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Phoenix Overseas IPO is a book built issue of Rs 36.03 crores. The issue is a combination of fresh issue of 45.8 lakh shares aggregating to Rs 29.31 crores and offer for sale of 10.5 lakh shares aggregating to Rs 6.72 crores.
Phoenix Overseas IPO opens for subscription on September 19, 2024 and closes on September 23, 2024. The allotment for the Phoenix Overseas IPO is expected to be finalized on Tuesday, September 24, 2024. Phoenix Overseas IPO will list on NSE SME with tentative listing date fixed as Thursday, September 26, 2024.
Phoenix Overseas IPO price band is set at ₹61 to ₹64 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹128,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹256,000.
Khandwala Securities Limited is the book running lead manager of the Phoenix Overseas IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Phoenix Overseas IPO is Nikunj Stock Brokers.
Refer to Phoenix Overseas IPO RHP for detailed information.
| 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 |
| Share holding pre issue | 14,766,018 |
| Share holding post issue | 19,346,018 |
| Market Maker portion | 196,000 shares Nikunj Stock Brokers |
| 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 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 |
| 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 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹128,000 |
| Retail (Max) | 1 | 2000 | ₹128,000 |
| HNI (Min) | 2 | 4,000 | ₹256,000 |
| Lot Size Calculator | |||
The company's promoters are 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.
| Share Holding Pre Issue | 99.16% |
| Share Holding Post Issue |
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 de-oiled cake. Phoenix Overseas Limited is a B2B trading company primarily specialising 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 Sodhpur, Kolkata. Additionally, the company manufactures purses, wallets, as well as other shopping and fashion bags for its clients.
Competitive Strength
As of September 2024, the company had 29 employees and 3 contractual employees, including its directors, responsible for various business functions.
Phoenix Overseas Limited's revenue increased by 22% and profit after tax (PAT) rose by 46% between the financial year ending with March 31, 2024 and March 31, 2023.
| 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 | ||||||||||||||||||||||||||||||
The market capitalization of Phoenix Overseas IPO is Rs 123.81 Cr.
KPI as of March 31, 2024.
| 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 |
The company proposes to utilize the Net Proceeds from the Offer towards the following objects:
[Dilip Davda] 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 long term. Read detail review...
Phoenix Overseas Limited
13B Bidhan Sarani
Amherst St,
Kolkata,-700006
Phone: +913322198752
Email: cs@phxglobal.net
Website: https://www.phxglobal.net/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
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Phoenix Overseas IPO is a SME IPO of 5,630,000 equity shares of the face value of ₹10 aggregating up to ₹36.03 Crores. The issue is priced at ₹61 to ₹64 per share. The minimum order quantity is 2000 Shares.
The IPO opens on September 19, 2024, and closes on September 23, 2024.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Phoenix Overseas IPO using UPI as a payment gateway. Zerodha customers can apply in Phoenix Overseas IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Phoenix Overseas IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Phoenix Overseas IPO opens on September 19, 2024 and closes on September 23, 2024.
Phoenix Overseas IPO lot size is 2000 Shares, and the minimum amount required is ₹128,000.
You can apply in Phoenix Overseas IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Phoenix Overseas IPO will be done on Tuesday, September 24, 2024, and the allotted shares will be credited to your demat account by Wednesday, September 25, 2024. Check the Phoenix Overseas IPO allotment status.
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