Aegis Vopak Terminals Limited (AVTL) has announced a series of strategic moves that could significantly reshape its position in the LPG storage and logistics sector. The company has dispatched a postal ballot notice to shareholders, seeking approval for three key resolutions that include a major acquisition and a board appointment.

Proposed Acquisition of Hindustan Aegis LPG Limited

AVTL is planning to acquire a 75% stake in Hindustan Aegis LPG Limited (HALPG), a move that would make HALPG a subsidiary of AVTL. This acquisition is structured as two separate but related transactions:

1. Acquisition of 51% equity stake in HALPG from Aegis Gas (LPG) Private Limited (AGPL) for up to INR 703.00 crores.
2. Acquisition of 24% equity stake in HALPG from Vopak India B.V for up to INR 331.00 crores.

These transactions are valued at 113.19% and 53.29% of AVTL's consolidated turnover, respectively, making them material related party transactions requiring shareholder approval.

Strategic Rationale for the Acquisition

The proposed acquisition of HALPG is aligned with AVTL's strategic objectives:

1. Consolidation of LPG Throughput: The acquisition aims to bring HALPG's Haldia terminal under AVTL's umbrella, consolidating LPG throughput services from various locations across India (excluding the Mumbai Terminal).

2. East Coast Access: HALPG's terminal in Haldia, West Bengal, could give AVTL a strategic presence on India's East coast, complementing its existing terminals on the West coast.

3. Capacity Expansion: The acquisition would add 25,000 Metric Tons of static capacity, potentially increasing AVTL's total capacity to 225,800 MT across Pipavav, Kandla, Mangalore, and Haldia locations.

4. Operational Synergies: HALPG's Haldia terminal, which handled 1.46 million MT of throughput in FY 2024-25, has the potential to achieve a maximum throughput capacity of around 2.5 million MT.

Board Appointment

In addition to the acquisition, AVTL is seeking shareholder approval for the appointment of Mr. Wimal Roy Shylindra Kumar Samlal as a Non-Executive Non-Independent Director. Mr. Samlal, currently serving as the senior vice president – Finance, Asia and Middle East in Vopak Asia Pte Ltd, Singapore, brings over 28 years of experience in financial activities to the board.

Voting Process

The company has initiated an e-voting process for these resolutions, which will run from November 1, 2025, to November 30, 2025. Results are expected to be announced by December 2, 2025.

Financial Implications

The proposed transactions are based on independent valuation reports prepared by Deloitte Haskins Sells, ensuring arm's length pricing. AVTL plans to finance the acquisition through internal accruals and ongoing fund-raising exercises.

These strategic moves by Aegis Vopak Terminals Limited reflect the company's ambition to strengthen its position in the LPG logistics sector and capitalize on the growing LPG consumption trend in India. Shareholders will play a crucial role in determining the future direction of the company through their votes on these significant proposals.

Aegis Vopak Terminals Limited has successfully executed a Share Purchase Agreement (SPA) dated January 02, 2026, marking a significant milestone in its acquisition of a 75% equity stake in Hindustan Aegis LPG Limited (HALPG). The company has formally entered into the agreement with Aegis Gas (LPG) Private Limited (AGPL), Vopak India B.V., and HALPG for the Rs 1,130 crore transaction.

Share Purchase Agreement Details

Transaction Structure and Governance

The Share Purchase Agreement provides Aegis Vopak Terminals with the right to appoint a nominee director on HALPG's board, effective from the date of share purchase completion. This governance provision will enable the company to have direct oversight of HALPG's operations and strategic direction.

The transaction has been structured as a related party transaction, with both AGPL and HALPG forming part of Aegis Vopak's promoter group, while Vopak India B.V. is one of the company's promoters. Despite the related party nature, the transaction has been determined based on an independent valuation report and is being conducted on an arm's length basis.

About Hindustan Aegis LPG Limited

HALPG, incorporated in 1994, specializes in the storage and terminalling of LPG and allied products. The company has demonstrated consistent growth in its operations:

Regulatory Compliance and Approvals

The acquisition process has followed all necessary regulatory procedures. The company had initially disclosed the acquisition proposal on October 29, 2025, followed by shareholders' approval through postal ballot on December 01, 2025. The execution of the Share Purchase Agreement represents the culmination of these regulatory processes.

The disclosure has been made pursuant to Regulation 30 of SEBI LODR read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring full compliance with listing obligations.

Strategic Impact

Upon completion by January 15, 2026, HALPG will become a subsidiary of Aegis Vopak Terminals Limited. This acquisition will strengthen the company's position in the LPG storage and terminalling sector, particularly at the Haldia location in West Bengal. The move aligns with Aegis Vopak's strategy to expand its terminalling business, complementing its existing network of 20 tank terminals across six Indian ports with a total storage capacity of 1.7 million cubic meters for liquid storage and 201,000 MT for LPG.