The stock market is abuzz with the Aegis Vopak Terminals IPO as it presents a first of its kind opportunity to invest in one of the country’s storage and logistics operators. This ₹2,800 crore IPO as started on May 26, 2025, is in the limelight not only for its size, but also for its Grey Market Premium (GMP), a hint towards potential listing gains. Currently the GMP is sitting at ₹16 as of May 26, 2025, which is slightly down from a high of ₹17, suggesting some level of optimism. The article explains Aegis Vopak Terminals IPO GMP, the company’s operations and the impact on investors for those waiting for the allotment on May 29, 2025, and listing on June 2, 2025.
About Aegis Vopak Terminals
Aegis Vopak Terminals Limited, which was founded in 2013, is one of the leaders in India’s storage and logistics industry. The company manages a chain of 20 storage tank terminals at the six major indian ports of Haldia, Kandla, Pipavav, the upcoming JNPT, Mangalore and Kochi. Aegis Vopak has a storage capacity of 1.7 million cubic meters of liquids and 201 thousand metric tons of liquefied petroleum gas (LPG). The liquids stored include petroleum, vegetable oils, lubricants, chemicals and gas such as propane and butane.
The key differentiator for the company is the safety, sustainability, and reliability in all services offered as global health, safety, and environment standards are complied with. Aegis Vopak’s infrastructure such as jetty connectivity, truck loading stations and pipelines aid in the storage and movement of resources that are important as India progresses towards greener energy. The company leads the market with nearly 25.53 percent share of India’s third party liquids storage capacity which puts Aegis Vopak as one of the key players in the industry.
IPO Formulation
Through a new issue of equity shares aggregating to 11.91 crores, The Aegis Vopak Terminals IPO intends to raise ₹2,800 crore without an offer for sale from existing shareholders, making it a book-built issue. Highlights are provided below:
Detail-Information Table
Detail Information
IPO Open Date May 26, 2025
IPO Close Date May 28, 2025
Face Value ₹10 per equity share
Price Band ₹223–₹235 per share
Issue Size Approx ₹2,800 crore
Issue Type Book Built Issue
Lot Size 63 shares (₹14,049–₹14,805 for retail)
Retail Quota Not more than 10%
QIB Quota Not more than 75%
NII Quota Not more than 15%
Allotment Date May 29, 2025
Listing Date June 2, 2025
Listing Exchanges BSE, NSE
Registrar MUFG Intime India Private Limited
Lead Managers ICICI Securities, BNP Paribas, IIFL Securities, Jefferies India, HDFC Bank
As per the figures derived above, a retail investor can apply for the minimum of 63 shares, which is priced at ₹14,049 and ₹14,805 if priced at the Cut off price of ₹235. Small Non-Institutional Investors (sNII) need to bid for 14 lots (882 shares) at ₹207,270. Big Non-Institutional Investors (bNII) can apply for 68 lots (4,284 shares) at ₹1,006,740.
Additionally, the firm garnered institutional demand of ₹1,259.99 crore from 32 anchor investors at ₹235 a share prior to the opening of the public issue, indicating strong demand from the institutions (India Today).
GMP Insights
The Grey Market Premium (GMP) remains one of the most cited parameters for IPO investors since it assesses the fervor in the market before the listing. The Aegis Vopak Terminals IPO has had the following Gray Market Premium (GMP) fluctuations:
Date Information Details
GMP: ₹16 As of May 26, 2025, the GMP stands at ₹16 suggesting an anticipated listing price of approximately ₹249-₹251 and a potential return of 6-7% above the upper price range of ₹235 (Goodreturns). However, this estimation comes with the caveat that the GMP is not guaranteed, having recently experienced a decline from ₹17 on May 24, with some citing it as low as ₹10 suggesting a more conservative forecast of 4.26% (Groww).
It’s important to remember that trading activities listed above serve as estimates and highlight the speculative nature of the market. Subscription levels on the listing day, market volatility, and prevailing economic conditions have can strongly dictate the actual price in the market.
Investors tend to look at other alternative strategies to navigate through such changing domains making GMP a useful but unofficial measurement for said strategies.
Period of Subscription and the Market’s Outlook
During the first day of bidding on May 26, 2025, the Aegis Vopak Terminals IPO experienced a lackluster response as by 1.00 pm only 6% of the 6.90 crore shares that were offered had been subscribed to, which amounted to 44.84 lakh share applications. Retail investors consumed 13% of what had been reserved for them, whereas Non Institutional Investors (NIIs) only consumed 1% of what they were expected to take (Business Today). It seems that investors were not prepared to move right away, probably because of the high valuation or current market conditions.
Analysts still expect there to be a sizable gap between the listing price and the fundamental value of the company in the long term despite the company’s overall response on day one not meeting expectations (Goodreturns). ‘AVTL provides a differentiated investment thesis in an industry leading infrastructure company with solid fundamentals, growth strategies set to outpace the industry, and strong tailwinds,’ said Gaurav Garg from Lemonn Markets Desk (Goodreturns). Their business model which is based on high-value gas and chemical products also received praise from SBI Securities on whose behalf (Business Today) cited positive underlining parentage and diverse clientele and long-term client retention. Other experts also note that there is a downside risk as short term returns will be constrained due to the high valuation. This might limit the idea of this IPO to investors willing to employ a medium to long term strategy.
Should You Subscribe?
The IPO has carved a place for itself in the bustling notification centers of India’s energy and logistics infrastructure. This is especially true considering the sheer volume of infrastructure yet to be built for its growning poential. The gap between sixth and seventh position in the world’s ports clearly identifies this as a blue ocean for investment opportunity. The nascent position that this firm occupies in liquid storage, Vopak’s and other firm’s focus on SPC makes them a strong contender for investment in future. Listing on premium would warrant listing range checking subscription intentions; nevertheless, the subdued interest on day 1 signals that post covid caution has set in with investors.
Apart from the other segments of Aegis, Tier 3 and 4 cities account for a large chunk of the idle, rotary population on the move, brining the cost-of-entry to 70,000 mu to the bearable level. Though the tolerant appetite for investment within the Vyapar region, Kanpur, accompanies aggressive offerermarketing timelines for their business flyers. Investments will have to give careful thought to markts volatility, valuations soly ridden, providing more space for the inclined ower.
A storm is brewing, though, for investors with a solid long-term view while skirting distraction: high funding costs and fast so-considered-to-be-direct future market biases all blend into a piquant mixture; taking risks while having fun, those willing to channel musically to rise . In the end the ships will have sailed so strong navy already posed – vague, shifting sentiment trend alliance makes the targets for settlement unclear windows usually have the upside movement and value along pace.
How to Track Allotment and Listing
The allotment for Aegis Vopak Terminals IPO should reach the counters at the last permalink within eight minutes and 29 seconds, with refund boxes unlocked simultaneously. These are available for all Tier 3 and 4 cities holding traffic with all verticals for access. Participants can follow these through:
BSE/NSE Websites: Utilize the feature that allows you to track the status of your IPO application using a PAN or application number.
They plan on listing the shares on BSE and NSE on June 2, 2025. Monitoring GMP trends and subscription level updates in the coming days will help investors understand market sentiment ahead of the listing.
Conclusion
The Aegis Vopak Terminals IPO is not only the most important event financially, but rather an opportunity to become part of a company that is transforming the energy and logistics landscape in India. Investors with a GMP of ₹16 and a listing date of June 2, 2025, are hopeful for reasonable returns, but the company’s high valuation and slow initial subscriptions warrant some caution. From retail investors living in a fantasy world where listing day profits await them, to conservative long-term investors speculating on infrastructure growth, this IPO has something for everyone. Whatever prize you are chasing, this is an opportunity that comes with many strings attached.
