Phoenix Overseas is scheduled to hit the market on September 20, 2024 and close on September 24, 2024. Phoenix Overseas plans to raise around ₹36.03 Cr through an IPO with a sale of up to 5,630,000 equity shares of ₹10 each. The Retail offered 42.00%, QIB Shares Offered 15%, HNI Shares Offered 43%.
Phoenix Overseas Limited was established in December 2002 and focuses on trading animal feeds, agricultural products, and commodities. This includes items like corn, oil cakes, dry red chillies, coriander, cumin seeds, food grains, tea, pulses, soya bean meal, and rice bran de-oiled cake. The company mainly operates in B2B trading, especially with corn and oil cakes. They also manufacture bags and fashion accessories made from jute, cotton, canvas, and leather for clients in Europe, the UAE, and Australia. Their manufacturing facility is located in Sodhpur, Kolkata.
One of the company's strengths is its ability to adapt to market changes by switching between exporting and importing based on demand and pricing for various commodities. Phoenix Overseas has built long-term relationships with both national and international clients. As of September 2024, the company has 29 employees and 3 contractual staff members, including its directors, who manage different business operations.
Phoenix Overseas IPO Details
Phoenix Overseas IPO opens on September 20, 2024, and closes on September 24, 2024. The Listing date for Phoenix Overseas IPO is on September 27, 2024. The price band for IPO is ₹61 to ₹64 per share and lot size of 2000 Shares.
| IPO Date | September 20, 2024 to September 24, 2024 |
| Listing Date | September 27, 2024 |
| Price | ₹61 to ₹64 per share |
| Lot Size | 2000 Shares |
| Issue Size | ₹36.03 Cr |
| Face Value | ₹10 per share |
Phoenix Overseas IPO Tentative Timetable
Phoenix Overseas opening date is September 20, 2024 and close date is September 24, 2024. The IPO allotment date is September 25, 2024. Therefund initiation of IPO is on September 26, 2024. The credit of shares in demat account is on September 26, 2024. The listing date is on September 27, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 20, 2024 |
| IPO Closing | September 24, 2024 |
| IPO Allotment Date | September 25, 2024 |
| Refund Initiation | September 26, 2024 |
| Shares Credit to Demat | September 26, 2024 |
| Lisiting Date | September 27, 2024 |
Phoenix Overseas IPO Lot Size
Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹128,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 2000 | ₹128,000 |
| Retail(Maximum) | 1 | 2000 | ₹128,000 |
| HNI (Minimum) | 2 | 4000 | ₹256,000 |
Phoenix Overseas IPO Promoter Holding
| Pre Issue Share Holding | 99.16% |
| Post Issue Share Holding |
Phoenix Overseas IPO Review
The company is launching its first IPO using a book building method, offering 5,630,000 equity shares with a face value of Rs. 10 each. They aim to raise Rs. 36.03 crore at the highest price in the price range.
On the financial performance front, for the last three fiscals, the company has (on a consolidated basis) posted a total revenue/net profit of Rs. 378.28 cr. / Rs. 3.91 cr. (FY22), Rs. 451.32 cr. / Rs. 3.72 cr. (FY23), and Rs. 549.15 cr. / Rs. 5.38 cr. (FY24).
For the last three fiscals, it has reported an average EPS of Rs. 3.15 and an average RoNW of 9.61%. The issue is priced at a P/BV of 1.89 based on its NAV of Rs. 33.94 as of March 31, 2024, and at a P/BV of 1.56 based on its post-IPO NAV of 41.06 per share (at the upper cap).
If we attribute FY24 super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 23.02. Based on FY23 earnings, the P/E stands at 33.33. Thus the issue relatively appears fully priced discounting all near term positives.
The company reported PAT margins of 1.04% (FY22), 0.82% (FY23), 0.98% (FY24), and RoCE margins of 12.42%, 14.58%, 15.28% for the referred periods, respectively.
The company has paid dividends of Rs. 0.52 crore for FY23 and Rs. 1.08 crore for FY24 (including dividend tax). However, it has changed how this information is presented. Instead of showing a table of dividend declarations on page 176, this information is now included with the financial statements from page F-1 to F-26 (starting on page 177) of the offer document. The company plans to follow a careful dividend policy based on its financial performance and future outlook.
The company is involved in trading and marketing different agricultural products and commodities, as well as being a leading exporter of fashion accessories. It has shown growth in its sales over the reported periods, but its profits have been inconsistent. Based on the earnings from FY24, it seems that the current prices are already reflecting this situation. Smart investors might consider investing a moderate amount for the long term.
Phoenix Overseas IPO Subscription Status (Bidding Details)
Table not foundPhoenix Overseas IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Phoenix Overseas IPO FAQs
What is Phoenix Overseas IPO?
Phoenix Overseas is issuing 5,630,000 equity shares with a face value of ₹10 each, totaling up to ₹36.03 Cr. The shares are being offered at a price of ₹61 to ₹64 each, with a minimum order quantity of 2000 shares.
Cameo Corporate Services Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Phoenix Overseas IPO will open?
Phoenix Overseas will open on September 20, 2024 for QIB, NII, and Retail Investors.
When Phoenix Overseas IPO will end?
Phoenix Overseas will end on September 24, 2024.
What is Phoenix Overseas IPO Size?
Phoenix Overseas IPO size is ₹36.03 Cr.
What is Phoenix Overseas IPO Price Band?
Phoenix Overseas price band is ₹61 to ₹64 per share.
What is Phoenix Overseas IPO Allotment Date?
Phoenix Overseas allotment date is September 25, 2024.
What is Phoenix Overseas IPO Listing Date?
Phoenix Overseas listing date is September 27, 2024. The IPO is to be listed on BSE and NSE.
How to Apply Phoenix Overseas IPO through Zerodha?
To apply for the IPO “Phoenix Overseas” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Phoenix Overseas IPO through Upstox?
To apply for the IPO “Phoenix Overseas” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Phoenix Overseas IPO Allotment Status?
For Phoenix Overseas IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Phoenix Overseas IPO GMP?
You can check out here: Phoenix Overseas IPO GMP. Check all IPO GMP here.