Shares of Aegis Logistics jumped 5.81 per cent to the day's high of Rs 784 on the BSE during intra-day trade on Tuesday. A combined total of nearly 0.071 million shares of Aegis Logistics, worth around Rs 54.92 crore, exchanged hands on the BSE and NSE today.
The northward movement in the Aegis Logistics’ stock price came following the news that Aegis Vopak Terminals (AVTL), a material subsidiary of the company, has approved a preferential issue up to an amount aggregating to Rs 800 crore on a private placement basis, as well as an initial public offering (IPO) worth around Rs 4,000 crore.
"...Initial Public Offer of equity shares of face value Rs 10 each of AVTL for an amount aggregating up to Rs 4,000 crore, subject to receipt of regulatory approvals and market conditions and subject to such variation as may be permitted under applicable law," Aegis Logistics said in a regulatory filing on the BSE. The IPO comprises a fresh issue of equity shares of face value Rs 10 each of AVTL (equity shares), for an amount aggregating up to Rs 4,000 crore.
Aegis Logistics is a leading Oil, Gas & Chemical Logistics company, operating state-of-the-art terminals across major Indian ports. Founded in 1956, the Mumbai-based company is publicly traded on BSE and NSE. Aegis is a dominant parallel marketer of LPG, with a robust presence in India through retail outlets, distributors, and industrial services. As of October 29, 2024, the company enjoys a market cap of Rs 26,991.90 crore.
The company's stock price has yielded a return of 111.7 per cent to its investors. Aegis Logistics shares have a 52-week range of Rs 969.95 - 280 on the BSE.
At around 2:39 PM, the company's stock was quoted trading at Rs 769, up 3.96 per cent from its previous close.
Meanwhile, benchmark equity indices BSE Sensex, and NSE Nifty50 were trading higher on Tuesday. The BSE Sensex was quoted at 80,338.97, up 333.93 points or 0.42 per cent, and the NSE Nifty at 24,430.80, up 91.65 points or 0.38 per cent.