Aegis Vopak & Seshaasai Get Sebi Approval for IPOs

New Delhi, Apr 15 (PTI) Aegis Vopak Terminals and Seshaasai Technologies have received Sebi's go-ahead to raise funds through initial public offerings (IPOs), an update with the regulator showed on Tuesday.

The companies are expected to raise more than Rs 4,000 crore through initial share sales. The two firms, which filed their preliminary IPO papers with Sebi during November and December 2024, obtained observations from the regulator during April 7 to 11, the update showed.

In Sebi's parlance, obtaining the observations means its go-ahead to float the public issue.

Meanwhile, the regulator has returned the draft offer document of Rajputana Stainless Ltd on April 11.

As for Aegis Vopak Terminals, it is planning to float a Rs 3,500-crore IPO, which is entirely a fresh issue of equity shares, according to the draft red herring prospectus (DRHP).

The tank storage company for LPG and chemicals plans to utilise proceeds for payment of debt, fund capital expenditure for the acquisition of a cryogenic LPG terminal at Mangalore and for general corporate purposes.

Seshaasai Technologies' issue is proposed to be a mix of fresh issue of equity shares of worth Rs 600 crore and an OFS of up to 78.7 lakh equity shares.

Proceeds from the fresh issue will be allocated for the expansion of existing manufacturing units, payment of debt and for general corporate purposes.

The company is a technology-driven multi-location solutions provider offering payments solutions and communications and fulfilment solutions. It designs and develops instruments such as debit cards, credit cards, pre-paid cards, mass transit cards and cheques and securely embed customer data onto them and sends them to end customers.