New Delhi, May 30 -- Aegis Vopak Terminals IPO: The IPO of Aegis Vopak Terminals, which recently concluded, is set to debut on the Indian stock exchanges on Monday, June 2. The issue received a muted response from all categories of investors during its bidding period between May 26 and May 28, resulting in an overall subscription of 2.2 times.

Analysts attribute the weak demand to steep valuations. Based on annualized FY25 earnings, the issue is seeking a P/E of 235 times and an EV/EBITDA of nearly 57 times. For FY24, the P/E stands at 301 times, and the post-issue market capitalization is estimated at Rs.260,378 million-making the issue appear excessively priced, according to analysts.

Given the subdued demand, investor focus has now s...