value Aegis Vopak Terminals, which is a joint venture between Aegis Logistics and Dutch multinational Royal Vopak, at ₹35,000-37,500 crore.

Aegis Vopak Terminals had recorded consolidated revenue from operations at ₹562 crore in FY 2023-24, up 59% compared to the preceding financial year. Consolidated profit stood at ₹87 crore in FY24 against a loss of ₹7 crore in FY 2022-23.