Aegis Vopak Terminals Limited (AVTL) announced board approval for two major strategic actions. First, the sale of a 10% equity stake (5,000 shares) in its subsidiary, Aegis Terminal (Pipavav) Limited (ATPL), to Itochu Corporation for ₹80.32 crore. Second, AVTL approved the assignment of rights to acquire the specialized Ammonia storage terminal at Pipavav Port to ATPL. Following the sale, AVTL will retain an 86% stake in ATPL.
Key Decisions from the Board Meeting
Aegis Vopak Terminals Limited (AVTL) conducted its Board Meeting on March 26, 2026, approving significant transactions detailed in its filing. These approvals focus on restructuring equity holdings in a key subsidiary and transferring strategic project rights.
Proposed Sale of Subsidiary Stake
The Board sanctioned the proposed sale of a 10% equity stake, equating to 5,000 Equity shares of INR 10/- each, in its subsidiary, Aegis Terminal (Pipavav) Limited (ATPL). The transaction is set to be executed with Itochu Corporation.
- Aggregate Consideration: The total sale value is fixed at INR 80,32,00,000/- (Rupees Eighty Crores and Thirty Two Lakhs Only).
- Post-Transaction Holding: Upon completion, AVTL will continue to hold 86% equity stake (43,000 Equity shares) in ATPL.
- Buyer Details: Itochu Corporation is confirmed as the buyer entity and is not affiliated with the promoter or promoter group companies.
- Timeline: The expected date for the completion of this transaction is on or before April 15, 2026.
- Financial Note: For FY 2024-25, ATPL had not commenced commercial operations, showing a negative net worth of Rs. 1,98,053/-.
Assignment of Pipavav Ammonia Terminal Rights
AVTL also approved the assignment of its rights to acquire the specialized storage terminal for Ammonia located at Pipavav Port to its subsidiary, ATPL. This decision follows an earlier Framework Agreement entered into with Aegis Logistics Limited (ALL) concerning the terminal, which has a static capacity of 36,000 MT.
Subsequently, upon the successful completion of the project by ATPL, a formal Business Transfer Agreement will be executed between ATPL and ALL. The Board confirmed that this transaction does not constitute a related party transaction.
The Board Meeting commenced at 04:30 p.m. and concluded at 05:00 p.m. on the date of the announcement.
Source: BSE
