Aegis Vopak Terminals Ltd. has announced that its board of directors has approved a proposal to raise ₹4,000 crore through an initial public offering (IPO) and an additional ₹800 crore via private placement. The IPO will consist of a fresh issue of equity shares, each with a face value of ₹10, as stated in the company's exchange filing.

The IPO is subject to regulatory approvals and market conditions, while the preferential issue will be conducted on a private placement basis for ₹800 crore.

For the second quarter of the financial year, Aegis Logistics reported a modest year-on-year increase of 1% in net profit, amounting to ₹152.02 crore, aligning closely with analysts' expectations of ₹151 crore. Revenue saw a significant rise of 41.8% year-on-year, reaching ₹1,750.42 crore, although it fell short of analysts' projections of ₹1,856 crore.

Operating income, or EBITDA, increased by 8% year-on-year to ₹223.94 crore. However, the EBITDA margin contracted to 12.8% from 16.9% in the same period last year, with analyst expectations for EBITDA and margin set at ₹266 crore and 14.40%, respectively.

Following the announcement, Aegis Logistics shares experienced a decline, trading as much as 3.18% lower during the day to ₹723.65 on the NSE. The stock ultimately closed down 1.02% at ₹739.80, while the NSE Nifty 50 Index saw a slight advance of 0.70%.

Over the past year, Aegis Logistics shares have surged by 149.81% and have increased 111.64% year-to-date. Among analysts tracking the company, six maintain a "buy" rating, one recommends a "hold," and one suggests a "sell," according to Bloomberg data. The average 12-month consensus price target indicates a potential upside of 14%.