Aegis Vopak Terminals Ltd IPO

Indias Largest Third-Party Owner and Operator of Tank Storage Terminals for LPG and Liquid Products.

Strategically Located Necklace of Terminals across the Indian Coast

Track Record of Consistently Expanding Capabilities and Well-Equipped Storage Infrastructure

Backed by Established promoters and Supported by a Strong Management Team

Relationships with Diversified Customer Base.

Focus on Sustainability and Health and Safety.

Strong Financial Metrics with a Growing Margin Profile and Return Metrics.

Its terminal services and other operations are subject to operational risks that could adversely affect its business, results of operations and financial condition.

The company derived 42.07%, 44.56%, 47.20% and 44.76% of its revenue from the companys top 10 customers in the last in Fiscal 2023 and 2024 and in the nine months ended December 31, 2023 and 2024, respectively. Any deterioration of their business, substantial reduction in their dealings with it or a loss of any of these customers could have an adverse effect on its business, results of operations, financial condition and cash flows.

The company significantly benefit from its relationship with the company Promoters. Any decline in this relationship could have an adverse effect on its business, results of operations, financial condition and cash flows.

The company operates as a joint venture between Aegis Logistics Limited and Vopak India BV and any conflicts between its Promoters could result in potential disruption in the company business and operations, which may adversely affect its business, results of operations, financial condition and cash flows.

The majority of its terminals are situated across the west coast of India. The company generated 91.61%, 92.28%, 91.31% and 92.82% in Fiscal 2023 and 2024 and in the nine months ended December 31, 2023 and 2024, respectively. Any adverse developments affecting its operations in such region, could have an adverse impact on its business, financial condition, results of operations and cash flows.

Some of the lease agreements entered into by one of its Subsidiaries, CRL Terminals, for its properties located at Kandla terminal have expired and have not been renewed at the time of filing this Red Herring Prospectus. Such non-renewal of lease may affect itd business as the company may be unable to carry out its business at such locations and this may have a material and adverse impact on the business of the Company. Further, the Company and its Subsidiary have not executed or registered and/ or have inadequately stamped, certain lease agreements in relation to some of the properties held by them.

As part of the Objects of the Issue, the Company proposes to use a portion of the Net Proceeds towards contracted acquisition of cryogenic LPG terminal at Mangalore from Sea Lord Container Limited, in relation to which a no-objection certificate (NOC) is required from the port of Mangalore by Sea Lord Container Limited In the event, Sea Lord Containers is unable to obtain such NOC in a timely manner or at all, its ability to acquire and operate such proposed terminal may be impacted.

The Company, Subsidiaries, Promoters, and Directors are involved in certain legal and regulatory proceedings. Any adverse decision in such proceedings may have an adverse effect on its business, financial condition, cash flows and results of operations.

Its Promoter, Aegis, and certain of its Group Companies are engaged in a similar line of business as the Company and may compete with it.

The company has certain contingent liabilities and commitments that have been disclosed in its financial statements, which if materialize, may adversely affect its results of operations, cash flows and financial condition.