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Aegis Logistics invests 300 crore in subsidiary ahead of IPO plans

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.
Moneycontrol
Indian Rupee Aegis Vopak Terminals Limited AEGIS LOGISTICS LIMITED Royal Vopak IND Michiel Gilsing Royal Vopak Show more
Finance & Economy, Market Report
04:51 01.11.2024

geopolitical tensions drive increased demand for oil storage solutions

Vopak NV is experiencing increased demand for oil storage due to geopolitical tensions and uncertainty in the oil market, leading the company to revise its annual profit outlook upward. Strong interest has been noted in key locations such as Rotterdam, the Middle East, and Singapore, with customers eager to renew and extend contracts.
Bloomberg.com
United States Dollar Euro Vopak India B.V. NLD SGP Michiel Gilsing
Finance & Economy, Market Report
12:20 30.10.2024
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