Aegis Vopak Terminals is set to raise ₹3,500 crore through equity. The funds will be used to repay debt and expand operations. The IPO will dilute promoter holdings. Recent financials show strong revenue and profit growth. Expansion plans at Mangalore and Pipavav ports are underway. The company’s valuation is currently high but expected to normalize after debt repayment.
RBI governor supports independence of central bank
Governor Malhotra praised US Fed Chair Jerome Powell’s efforts to uphold the central bank’s independence amidst political pressure. Malhotra highlighted Powell’s commitment to this principle,