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Aegis Logistics has filed a DRHP with SEBI for the IPO of Aegis Vopak Terminals Limited, aiming to raise up to INR 35 billion to reduce debt. Despite a reported 8% YoY increase in EBITDA for 2QFY25, results fell short of estimates, prompting a Neutral rating with a target price of INR 795, reflecting high current valuations. The company anticipates a 25% CAGR in PAT over the next three years, supported by nearing capacity expansions at Mangalore, Pipavav, and JNPT.
Dr Reddy’s Labs, JSW Steel, Tata Power, PSP Projects, Strides Pharma, UPL, and Aegis Logistics are in focus on Thursday due to significant market developments. PSP Projects is set to see a major shift as Adani Infra (India) has signed agreements to acquire up to a 30.07% stake from promoter Prahladbhai S Patel for Rs 685.4 crore, alongside an open offer for an additional 26% stake at Rs 642.06 per share.
Aegis Vopak Terminals, the largest third-party tank storage company in India, plans to raise Rs 3,500 crore through an initial public offering, having filed a draft red herring prospectus with SEBI. The IPO will consist entirely of a fresh issue, with no offer-for-sale component, ensuring all proceeds benefit the company. Additionally, the Mumbai-based firm may consider a pre-IPO placement of up to Rs 700 crore, which would be deducted from the fresh issue amount.
On Monday, traders are advised to consider strategies for stocks including SBI Life, Axis Bank, Indian Hotels, Zomato, and Aegis Logistics. Additionally, there is an option to receive push notifications for relevant content and transaction updates.
Aegis Logistics has invested Rs 300 crore in its subsidiary Aegis Vopak Terminals (AVTL) through a preferential allotment, increasing its stake to 51.14%. This investment comes ahead of AVTL's planned Rs 4,000 crore IPO, driven by a 44% year-on-year growth in FY24 turnover, reaching Rs 417.93 crore, fueled by strong demand in the logistics and storage sector for gas and chemicals. Aegis Logistics, with a market capitalization of Rs 28,000 crore, aims to leverage this growth phase through its subsidiary.
Narayana Hrudayalaya, Aegis Logistics, AGS Transact Tech, and Tata Investment are among the key stocks to watch on Muhurat Trading Day. Other notable mentions include Alembic Pharmaceuticals, Dalmia Bharat, and Electronics Mart India. Additionally, Bondada Engineering, Challani Capital, Lykis, and Nutraplus India are set to release their quarterly earnings today.
AEGIS LOGISTICS LIMITED
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