New Delhi, May 26 -- Aegis Vopak Terminals, India's largest tank terminal operator, on Monday launched its Rs.2,800-crore initial public offering (IPO), marking a key capital markets debut for a company central to India's liquid and gas storage infrastructure.

Formed in May 2022 as a joint venture between Aegis Logistics and Vopak India BV, a unit of global major Royal Vopak, the company has quickly scaled up, building 18 liquid terminals at six ports and two LPG terminals. These terminals store petroleum products, vegetable oils, lubricants, chemicals, and gases such as LPG, propane, and butane.

Liquid and gas storage currently account for about 54.36% and 45.64% of its revenues, respectively. A new ammonia storage facility is expected...