Aegis Vopak Terminals Limited (AVTL), a material subsidiary of Aegis Logistics Limited, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), BSE Limited, and the National Stock Exchange of India Limited on November 19, 2024, for an initial public offering (IPO) aiming to raise ₹3,500 crore.
The IPO will consist of a fresh issue of equity shares with a face value of ₹10 each. The proceeds are intended to support AVTL’s expansion plans and enhance its financial flexibility.
Aegis Logistics Limited has stated that if AVTL ceases to be its subsidiary following the IPO, it will seek necessary shareholder approval in compliance with Regulation 24(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable laws. This approval will be obtained before AVTL files the red herring prospectus with the Registrar of Companies, Gujarat at Ahmedabad.
This strategic move is expected to strengthen AVTL’s market position and provide investors with an opportunity to participate in the company’s growth trajectory.
