Upcoming IPO Alert: Aegis Vopak Terminals Gets SEBI Nod For Rs 3,500 Crore IPO Launch

Logistics company Aegis Vopak Terminals Limited has received the final nod from the Securities and Exchange Board of India (SEBI) to launch its much-anticipated initial public offering (IPO) worth Rs 3,500 crore.

Incorporated in 2013, the Mumbai-based company is a strategic joint venture between Aegis Logistics Limited India and Royal Vopak of the Netherlands, operating across 6 key Indian ports like Haldia, Kandla, Pipavav, JNPT(upcoming), Mangalore, and Kochi along the east and west coasts of India. The company primarily deals with storage and transportation of LPG, oil, liquid chemicals, petrochemicals, gases, Bitumen, and vegetable oil products.

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Aegis Vopak Terminals submitted its draft papers for an IPO with SEBI in November 2024. Following this, the market regulator issued observation letter on the IPO proposal on April 7, 2025, enabling the company to move ahead with its IPO plans within a year from that date.

According to the Draft Red Herring Prospectus (DRHP), the IPO will comprise entirely of a fresh issuance of equity shares with a face value of Rs 10 each from Aegis Vopak Terminals. The shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The company intends to utilize the proceeds from the IPO, excluding issue expenses, for debt repayment, capital expenditure related to the acquisition of the cryogenic LPG terminal at Mangalore, and for other corporate-related general expenses.

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The issue will be managed by a consortium of lead book-running managers - ICICI Securities, BNP Paribas, IIFL Capital Services, Jefferies India, and HDFC Bank. Meanwhile, Link Intime India Private Limited has been appointed as the registrar for the same.

In a related development, Seshaasai Technologies, which provides payment, communication and fulfilment, and IoT solutions, also got a nod from SEBI to launch IPO, which will be a combination of fresh issuance of equity shares worth Rs 600 crore, and an offer-for-sale of 78.74 lakh shares by promoters Pragnyat Pravin Lalwani and Gautam Sampatraj Jain.

The technology solutions provider had filed draft red herring prospectus with the capital market regulator for its IPO on December 27 last year. The merchant bankers handling the public issue will be IIFL Capital Services, ICICI Securities, and SBI Capital Markets.

Seshaasai Technologies will utilize the proceeds from the issue for expansion of its current manufacturing units, repayment or prepayment of outstanding debts, and for other corporate-related general purposes.
Meanwhile, the market regulator has put the proposed IPO of WeWork India Management Ltd, a provider of flexible workspace solutions, under review.

Additionally, the IPO draft papers of stainless-steel products manufacturer Rajputana Stainless were returned by SEBI on April 11. The Gujarat-based company planned to raise funds through a combination of a fresh issue of 1.9 crore equity shares, and an offer-for-sale of 35 lakh shares by promoter Shankarlal Deepchand Mehta.