Phoenix Overseas Ltd IPO

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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50years

Phoenix Overseas Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
₹ 56.3 L₹ 10.5 L₹ 22.46 L₹ 146.42 LNSE₹ 36.03 Cr
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
20 Sep, 2424 Sep, 242000 ₹ 1,22,000 Book Building - SME27 Sep, 24

Phoenix Overseas Ltd IPO Dates

  • 20 Sep 2024

    Opening date

  • 24 Sep 2024

    Closing date

  • 25 Sep 2024

    Basis of
    Allotment

  • 26 Sep 2024

    Initiation of
    Refunds

  • 26 Sep 2024

    Credit of
    Shares

  • 27 Sep 2024

    Listing date

Details

SectorType
SectorTrading
Sub SectorNA
Issue TypeBook Building - SME

Subscription Status

*Values are in Lakhs

Investor TypeSubscription TimesShares Offered*Shares Bid*
QIB65.74x80200052724000
NII114.74x2300000263910000
Retail157.89x2246000354622000
Employee0x00
Total119.23x5630000671256000

Subscription Status

Investor Type

QIB

NII

Retail

Employee

Total

*Values are in Lakhs

Phoenix Overseas Ltd Financial Status

Income Statement

Balance Sheet

Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations5.675.544.76
EBITDA6.376.175.33
PAT3.723.603.14
Total Assets121.2572.9884.25
Share Capital4.924.924.92
Total Borrowings41.3328.9238.14
Operating Activities (Net Cash)4.424.233.71
Investing Activities (Net Cash)5.100.821.45
Financing Activities (Net Cash)41.3328.9238.14
Net Cashflow35.632.7913.40

Particulars (in Rs. Crores)

Revenue from operations

EBITDA

PAT

Total Assets

Share Capital

Total Borrowings

Operating Activities (Net Cash)

Investing Activities (Net Cash)

Financing Activities (Net Cash)

Net Cashflow

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.

Peer Comparison:

  • No Listed Industry Peers

Phoenix Overseas Ltd IPO Key Points

Strengths

  • Experienced management team with proven project management and implementation skills.
  • Strong presence in agro commodities trading segment.
  • Long term relationship with clients and repeat business.

Risk

  • Major exports of the Company are to Bangladesh and this expose it to higher degree of risk with constantly changing economic, regulatory and social conditions. Any change in political or economic conditions in Bangladesh can adversely affect its business, financial condition and results of operations.
  • The company depends on a few customers of its products, for a significant portion of the company revenue, and any decrease in revenues or sales from any one of its key customers may adversely affect the company business and results of operations.
  • In the past, there have been instances of delays in filings of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 1956 and Companies Act, 2013 to RoC.

Strategy

  • Quality Assurance.
  • Increase Geographical Presence.
  • Improving operational efficiencies.
  • Leveraging its Market skills and Relationships.
  • Increasing the customer reach.
  • Experienced management team with proven project management and implementation skills.
  • Strong presence in agro commodities trading segment.
  • Long term relationship with clients and repeat business.

How To Apply for Phoenix Overseas Ltd IPO Online?

Step 1:

Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.

Step 2:

From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

Get your FAQs right

Phoenix Overseas Ltd's IPO offers shares for up to ₹ 0 L It begins on Sep 20, 2024 and ends on Sep 24, 2024.

The price of Phoenix Overseas Ltd IPO ranges between ₹61 to ₹64 per share.

The Phoenix Overseas Ltd IPO opens on Sep 20, 2024 and closes on Sep 24, 2024.

The allotment for the Phoenix Overseas Ltd IPO will be finalised on Sep 25, 2024. The shares will be listed on BSE and NSE on Sep 27, 2024.

The minimum lot size for Phoenix Overseas Ltd IPO is 2000 shares, priced between ₹61 to ₹64 per share.

The GMP (Grey Market Premium) of Phoenix Overseas Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Phoenix Overseas Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Phoenix Overseas Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Sep 20, 2024, and closes on Sep 24, 2024. The allotment is finalised on Sep 25, 2024.

To apply for the Phoenix Overseas Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.