Aegis Logistics Ltd’s shares dropped more than 4% after its subsidiary, Aegis Vopak Terminals, filed a draft red herring prospectus (DRHP) with SEBI to raise ₹3,500 crore through an initial public offering (IPO).
The IPO will be a fresh equity issue with no offer-for-sale (OFS) component. Additionally, the company may raise up to ₹700 crore via a pre-IPO placement, reducing the public issue size accordingly.
Proceeds from the IPO will be used to repay ₹2,027.18 crore in debt, fund ₹671.30 crore for acquiring a cryogenic LPG terminal at Mangalore, and support general corporate expenses.
As of 9:42 am, Aegis Logistics shares were trading 4.55% lower at Rs 801.65 on the NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
