Phoenix Overseas IPO will open for subscription from 20 September 2024. The company aims for an issue size of ₹36.03 Cr through this IPO.
Company Overview
| Full name | Phoenix Overseas Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://www.phxglobal.net/ |
About Company
Incorporated in December 2002, Phoenix Overseas is involved in the trade and marketing of animal feeds, agricultural produce, and commodities such as corn, oil cakes, spices (including dry red chilies, coriander, and cumin seeds), food grains, tea, pulses, soya bean meal, and rice bran de-oiled cake. The company also imports bulk lentils, black urad dal, and tur dal to India. Phoenix Overseas operates as a B2B trading company, primarily focusing on corn/maize and oil cakes.
The company also manufactures men’s and women’s bags made from jute, cotton, canvas, and leather, along with various fashion accessories for clients in European countries such as France, Italy, and Germany, as well as in the UAE and Australia. Its manufacturing facility is located in Sodhpur, Kolkata. In addition, the company produces purses, wallets, and other shopping and fashion bags for its clients.
Phoenix Overseas has expanded into the food preservation business after acquiring multipurpose cold storage and a potato storage facility, with a combined capacity of approximately 11,827 MT, through the amalgamation of Phoenix Cold Storage Private Limited. As of September 2024, the company employed 29 permanent staff members and 3 contractual employees, including its directors, overseeing various business operations.
The Objectives of the Issue
- Funding the working capital requirements
- Pursuing inorganic growth initiatives
- General corporate purposes
Phoenix Overseas IPO Timetable
| IPO Opening date | 20 September 2024 |
| IPO Closing | 24 September 2024 |
| Basis of Allotment | 25 September 2024 |
| Initiation Refund | 26 September 2024 |
| Credit to Demat Account | 26 September 2024 |
| Listing Date | 27 September 2024 |
Phoenix Overseas IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹36.03 Cr – 5,630,000 shares |
| Fresh Issue | ₹29.31 Cr – 4,580,000 shares |
| Offer for sale | ₹6.72 Cr – 1,050,000 shares |
| Face value | ₹10 per share |
| Price Band | ₹61 to ₹64 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 196,000 shares |
| Shareholding pre-issue | 14,766,018 |
| Shareholding post-issue | 19,346,018 |
| Listing Exchange | NSE SME |
Phoenix Overseas IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹128,000 |
| Retail (Max) | 1 | 2000 | ₹128,000 |
| HNI (Min) | 2 | 4,000 | ₹256,000 |
Phoenix Overseas Offer Documents
Phoenix Overseas IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 1,96,000 (3.48%) |
| QIB Shares Offered | 8,02,000 (14.25%) |
| NII (HNI) Shares Offered | 23,86,000 (42.38%) |
| Retail Shares Offered | 22,46,000 (39.89%) |
| Total Shares Offered | 56,30,000 (100%) |
Phoenix Overseas Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 377.30 | 450.97 | 548.37 |
| Expenses | 373.06 | 446.35 | 541.91 |
| Net income | 3.91 | 3.71 | 5.38 |
Phoenix Overseas Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 2.65 | 2.54 | 3.72 |
| PE ratio | – | – | 16.40 – 17.20 |
| RONW (%) | 9.20 | 8.13 | 10.74 |
| NAV | 28.76 | 30.95 | 33.94 |
| ROCE (%) | 12.42 | 14.58 | 15.28 |
| EBITDA (%) | 2.54 | 2.66 | 2.37 |
| Debt/Equity | 0.70 | 0.75 | 0.59 |
Company Promoters
- Aparesh Nandi, Jayanta Kumar Ghosh and Uday Narayan Singh, BCPL Railway Infrastructure Limited, AN Dealers LLP, JKG Commercial LLP, UNS Commercial LLP and Tricon Logistics Engineering Consultancy Private Limited and Kanhai Singh Welfare Trust.
Promoter Holding
| Pre Issue Share Holding | 99.16% |
| Post Issue Share Holding |
Phoenix Overseas Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 26 September 2024 | 35 | – | 45,000 |
| 25 September 2024 | 30 | – | 40,000 |
| 24 September 2024 | 20 | – | 26,000 |
| 23 September 2024 | 10 | – | 15,000 |
| 21 September 2024 | 10 | – | 15,000 |
| 20 September 2024 | 10 | – | 15,000 |
| 19 September 2024 | 10 | – | 15,000 |
| 18 September 2024 | 10 | – | 15,000 |
| 17 September 2024 | 10 | – | 7,000 |
Phoenix Overseas IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 8,02,000 | 23,00,000 | 22,46,000 | 53,48,000 |
| 24 Sep 2024 | 65.74 | 113.90 | 148.42 | 121.18 |
| 23 Sep 2024 | 1.07 | 6.73 | 34.99 | 17.75 |
| 20 Sep 2024 | 1.07 | 0.19 | 1.93 | 1.05 |
Phoenix Overseas IPO Allotment Status
Phoenix Overseas IPO allotment status is now available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.
Phoenix Overseas IPO Listing Details
| Listing Date | 27 September 2024 |
| BSE Scrip Code | Coming Soon |
| NSE Symbol | |
| ISIN | |
| Final Issue Price |
Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | Coming Soon |
| Open | |
| Low | |
| High | |
| Last Trade |
Phoenix Overseas IPO Lead Manager(s)
KHANDWALA SECURITIES LIMITED
Vikas Building, Ground Floor, Green Street,
Fort, Mumbai 400 023, Maharashtra, India
Phone: +91 22 4076 7373
Email: ipo@kslindia.com
Website: www.kslindia.com
Phoenix Overseas Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700
Email: ipo@cameoindia.com
Website: www.cameoindia.com
Phoenix Overseas Contact Details
PHOENIX OVERSEAS LIMITED
13B Bidhan Sarani Amherst St,
Kolkata, West Bengal, India, 700006
Phone: +91 33 22198752
E-mail: cs@phxglobal.net
Website: www.phxglobal.net
Phoenix Overseas IPO FAQs
What is Phoenix Overseas offer size?
Phoenix Overseas offer size is ₹ 34.34 – 36.03 crores.
What is Phoenix Overseas offer price band?
Phoenix Overseas public offer price is ₹ 61 – 64 per share.
What is the lot size of Phoenix Overseas IPO?
Phoenix Overseas offer lot size is 2,000 shares.
What is Phoenix Overseas Offer GMP today?
Phoenix Overseas IPO GMP today is ₹ 35 per share.
What is Phoenix Overseas kostak rate today?
Phoenix Overseas kostak rate today is ₹ NA per application.
What is Phoenix Overseas IPO Subject to Sauda rate today?
Phoenix Overseas Subject to Sauda rate today is ₹ 45,000 per application.
Final thoughts
Phoenix Overseas IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
