New Delhi, May 21 -- Aegis Vopak Terminals IPO, which will open for subscription on May 26 and close on May 28, has set the price band at Rs.223 to Rs.235 per share, with a face value of Rs.10 per share.

The company has reduced the size of its IPO to Rs.2,800 crore, down from the previously planned Rs.3,500 crore. The entire IPO will consist of a fresh issue of shares. At the upper price band, the company's total market capitalization is estimated at Rs.26,000 crore.

Funds raised through the IPO will be used primarily for repaying debt and capital investments, including the acquisition of a cryogenic LPG terminal in Mangalore under an existing agreement.

Approximately 75 per cent of the IPO has been allocated to qualified institutional...