Phoenix Overseas Ltd IPO

About Phoenix Overseas Ltd

Phoenix Overseas Limited was originally incorporated as `Phoenix Commodity Exports Private Limited' on December 31, 2002 as a private limited company under the Companies Act, 1956 with the Registrar of Companies, Kolkata. Subsequently, pursuant to a resolution passed by its Shareholders in their Extraordinary General Meeting held on November 20, 2008, the name of the Company was changed to `Phoenix Overseas Private Limited' and a fresh certificate of incorporation dated December 16, 2008 was issued by the Registrar of Companies, Kolkata. Further, pursuant to a special resolution of its Shareholders passed in an extra-ordinary general meeting dated September 30, 2011 the Company was converted from a private limited company to a public limited company and consequently the name of the Company was changed to `Phoenix Overseas Limited', and a fresh certificate of incorporation dated November 14, 2011 was issued to the Company by the Registrar of Companies, Kolkata.

The Agriculture sector is the largest source of livelihood in India. The Ministry of Commerce and Industry introduced Agriculture Export Policy, 2018 with an aim to double farmers' income by doubling agricultural exports from India and integrating Indian farmers and agricultural products in India to the global value chain. Our Country being one of the largest producers of agriculture and food products in the world, growth rate was estimated to be at 3.5% that it was 3.0% in 2021-22. The GVA in agriculture and allied activities grew a targeted 4% for 2022-23. The top crop-producing states in India are West Bengal, Uttar Pradesh, Punjab, Gujarat. The overall export value stood at US $52.50 billion.

Phoenix Overseas Limited is engaged into trading and exporting of agricultural produce and commodities such as corn, oil cakes, spices like dry red chilies, coriander, food grains like rice, wheat, corn, pulses and agricultural feed like soya bean meal and rice bran de-oiled cake. The Company has been also engaged in import of lentils, black urad dal and tur dal in India in bulk quantities. Its major exports of Agricultural products and feeds are to Bangladesh among other Asian Countries. The Company is B2B traders, dealing majorly in corn and oil cakes. The Company maintains stocks and distribute them to different institutional parties like manufacturers, exporters, etc. in bulk quantities. The Company is also engaged in manufacturing of bags for men and women made of jute, cotton, canvas, and leather as well as various other fashion accessories for buyers based in European Countries like France, Italy, Germany, UAE and also in Australia. The company's manufacturing facility is situated at Sodhpur, Kolkata. The Company is also engaged in manufacturing of purse and wallets along with other shopping and fashion bags for its clients. The Company is also engaged in food preservation business after acquisition of a multipurpose cold storage as well as potato storage facility having a combined capacity of around 11,827 MT, by virtue of amalgamation of Phoenix Cold Storage Private Limited with the Company w.e.f. 01.04.2009. The division offers storage and preservation solutions for all types of food products ranging from apples, oranges, carrots, potatoes, chili, ginger, eggs, fish, ice creams, sweets. Further, The Company also has a warehouse with the capacity of more than 10,000 MT for storage of corn, oil cakes and other commodities situated at Malda, near the Indo-Bangladesh Border.

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