Aegis Vopak Term

Strategically Expand our Network of Terminals at Existing Locations and Add New Locations.

Enhance Customer Value Proposition by Expanding Infrastructure at Existing Locations

Invest in Capabilities to Address Alternative Energies.

Pursue Inorganic Growth Opportunities.

Venture into Establishing Industrial Terminals.

Strategically Develop Inland Depots.

India`s Largest Third-Party Owner and Operator of Tank Storage Terminals for LPG and Liquid Products.

Strategically Located Necklace of Terminals across the Indian Coast

Track Record of Consistently Expanding Capabilities and Well-Equipped Storage Infrastructure

Backed by Established promoters and Supported by a Strong Management Team

Relationships with Diversified Customer Base.

Focus on Sustainability and Health and Safety.

Strong Financial Metrics with a Growing Margin Profile and Return Metrics.

Its terminal services and other operations are subject to operational risks that could adversely affect its business, results of operations and financial condition.

The company derived 42.07%, 44.56%, 47.20% and 44.76% of its revenue from the company`s top 10 customers in the last in Fiscal 2023 and 2024 and in the nine months ended December 31, 2023 and 2024, respectively. Any deterioration of their business, substantial reduction in their dealings with it or a loss of any of these customers could have an adverse effect on its business, results of operations, financial condition and cash flows.

The company significantly benefit from its relationship with the company Promoters. Any decline in this relationship could have an adverse effect on its business, results of operations, financial condition and cash flows.

The company operates as a joint venture between Aegis Logistics Limited and Vopak India BV and any conflicts between its Promoters could result in potential disruption in the company business and operations, which may adversely affect its business, results of operations, financial condition and cash flows.

The majority of its terminals are situated across the west coast of India. The company generated 91.61%, 92.28%, 91.31% and 92.82% in Fiscal 2023 and 2024 and in the nine months ended December 31, 2023 and 2024, respectively. Any adverse developments affecting its operations in such region, could have an adverse impact on its business, financial condition, results of operations and cash flows.

Some of the lease agreements entered into by one of its Subsidiaries, CRL Terminals, for its properties located at Kandla terminal have expired and have not been renewed at the time of filing this Red Herring Prospectus. Such non-renewal of lease may affect itd business as the company may be unable to carry out its business at such locations and this may have a material and adverse impact on the business of the Company. Further, the Company and its Subsidiary have not executed or registered and/ or have inadequately stamped, certain lease agreements in relation to some of the properties held by them.

As part of the Objects of the Issue, the Company proposes to use a portion of the Net Proceeds towards contracted acquisition of cryogenic LPG terminal at Mangalore from Sea Lord Container Limited, in relation to which a no-objection certificate ("NOC") is required from the port of Mangalore by Sea Lord Container Limited In the event, Sea Lord Containers is unable to obtain such NOC in a timely manner or at all, its ability to acquire and operate such proposed terminal may be impacted.

The Company, Subsidiaries, Promoters, and Directors are involved in certain legal and regulatory proceedings. Any adverse decision in such proceedings may have an adverse effect on its business, financial condition, cash flows and results of operations.

Its Promoter, Aegis, and certain of its Group Companies are engaged in a similar line of business as the Company and may compete with it.

The company has certain contingent liabilities and commitments that have been disclosed in its financial statements, which if materialize, may adversely affect its results of operations, cash flows and financial condition.

Its operations substantially depend on the activity and expenditure levels in the oil and gas sector. The company generated 36.36%, 37.81%, 42.02% and 45.06% of its revenues from customers in the oil and gas sector. Any adverse developments in the sector could have an impact on its results of operations, financial condition and cash flows.

Upgrading or renovation works or physical damage to its terminals may disrupt its operations and adversely affect the company business, cash flows, and results of operations.

The company has incurred losses in the past and its may not achieve or sustain profitability in the future, which could adversely affect its business, financial condition and results of operations.

The company has a limited operating history which makes it particularly difficult for a potential investor to evaluate its performance and predict its future prospects.

Its operations are subject to environmental, health, safety and employment laws and regulations. The company failures to comply with such regulations could adversely affect its business, results of operations, financial condition and cash flows.

The company requires certain licenses, permits and approvals in the ordinary course of business, and the failures to obtain or retain them in a timely manner may adversely affect its business, results of operations, cash flows and financial condition.

The company has substantial capital expenditure requirements and may need additional capital and financing in the future. If the company is unable to obtain the necessary capital and financing when needed, its operations could be curtailed.

The company has incurred indebtedness and an inability to comply with repayment and other covenants in its financing agreements could adversely affect its business, results of operations, cash flows and financial condition.

Its inability to collect receivables and default in payment from its customers could result in the reduction of its profits and affect the company cash flows.

Inability to maintain or increase its current capacity utilization levels may have an adverse impact on its business, results of operations and cash flows.

The company is connected to third parties` transportation networks and any significant disruptions to or changes in the operations of such transportation networks on account of natural disasters, accidents, schedule adjustments, capacity constraints and changes in transportation costs could adversely affect its business and results of operations.

Its may not be successful in implementing and managing its expansion and growth strategy effectively.

Its may undertake acquisitions, investments, joint ventures or other strategic alliances, which may have an adverse effect on its ability to manage the company business, and such undertakings may be unsuccessful.

A portion of the Net Proceeds may be utilized for repayment or pre-payment of borrowings availed by the Company from HDFC Bank Limited, one of the BRLMs.

Its may not have adequate insurance and may be unable to secure additional insurance to cover all losses its may incur in the company business operations or otherwise.

Fraud, theft, employee negligence or similar incidents may adversely affect its results of operations and cash flows.

If the company is unable to establish and maintain an effective internal controls and compliance system, its business, results of operations, cash flows and financial condition could be adversely affected.

Its terminals are dependent on adequate and uninterrupted supply of power and fuel electricity and any disruption in power and fuel supply may lead to disruption in operations; and an increase in electricity costs may lead to higher operating costs and consequent decline in its operating margins.

The company depends on its senior management and qualified and skilled personnel with technical expertise, and if the company is unable to recruit and retain senior management, qualified and skilled personnel, its business and the company ability to operate or grow its business may be adversely affected.

Any disruption to the steady and regular supply of workforce for its operations, including due to strikes, work stoppages or increased wage demands by its workforce or any other kind of disputes with its workforce or the company inability to control the composition and cost of our workforce could adversely affect its business, cash flows and results of operations.

The company occupy land on a leasehold basis. The company relies on renewal of lease agreements with the port authorities to operate and grow its business. A failures to renew its existing agreements or a breach of any of their terms may adversely affect its business, results of operations, cash flows and financial condition.

The company has in the past entered into related party transactions and may continue to do so in the future.

Any failures to protect its intellectual property rights could adversely affect its competitive position, business, financial condition and results of operation.

Any failures to protect its intellectual property rights could adversely affect its competitive position, business, financial condition and results of operation.

Its terminals may lack quality assurance accreditations and certifications which may adversely affect its business, financial condition, results of operations, and prospects.

Its Promoters and members of the company Promoter Group will continue to hold a significant equity stake in the Company after the Issue and their interests may differ from those of the other shareholders.

Certain sections of this Red Herring Prospectus disclose information from the CRISIL Report which is a paid report and commissioned and paid for by it exclusively in connection with the Issue and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.

Certain non-GAAP financial measures relating to its operations and financial performance have been included in this Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable.

The company faces competition that may result in a loss of its market share and/or a decline in its profitability.

Its ability to access capital at attractive costs depends on the company credit ratings. Non-availability of credit ratings or a poor rating may restrict our access to capital and thereby adversely affect its business, financial conditions, cash flows and results of operations.

Its funding requirements and proposed deployment of the Net Proceeds of the Issue have not been appraised by a bank or a financial institution and if there are any delays or cost overruns, its business, cash flows, financial condition and results of operations may be adversely affected.

Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.

The company has issued Equity Shares during the preceding 12 months at prices that may be lower than the Issue Price.

There have been certain instances of delays in payment of statutory dues in relation to its employees by the Company. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on its financial condition and cash flows.