Aegis Vopak Terminals looks to raise around $500 million in a $3-billion IPO
Mint, a spokesperson for Aegis Logistics, said, “Aegis Vopak Terminals Ltd (AVTL) is exploring options to fund future growth for AVTL. These options may include, among others, a potential fund raise by way of public issue, preferential issue, or a combination thereof, of the equity shares and debt for the JV company and as may be decided by the AVTL board in absolute discretion and permitted under applicable laws and regulations." The spokesperson added that the company has not yet made a final decision regarding the IPO, and it is still exploring its future funding options.
“No final decisions have been made at this point in time and there is no certainty on the outcome of this exploration of growth funding options. Further announcements will be made as and when required.
No further details can be disclosed," the spokesperson said. Spokespersons for BNP Paribas, ICICI Securities, IIFL Securities and Jefferies, did not respond to queries sent by Mint.
Aegis Vopak joins a growing list of global companies that are looking to list their Indian subsidiaries in the domestic market. For instance, South Korean carmaker Hyundai, and white goods manufacturer LG Electronics, along with Italy-based automotive components maker Carraro, among others, are either already in the process of listing or contemplating one.
Some previous examples of multinational companies that have listed their Indian subsidiaries here, include Japanese automaker Suzuki’s Indian counterpart Maruti Suzuki; British consumer goods company Unilever’s Hindustan Unilever; Switzerland-based food and beverages company Nestle’s domestic arm Nestle India, and American oral hygiene brand Colgate Palmolive’s subsidiary by the same name. Siddharth Shah, a senior partner
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