Upcoming IPO listing: Two major IPOs are likely to list on BSE and NSE on Monday, June 2, 2025. These are Leela Hotel IPO and Aegis Vopak Terminals IPO. The latest grey market premium (GMPs) of the two companies signal a flat to discounted debut on the exchanges. Both received full subscriptions last week.
Leela Hotels IPO:
Leela Hotels IPO was a 100% book building worth Rs 3,500 crore, and opened from May 26 to May 28. The allotment of shares took place on May 29. The issue price of this IPO is of Rs 435. The IPO was fully subscribed by 4.72 times on the final day, with strong demand from qualified institutional buyers (7.82 times) and non-institutional category who subscribed the portion by 1.08 times.
Leela Hotels IPO last GMP:
As per Investor Grain, Leela Hotels IPO last GMP is Rs 2, last updated Jun 1st 2025 10:01 PM. With the price band of 435.00, Leela Hotels IPO's estimated listing price is Rs 437 (cap price + June 1st GMP). The expected percentage gain/loss per share is 0.46%.
What To Expect On Leela Hotels Listing Day?
Gaurav Garg, Lemonn Markets Desk said, the Leela Hotel IPO said, "The Grey Market Premium (GMP) remained flat throughout, reflecting cautious sentiment and a lack of strong listing expectations among market participants. People with mid to long-term investment horizons should subscribe."
During its IPO, Rajan Shinde, Research Analyst, Mehta Equities said, "We think the company owns a strategically located portfolio of luxury properties across high-barrier-to-entry business and leisure destinations, enabling it to command sustained premium pricing and reinforce brand equity. We also believe its comprehensive luxury ecosystem supports a well-diversified revenue base, with the majority of room revenue generated through direct bookings and nearly 47% contributed by international guests, highlighting its global appeal. Additionally, significant non-room revenue further strengthens income diversification. We also think that Schloss is backed by Brookfield, a global alternative asset manager with US$1 trillion in AUM and a strong presence in India, providing strategic, operational and financial support. By looking at the company's financials, the company has delivered strong topline growth-35.8% in FY2024 and 14.7% in FY2025-transitioning from a net loss of Rs.2.12 cr in FY2024 to a profit of Rs.47.65 cr in FY2025."
"On valuation parse on upper price band of Rs. 435/-, the issue is asking a Market cap of Rs. 14527 Cr. Based on annualized FY 2026e earnings and fully diluted post -IPO paid up capital, the company is asking for a EV to EBITDA of 21x which we feel fairly priced relative to industry peers. Given the company's strategic asset base, premium brand positioning and backing by a global institutional investor we view Schloss Bangalore Ltd as a compelling long-term play on India's rising luxury and tourism sector," said Shinde.
Aegis Vopak Terminals IPO:
Also, a 100% book building, the IPO worth Rs 2,800 crore opened on May 26th and closed on May 28th, just like Leela Hotels.
However, Aegis received 2.20x full subscription on the final day, a slower demand than that of Leela Hotels IPO received from investors. Qualified institutional buyers (QIBs) were the biggest contributor of the IPO, with the portion fully subscribing by 3.47 times. However, non-institutional and retail investors portion did not fully subscribed.
The issue price of the IPO is Rs 235 per share.
Aegis Vopak Terminals IPO GMP:
According to Investor Grain, the GMP for Aegis Vopak Terminals IPO shows the discounted price. The cap price for Aegis Vopak Terminals IPO is 235.00.The estimated listing price for Aegis Vopak Terminals IPO at the current GMP is Rs 234.
What To Expect From Aegis Vopak Terminals IPO Listing On June 2?
Garg believes the IPO is likely to see limited movement on listing day, indicating a subdued demand.
Earlier, Garg pointed out that Aegis is steeply valued, with an implied EV/EBITDA of 56.5x and a P/E of 227.4x, substantially higher than peers like Adani Ports (EV/EBITDA of 17.7x and P/E of 26.8x). The capital-intensive nature of the business requires continual large-scale investments, and any delays or inefficiencies in terminal commissioning could negatively impact returns.
Also, he said, Aegis faces customer concentration risk, with around 34.4% of its revenue coming from the top five clients. Furthermore, operational hazards inherent to industrial storage and handling of hazardous materials present potential financial and reputational risks.
"Investors with a moderate to high risk appetite and a long-term horizon should consider subscribing. AVTL offers a unique opportunity to invest in a market-leading infrastructure company with strong fundamentals, strategic growth plans, and industry tailwinds. While the high valuation limits near-term upside and listing day returns may be subdued, the medium-to-long-term growth story remains intact. As the new terminals come online starting FY26, profitability and cash flow are expected to improve, potentially driving meaningful value creation over a 2-3 year period," said Garg.
About Leela Hotels and Aegis Vopak Terminals:
Incorporated in 2019, Schloss Bangalore Limited is India's only institutionally owned and managed pure-play luxury hospitality company. Operating under "The Leela" brand, the company manages a portfolio of 13 operational hotels with 3,553 keys across major Indian cities, including Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. The company's business model includes direct ownership of hotels and hotel management agreements with third-party owners. Schloss Bangalore plans to expand its portfolio by adding eight new properties, aggregating approximately 833 keys by 2028, as per ICICI Direct.
Aegis Vopak Terminals Ltd., a strategic joint venture between Aegis Logistics Limited India and Royal Vopak of the Netherlands, operates a necklace of 20 tank terminals across 6 key Indian ports like Haldia, Kandla, Pipavav, JNPT(upcoming), Mangalore, and Kochi. With a robust storage capacity of 1.7 million cbm for Liquid storage, and 201K MT for LPG, our operations form a crucial link in the storage and movement of LPG, oil, liquid chemicals, petrochemicals, gases, Bitumen and vegetable oil products.
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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