Aegis Vopak Terminals Limited , a leading provider of liquid and gas storage solutions in India, has announced a significant financial move alongside its latest quarterly results. The company's board has given the green light for the issuance of Non-Convertible Debentures (NCDs) worth ₹660 crore, marking a strategic step in its financial planning.

NCD Issuance Details

The board of Aegis Vopak Terminals has approved the allotment of 66,000 Redeemable, Senior, Rated, Listed, Secured, Taxable Non-Convertible Debentures. Each debenture is valued at ₹1,00,000, culminating in a total issue size of ₹660 crore. This private placement is set to be listed on the National Stock Exchange (NSE).

Key features of the NCDs include:

• Tenure: 3 years (Maturity date: November 7, 2028)
• Interest Rate: 6.92% per annum, payable quarterly
• Principal Repayment: Bullet payment at maturity
• Security: Backed by tangible moveable fixed assets at Mangalore Port and the company's cash flows, receivables, and bank accounts

Q2 Financial Highlights

Alongside this development, Aegis Vopak Terminals has released its financial results for the second quarter, showcasing robust growth:

The company's performance demonstrates strong growth across all key financial metrics. The revenue split between gas and liquid terminalling segments stands at 43.5% and 56.5% respectively for the current quarter.

Operational Highlights

• Commissioned new LPG terminals at Pipavav (48,000 MT) and Mangalore (82,000 MT)
• Ongoing expansion at JNPA with ₹1,675 crore investment for new liquid and LPG capacities
• Construction of India's first independent ammonia terminal (36,000 MT) at Pipavav
• On track to reach a capex of USD 1.2 billion by FY27 and USD 5 billion by 2030

Management Commentary

Raj K. Chandaria, Chairman & Managing Director, stated, "Our Q2 results reflect the strength of our business model and the growing demand for our storage solutions. The approval for NCD issuance will provide us with the necessary capital to fuel our ambitious expansion plans and reinforce our position as India's leading third-party liquid and gas storage provider."

Aegis Vopak Terminals continues to capitalize on India's expanding energy logistics sector, with strategic investments in capacity and infrastructure. The company's focus on diversification and expansion across key ports positions it well for sustained growth in the coming years.

Aegis Vopak Terminals Limited has announced the complete utilization of its ₹2,800 crore Initial Public Offering (IPO) proceeds, according to the monitoring agency report for the quarter ended September 30, 2025. The company has strategically deployed the funds across various objectives, adhering to its stated goals in the offer document.

Breakdown of Fund Utilization

The IPO proceeds were allocated as follows:

Key Highlights

• Debt Repayment: The company fully utilized ₹2,015.95 crore for repaying or prepaying certain outstanding borrowings.
• Capital Expenditure: ₹671.30 crore was deployed towards the contracted acquisition of a cryogenic LPG terminal at Mangalore.
• General Corporate Purposes: An additional ₹1.37 crore, originally earmarked for issue expenses, was redirected to general corporate purposes, bringing the total to ₹5.00 crore. This amount was used for lease liability payments.
• Issue Expenses: The actual spending on issue-related expenses was ₹83.36 crore, lower than the initial estimate of ₹109.12 crore.

Monitoring Agency Findings

CARE Ratings Limited, appointed as the monitoring agency, reported no deviations from the stated objectives. The report indicates that all statutory approvals have been obtained, and no major deviations were recorded since the last monitoring report.

Remaining Balance

A balance of ₹25.66 crore remains, comprising ₹0.04 crore in the Monitoring Account and ₹25.62 crore in the Public Issue Account.

Market Impact

The strategic deployment of IPO proceeds, particularly in debt repayment and capital expenditure, may potentially strengthen Aegis Vopak Terminals' financial position and operational capabilities. The acquisition of the cryogenic LPG terminal at Mangalore could expand the company's footprint in the liquid storage and handling sector.

Investors and market analysts may view this complete utilization of funds positively, as it demonstrates the company's commitment to its growth strategy and financial prudence.

As Aegis Vopak Terminals continues to execute its business plans, the market will likely keep a close watch on how these investments translate into operational performance and financial results in the coming quarters.