Aegis Vopak Terminals Ltd. Approves Sale of Stake in Subsidiary, Assigns Rights for Ammonia Storage
Aegis Vopak Terminals Limited announced on March 26, 2026, that its Board of Directors has approved the proposed sale of a 10% equity stake in Aegis Terminal (Pipavav) Limited (ATPL), a subsidiary company, to Itochu Corporation. The aggregate consideration for the sale is INR 80,32,00,000. Following the sale, Aegis Vopak Terminals Limited will retain an 86% equity stake in ATPL.Additionally, the Board approved the assignment of rights to acquire a specialized storage terminal for Ammonia at Pipavav Port to ATPL. This assignment references a prior agreement dated June 19, 2025, involving Aegis Logistics Limited, a promoter company. A Business Transfer Agreement between ATPL and Aegis Logistics Limited will follow completion of the project.
According to information disclosed, ATPL’s turnover or revenue or income for the fiscal year 2024-25 was nil due to the fact it has yet to begin commercial operations. The net worth of ATPL for the same period was negative INR 1,98,053.
The sale agreement with Itochu Corporation is expected to be finalized, and a formal announcement regarding the agreement will be provided to the stock exchange at that time. The completion of the sale is anticipated to occur on or before April 15, 2026. Itochu Corporation is not affiliated with the promoter or promoter group of Aegis Vopak Terminals Limited.
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