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Date: 28/04/2025

Dutch group Vopak’s Indian JV gets approval for IPO

Dutch tank storage group Vopak has received conditional approval for the initial public offering (IPO) of its Indian joint venture Aegis Vopak (AVTL) from the country’s markets regulator, it is learnt. Vopak said last November that AVTL - a joint venture between India’s Aegis Logistics and Vopak - had filed for an IPO worth 35 billion rupees ($409.70 million) with the Securities and Exchange Board of India. The company, which has storage terminals in seven Indian ports, expects to profit from the dynamic growth of the country’s economy, with plans to invest in its liquefied petroleum gas (LPG) market. The IPO proceeds will mainly be utilised for debt repayment and the acquisition of an LPG terminal in the southern Indian city of Mangalore, Vopak said last November, as per a report.
 
Source: Exim News Service: Mumbai, April 27



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