Aegis Vopak Terminal IPO GMP
The IPO at Aegis Vopak terminal, which is open from May 26th to May 28th, received a warm response with an overall subscription of 2.09 times. The issue consisted only of fresh issues of stocks of 11.91 crore priced in the range of Rs 223-235 per share.
Aegis Vopak Shares’ Gray Market Premium (GMP) is currently only Rs 1, suggesting a list of around Rs 236.
Aegis Vopak Terminal, a joint venture between Aegis Logistics and Dutch company Vopak, operates 18 terminals in five major Indian ports. It boasts over 1.5 million cubic meters of liquid storage and an LPG storage capacity of 70,800 mt. The proceeds from the IPO will fund debt repayments, acquisitions of Mangalore’s cryogenic terminals, and will be used for general corporate purposes.
Leela (Schloss Bangalore) IPO GMP
The IPO of Shlos Bangalore, which owns and operates Leela’s palaces, hotels and resorts, saw a 4.5x subscription. However, enthusiasm was driven primarily by qualified institutional buyers (QIBS) who subscribed 7.46 times. In comparison, the retail quota has been subscribed only 0.83 times and the non-facilities investor (NII) segment only has 1.02 times, indicating restrained interest outside the facility’s circle. Currently, the GMP of Schloss Bangalore is at Rs 2, indicating that it is likely at Rs 437, which may oppose the minimum value of Rs 437 against Rs 435 in RS 437. The hospitality company manages 12 luxury hotels under Leela Brand. The revenue from the IPO will be used for general corporate purposes, reducing corporate and subsidiaries-level debt, such as real estate in New Delhi, Chennai, Udaipur and Jaipur.
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