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 |
