Phoenix Overseas Limited IPO

NiftyTrader • September 17, 2024

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Phoenix Overseas Limited IPO

Phoenix Overseas Limited IPO opens on September 19, 2024, and closes on September 23, 2024. The Phoenix Overseas Limited IPO allotment is anticipated to be completed on Tuesday, September 24, 2024. The IPO will be tentatively listed on the NSE and SME on Thursday, September 26, 2024.

Phoenix Overseas Limited IPO’s price band is Rs 61 to Rs 64 per share. The IPO is a book-built issue of Rs 36.03 crores. The issue combines a fresh issue of 45.8 lakh shares aggregating to Rs 29.31 crores and an offer for sale of 10.5 lakh shares aggregating to Rs 6.72 crores.

Phoenix Overseas IPO Details

IPO Date	September 19, 2024 to September 23, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹61 to ₹64 per share
Lot Size	2000 Shares
Total Issue Size	5,630,000 shares (aggregating up to ₹36.03 Cr)
Fresh Issue	4,580,000 shares (aggregating up to ₹29.31 Cr)
Offer for sale	1,050,000 shares of ₹10 (aggregating up to ₹6.72 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre-issue	14,766,018
Shareholding post-issue	19,346,018
Market Maker portion	196,000 shares

Phoenix Overseas IPO Lot Size

Investors can bid for a minimum of 2000 shares and in multiples thereof. The table below depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amounts.

Application	Lots	Shares	Amount
Retail (Min)	1	2000	₹128,000
Retail (Max)	1	2000	₹128,000
S-HNI (Min)	2	4000	₹256,000

Phoenix Overseas IPO Objectives

The company proposes to utilize the Net Proceeds from the Offer towards the following objects:

Funding the working capital requirements
Pursuing inorganic growth initiatives
General Corporate Purposes.

About Phoenix Overseas Limited

Phoenix Overseas Limited, founded in December 2002, excels in trading and marketing a diverse range of agricultural commodities, including corn, oil cakes, and spices. The company also manufactures a variety of fashion accessories and bags—such as jute, cotton, canvas, and leather bags—serving clients across Europe, the UAE, and Australia from its facility in Jodhpur, Kolkata. Known for its adaptability in agro commodities trading, Phoenix Overseas effectively manages shifts between exports and imports according to market demands. As of September 2024, the company employs 29 permanent staff and 3 contractual workers, including its directors, to oversee its operations.

Phoenix Overseas Limited Financial Information

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	13,162.58	14,686.47	9,480.59
Revenue	54,915.1	45,131.61	37,828.19
Profit After Tax	549.93	375.48	391.36
Net Worth	5,012.26	4,570.52	4,246.59
Reserves and Surplus	4,520.06	4,078.32	3,754.39
Total Borrowing	2,937.11	3,447.24	2,981.26
			Amount in ₹ Lakhs

Phoenix Overseas IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 15.00% of the Net Issue
Retail Shares Offered	Not less than 42.00% of the Net Issue
NII (HNI) Shares Offered	Not less than 43.00% of the Net Issue

Phoenix Overseas IPO Timeline

Phoenix Overseas IPO opens on September 19, 2024, and closes on September 23, 2024.

IPO Open Date	Thursday, September 19, 2024
IPO Close Date	Monday, September 23, 2024
Basis of Allotment	Tuesday, September 24, 2024
Initiation of Refunds	Wednesday, September 25, 2024
A credit of Shares to Demat	Wednesday, September 25, 2024
Listing Date	Thursday, September 26, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 23, 2024