Latest news with #AegisVopakTerminals
Business Standard
11-07-2025
- Business
- Business Standard
Aegis Logistics sells pipavav LPG terminal to Aegis Vopak Terminals for Rs 428 crore
Aegis Logistics said it has executed a business transfer agreement (BTA) with its associate company, Aegis Vopak Terminals (AVTL), for the transfer of its newly commissioned LPG cryogenic terminal at Pipavav. Shares of Aegis Vopak Terminals fell 2.30% to Rs 255.28 on the NSE. The transaction, completed on 10 July 2025, is structured as a slump sale on a going-concern basis. The terminal, which has a static storage capacity of 48,000 metric tonnes, was commissioned on 3 July 2025. As a result, there was no contribution to turnover or net worth from the unit as of 31 March 2025. The consideration for the transfer is Rs 428.4 crore in cash. The transaction qualifies as a related party transaction but has been executed on an arms length basis. It is outside the scope of a scheme of arrangement and does not fall within the definition of undertaking under SEBI LODR regulations. Aegis Logistics clarified that the move is intended to consolidate LPG terminalling services under Aegis Vopak Terminals Limited, enhancing operational synergies and supporting growing demand at Pipavav Port. There is no change in the shareholding pattern of the company as a result of this transfer. Aegis Logistics is engaged in the import and distribution of liquefied petroleum gas (LPG), as well as the storage and terminalling of LPG, petroleum, oil, and chemical products. The company also undertakes the construction of terminals and allied infrastructure to support its logistics and energy operations. Aegis Vopak Terminals owns and operates storage terminals for liquefied petroleum gas (LPG) and various liquid products.
Business Standard
28-06-2025
- Business
- Business Standard
India Ratings & Research revises rating outlook Aegis Vopak Terminals to 'positive'
Aegis Vopak Terminals said that India Ratings & Research has revised the outlook on the company's bank facilities to 'positive' from 'stable' while affirming credit rating on the same at 'IND AA'. The agency has also affirmed the companys short term rating at IND A1+. India Ratings & Research stated that the positive outlook reflects a likely improvement in the consolidated scale of operations in the near term, led by operationalisation and ramp-up of the newly added and upcoming capacities to meet the rising import/export demand for liquid and liquefied petroleum gas (LPG) in India. The overall operational liquid capacity and LPG static capacity continue to increase, and presently stand at 1.9 million kilolitre (kl) (FYE24: 1.6 million kl) and 1,99,000 metric tonnes (MT) (1,17,000 MT), respectively. The company plans to augment its liquid storage capacity by 176,000kl at various locations and its static LPG storage capacity by 48,000MT at Pipavav over FY26-FY27. Furthermore, it plans to add an ammonia terminal with a static storage capacity of 36,000MT at a capex of around Rs 5.3 billion at Pipavav. The consolidated EBITDA improved to Rs 11.0 billion in FY25 (FY24: Rs 9.2 billion; FY23: Rs 6.7 billion) and is likely to continue to improve in the medium term, supported by continued ramp-up of the newly added and upcoming capacities. Furthermore, in June 2025, Aegis Vopak Terminals (AVTL) has successfully raised funds amounting to Rs 28 billion through an initial public offering (IPO), enabling term debt repayment of Rs 20.2 billion. This has led to a substantial improvement in the capital structure, allowing significant headroom for capacity expansion over the medium term. India Ratings expects the company to achieve a net cash position in FY26, led by debt repayment and high cash balances. The company, apart from liquid and LPG capacity additions, is also evaluating opportunities in the ammonia terminal, industrial terminal and alternative energies and the management has envisaged a cumulative capex of Rs 90 billion by FY30 with a step-up in the annual capex run rate. The agency believes this might lead to debt-funded capex, and hence, the companys net leverage might turn positive again over the medium term. India Ratings notes the precedence of conservative funding strategy for the companys growth investments and the recent fund raise to support the same. However, the impact of the higher-than-expected capex, acquisitions, newly added capacities utilisation levels and return profile of newer segments such as ammonia terminals on the credit metrics will continue to be a key rating monitorable. With respect to AVTLs IPO, the promoters, AELL and Vopak, are required to dilute around 12% additional stake as part of the regulation to meet minimum public shareholding requirement within three years of the IPO, and would thereby be able to raise additional equity, leading to lower debt drawdown for the planned capex. Aegis Vopak Terminals is a JV between AELL and Vopak, a Dutch company that provides storage and logistics solutions for chemicals, oils, gases, LNG and biofuels. The company owns and operates terminalling assets in Pipavav, Haldia, Kandla, Kochi, JNPT and Mangalore. The scrip rose 0.85% to end at Rs 254.55 on the BSE on Friday.
India Today
19-06-2025
- Business
- India Today
Stocks to watch June 19: HDFC Bank, Jio Financial, Hero, Abott, Tata Elxsi
Stock markets ended slightly in the red on Tuesday, continuing a phase of consolidation. With the US Federal Reserve deciding to keep its key lending rate unchanged, traders and investors in India may react cautiously in today's session. On June 19, several companies will be in focus due to corporate actions, new developments, or earnings Aegis Logistics and Aegis Vopak Terminals will announce their quarterly results today. Investors will closely watch their performance, especially in light of global supply chain movements and energy BANK HDFC Bank may draw attention as its CEO Sashidhar Jagdishan has approached the Bombay High Court seeking to cancel an FIR filed against him by the Lilavati Trust. The matter is likely to stay in focus until further updates come MOTOCORPHero MotoCorp has announced the launch of its Vida VX2 electric scooters. The rollout will begin on July 1, 2025. The scooters will be offered with a Battery-as-a-Service model, which means customers can use the battery on a subscription basis rather than buying it outright. This move could improve the affordability and reach of electric vehicles in INDIAAbbott India has entered into a distribution agreement with MSD Pharmaceuticals. The partnership aims to widen access to MSD's oral anti-diabetes medicines in India. The agreement includes Sitagliptin-based products that are used to manage Type 2 diabetes. This deal is expected to strengthen Abbott's reach in the diabetes treatment ENERGYShares of Siemens Energy India will debut on the stock market today following its demerger from parent company Siemens. The listing comes after months of preparation, and investors will be watching how the shares perform on the first day of FINANCIAL SERVICESJio Financial Services acquired over 7.9 crore equity shares worth Rs 104.54 crore of Jio Payments Bank (JPBL) from the State Bank of India (SBI). This transaction took place after receiving approval from the Reserve Bank of India on June 4. The deal strengthens Jio Financial's position in the digital banking and payments SMALL FINANCE BANKESAF Small Finance Bank has approved the sale of a group of non-performing and technically written-off loans worth Rs 735.18 crore to an asset reconstruction company (ARC). The move is part of the bank's plan to clean up its balance sheet and reduce bad ELXSITata Elxsi has partnered with Infineon Technologies to co-develop application-ready electric vehicle (EV) solutions for the Indian market. The partnership will focus on designing systems that are tailored for local needs, helping manufacturers build efficient and affordable estate developer Puravankara has secured a new project in Bengaluru. The company bagged a contract worth Rs 272 crore for a residential development, which could support its revenue growth in upcoming LIFESCIENCESZydus Lifesciences is also in focus after the US Food and Drug Administration (US FDA) issued two observations following an inspection at the company's oncology injectable unit located at SEZ 1 near Matoda, Ahmedabad. Investors will be awaiting further clarity on the impact of these observations.
Business Standard
12-06-2025
- Business
- Business Standard
Aegis Logistics' arm commissions Cryogenic LPG terminal at Mangalore
Aegis Logistics has announced that its wholly owned subsidiary, Sea Lord Containers (SCL), has commissioned a cryogenic Liquified Petroleum Gas (LPG) terminal at Mangalore. The terminal, which has a static storage capacity of 82,000 metric tonnes, commenced operations on 12 June 2025, for the storage and terminalling of liquified petroleum gases. The said terminal, developed by SCL on behalf of Aegis Vopak Terminals, an associate company, the terminal will be transferred to Aegis Vopak Terminals at a later date. The company will provide further updates to the stock exchanges in due course. Aegis Logistics is engaged in the import and distribution of liquefied petroleum gas (LPG), as well as the storage and terminalling of LPG, petroleum, oil, and chemical products. The company also undertakes the construction of terminals and allied infrastructure to support its logistics and energy operations. The companys consolidated net profit declined 4.5% to Rs 124.25 crore on an 8.9% fall in net sales to Rs 1,706.99 crore in Q4 FY25 over Q4 FY24. The scrip shed 0.04% to Rs 802.30 on the BSE.
Economic Times
02-06-2025
- Business
- Economic Times
The Leela Hotels, Aegis Vopak Terminals shares surge up to 10% post listing. What should investors do now?
Shares of Aegis Vopak Terminals and The Leela Hotels (Schloss Bangalore) rebounded up to 10% on the BSE after a weak listing on Monday. ADVERTISEMENT Aegis Vopak Terminals listed at Rs 220, a 6.4% discount to its IPO price of Rs 235. However, the stock quickly bounced back, hitting the 10% upper circuit at Rs 241.95. Schloss Bangalore, which owns and operates luxury properties under the iconic "The Leela" brand, debuted at Rs 406 on the NSE and Rs 406.50 on the BSE, a discount of about 6.6% from the issue price of Rs 435. It later surged nearly 7% to reclaim the IPO price level. Expert View"Aegis Vopak Terminals listed at a discount due to muted investor enthusiasm despite strong institutional backing. With the retail and HNI segments under-subscribed, concerns around valuation were evident. Long-term investors may wait for further consolidation before entering, given the company's robust expansion outlook," said Satish Chandra Aluri of Lemonn Markets The Leela Hotels, Aluri added, 'Despite the strength of its brand and institutional interest, retail and HNI participation remained weak. The flat grey market premium had already signaled a subdued listing. Valuation concerns continue to weigh on investor sentiment.' ADVERTISEMENT The IPO, entirely a fresh issue of 11.91 crore shares, was subscribed 2.09 times overall, driven by Qualified Institutional Buyers (QIBs), whose quota was subscribed 4.34 times. In contrast, the non-institutional investor (NII) and retail portions were subscribed just 0.32 and 0.70 times, respectively. Aegis Vopak Terminals is a joint venture between Aegis Logistics and Netherlands-based Royal Vopak. The company operates LPG and liquid storage terminals at five major Indian ports—Haldia, Kochi, Mangalore, Pipavav, and Kandla—with a total capacity of 1.5 million cubic meters for liquids and 70,800 MT for LPG. ADVERTISEMENT The Leela Hotels IPO comprised a fresh issue worth Rs 2,500 crore and an offer for sale of Rs 1,000 crore. The issue was subscribed 2.62 times overall, with QIBs bidding 4.34 times their allotment. Retail and HNI participation lagged at 0.70 and 0.32 times, by Brookfield-managed funds, the company owns five luxury hotels across Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. It also manages several other Leela-branded properties, with a total operational portfolio of 12 hotels and 3,382 keys, positioning it among India's largest luxury hospitality operators. ADVERTISEMENT Proceeds from the fresh issue will be used to repay borrowings at key group properties and for general corporate purposes. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
