Vopak’s joint venture AVTL has successfully completed its IPO in India, the company announced on LinkedIn.
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 crystallises 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.’
AVTL commenced trading 2 June 2025, at the National Stock Exchange of India Limited and BSE Limited.
The issue price for the IPO was INR 235 per share which is at the top end of the previously announced price band. The size of the primary equity issue is INR 2,800 crore (approximately €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%.
The transaction will result in an exceptional dilution gain for Vopak of approximately €110 million to be recorded in Q2 2025 financials.
More information is available via an audio webcast which is now available.
