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.

Aegis Vopak Terminals , a leading player in India's liquid and gas storage infrastructure sector, is embarking on an ambitious expansion drive, with plans to significantly boost its capacity and reach across the country.

Major Expansion Plans

The company has announced a substantial ₹1,675 crore project at Jawaharlal Nehru Port Authority (JNPA), marking a significant step in its growth strategy. This expansion includes:

• A new 318,100 cbm liquid capacity terminal
• A 77,286 MT LPG terminal
• A 35,000 MT per annum bottling plant

Additionally, Aegis Vopak is expanding its footprint with new LPG terminals at Pipavav (48,000 MT) and Mangalore (82,000 MT), both of which are now revenue-accretive.

Diversification and Future-Ready Infrastructure

In a move to diversify its portfolio, the company is constructing India's first independent ammonia terminal at Pipavav, with a capacity of 36,000 MT. This facility is expected to be operational before Q1 FY27, positioning Aegis Vopak at the forefront of emerging market trends.

Ambitious Capital Expenditure Plans

Aegis Vopak Terminals aims to reach a capital expenditure of $1.2 billion (approximately ₹10,000 crore) by FY27, with plans to further expand to $5 billion by 2030. The company plans to maintain a prudent leverage ratio of 0.6x, indicating a balanced approach to growth and financial stability.

Financial Performance

The company's Q2 results reflect strong growth:

Strategic Acquisitions and Capacity Enhancement

Aegis Vopak has also made strategic moves to consolidate its position in the LPG market:

• Acquired a 75% stake in Hindustan Aegis LPG Ltd (HALPG), adding 25,000 MT LPG capacity
• This acquisition provides an entry into the East Coast market at Haldia
• The company's total LPG capacity now stands at 225,800 MT

Outlook

With its extensive expansion plans and strategic acquisitions, Aegis Vopak Terminals is positioning itself as a key player in India's growing energy logistics sector. The company's focus on diversification, including entry into the ammonia segment, and its pan-India network expansion strategy suggest a strong growth trajectory in the coming years.