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16 Nov 2024
Phoenix Overseas Limited IPO, GMP, Details, Price, and Review
Phoenix Overseas Limited was recognized as a Three Star Export house by the Ministry of Commerce and Industry, Govt. of India on October 01, 2023 and this recognition is valid for 5 (Five) years.
The group has always believed strongly in the concept of collaborative growth which leads to a business conglomerate dealing in various sectors, including the export of agricultural produce and commodities, manufacturing/exporting jute bags (www.bagsindia.com), purses, wallets, belts and maintaining a multipurpose cold storage, with potato cold store. With the commitment to provide quality and competitive pricing, the group is constantly moving up the import-export ladder of the global market.
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Phoenix Overseas IPO Overview:
- IPO Size: ₹36.03 crores
- ● Fresh Issue: 45.8 lakh shares amounting to ₹29.31 crores
- ● Offer for Sale: 10.5 lakh shares amounting to ₹6.72 crores
- Issue Dates: Opens on September 19, 2024, and closes on September 23, 2024
- Price Band: ₹61 to ₹64 per share
- Minimum Lot Size: 2000 shares
- Lead Manager: Khandwala Securities Limited
- Registrar: Cameo Corporate Services Limited
- Market Maker: Nikunj Stock Brokers
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Phoenix Overseas Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 27-09-2024 | 64 | 15 (23.44%) | 27-Sep-2024 12:10 |
| 26-09-2024 | 64 | 40 (62.50%) | 26-Sep-2024 12:25 |
| 25-09-2024 | 64 | 40 (62.50%) | 25-Sep-2024 12:00 |
| 24-09-2024 | 64 | 30 (46.88%) | 24-Sep-2024 12:35 |
| 23-09-2024 | 64 | 25 (39.06%) | 23-Sep-2024 12:30 |
| 20-09-2024 | 64 | 25 (39.06%) | 20-Sep-2024 12:20 |
| 19-09-2024 | 64 | 10 (15.62%) | 19-Sep-2024 12:35 |
| 18-09-2024 | 64 | 10 (15.62%) | 18-Sep-2024 12:18 |
| 17-09-2024 | 64 | 10 (15.62%) | 17-Sep-2024 12:55 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Phoenix Overseas IPO Overview
| Detail | Description |
|---|---|
| IPO Date | September 19, 2024 to September 23, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹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 Nikunj Stock Brokers |
Phoenix Overseas IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| 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 |
| 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 |
Phoenix Overseas Limited 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 Limited 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 Promoter Holding
| Share Holding Pre Issue | 99.16% |
| Share Holding Post Issue |
Company & Financials
Incorporated in December 2002, Phoenix Overseas Limited trades and markets animal feeds, agricultural produce, and commodities, including corn, oil cakes, spices like dry red chillies, coriander, cumin seeds, food grains, tea, pulses, soya bean meal and rice bran deoiled cake. Phoenix Overseas Limited is a B2B trading company primarily specializing in corn/maize and oil cakes.
The company is involved in the manufacturing of bags for men and women made of jute, cotton, canvas and leather, as well as various other fashion accessories. Their clients are based in European countries like France, Italy, Germany, the UAE and also in Australia. The company's manufacturing facility is located in Sodepur, Kolkata. Additionally, the company manufactures purses, wallets, as well as other shopping and fashion bags for its clients.
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Competitive Strength:
- ● The company's strong presence in agro commodities trading allows it to switch between exports and imports based on changes in demand or pricing for any commodity during any season.
- ● The company's clients are nationwide and international and have been long-term partners.
Phoenix Overseas Limited Financial Information (Restated Consolidated)
| 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 | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 10.74% |
| ROCE | 15.28% |
| Debt/Equity | 0.59 |
| RoNW | 10.74% |
| PAT Margin (%) | 0.98 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.72 | 2.84 |
| P/E (x) | 17.18 | 22.51 |
Objectives of Phoenix Overseas IPO
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The company proposes to utilize the Net Proceeds from the Offer towards the following objectives:
- 1. Funding the working capital requirements.
- 2. Pursuing inorganic growth initiatives.
- 3. General corporate purposes.
Phoenix Overseas IPO Review
The company is engaged in trading and marketing of variety of agri products and commodities as well as a star export house for fashion accessories etc. It posted growth in its top lines for the reported periods but marked inconsistency for bottom lines. Based on FY24 earnings, the issue relatively appears fully priced. Well-informed investors may park moderate funds for the long term.
FAQs for Phoenix Overseas IPO
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What is the Phoenix Overseas IPO?
Phoenix Overseas IPO is a SME IPO. The company is going to raise ₹36.03 Crores via IPO. The issue is priced at ₹61 to ₹64 per equity share. The IPO is to be listed on NSE.
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When will the Phoenix Overseas IPO open for subscription?
The IPO is to open on September 19, 2024, for QIB, NII, and Retail Investors. The IPO will close on September 23, 2024.
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What is Phoenix Overseas IPO Investors Portion?
The investors’ portion for QIB is 15%, NII is 43%, and Retail is 42%.
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What is Phoenix Overseas IPO Issue Size?
Phoenix Overseas IPO issue size is ₹36.03 crores.
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What is Phoenix Overseas IPO Price Band?
Phoenix Overseas IPO Price Band is ₹61 to ₹64.
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What is Phoenix Overseas IPO Lot Size?
The minimum bid is 2000 Shares with ₹128,000 amount.
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What is the Phoenix Overseas IPO Allotment Date?
Phoenix Overseas IPO allotment date is September 24, 2024.
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What is the Phoenix Overseas IPO Listing Date?
Phoenix Overseas IPO listing date is September 26, 2024. The IPO is to list on NSE.
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What is the current GMP of Phoenix Overseas?
The current GMP of Phoenix Overseas is 15 (23.44%).
RHP:
RHP of Phoenix Overseas Limited IPO
DRHP:
DRHP of Phoenix Overseas Limited IPO
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What is the Phoenix Overseas IPO?
Phoenix Overseas IPO is a SME IPO. The company is going to raise ₹36.03 Crores via IPO. The issue is priced at ₹61 to ₹64 per equity share. The IPO is to be listed on NSE.
-
When will the Phoenix Overseas IPO open for subscription?
The IPO is to open on September 19, 2024, for QIB, NII, and Retail Investors. The IPO will close on September 23, 2024.
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What is Phoenix Overseas IPO Investors Portion?
The investors’ portion for QIB is 15%, NII is 43%, and Retail is 42%.
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What is Phoenix Overseas IPO Issue Size?
Phoenix Overseas IPO issue size is ₹36.03 crores.
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What is Phoenix Overseas IPO Price Band?
Phoenix Overseas IPO Price Band is ₹61 to ₹64.
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What is Phoenix Overseas IPO Lot Size?
The minimum bid is 2000 Shares with ₹128,000 amount.
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What is the Phoenix Overseas IPO Allotment Date?
Phoenix Overseas IPO allotment date is September 24, 2024.
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What is the Phoenix Overseas IPO Listing Date?
Phoenix Overseas IPO listing date is September 26, 2024. The IPO is to list on NSE.
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What is the current GMP of Phoenix Overseas?
The current GMP of Phoenix Overseas is 15 (23.44%).
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