AVTL, a joint venture of Aegis Logistics and Vopak India BV, has successfully completed its IPO. The issue price for the IPO was Rs. 235 per share which is at the top end of the previously announced price band. The size of the primary equity issue is Rs. 2,800 crore (approximately EUR 290 million).

The board of AVTL issued an equivalent of 10.75% of new equity shares. As a result of the issuance of new shares, Vopak’s shareholding reduced from 47.31% to 42.23%.

AVTL commenced trading today, Monday 2 June 2025, at the National Stock Exchange of India Limited and BSE Limited.

Dick Richelle, CEO of Royal Vopak: “We are very pleased with the successful realisation of AVTL's IPO, a significant milestone reflecting the strong partnership and collaborative spirit between Aegis Logistics and Vopak. The IPO also successfully crystallizes value for Vopak shareholders and strongly supports Vopak's strategy of expanding our portfolio of gas and industrial terminals. With continued investments in critical infrastructure we are helping the world flow forward."

The transaction will result in an exceptional dilution gain for Vopak of approximately EUR 110 million to be recorded in Q2 2025 financials.