IPOs On The Horizon: Aegis Vopak and Seshaasai Set To Raise Over Rs 4000 Crore

Aegis Vopak Terminals and Seshaasai Technologies have received approval from SEBI to raise funds through IPOs, aiming to gather over Rs 4,000 crore. The funds will support debt payment, capital expenditures, and corporate expenses. Seshaasai will also use the funds for manufacturing expansion.

Aegis Vopak Terminals and Seshaasai Technologies have secured approval from the Securities and Exchange Board of India (SEBI) to pursue fundraising through initial public offerings (IPOs), according to a recent regulatory update on Tuesday.

The two companies are projected to collectively amass over Rs 4,000 crore through the upcoming share sales, with Aegis Vopak Terminals planning a significant Rs 3,500-crore IPO dedicated entirely to fresh equity shares. Proceeds are earmarked for debt payments, funding a cryogenic LPG terminal acquisition in Mangalore, and general corporate uses.

Seshaasai Technologies is set to launch a mixed IPO, comprised of Rs 600 crore in fresh equity shares and an offer-for-sale of up to 78.7 lakh shares, aimed at expanding manufacturing capabilities and settling existing debts. The firm, known for its payments and communications solutions, embeds customer data onto products like debit and credit cards.

(With inputs from agencies.)