Phoenix Overseas Ltd IPO
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Phoenix Overseas Ltd IPO Details
Details
Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
---|---|---|---|---|---|
₹ 56.3 L | ₹ 10.5 L | ₹ 22.46 L | ₹ 146.42 L | NSE | ₹ 36.03 Cr |
IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
20 Sep, 24 | 24 Sep, 24 | 2000 | ₹ 1,22,000 | Book Building - SME | 27 Sep, 24 |
Phoenix Overseas Ltd IPO Dates
Details
Sector | Type |
---|---|
Sector | Trading |
Sub Sector | NA |
Issue Type | Book Building - SME |
Subscription Status
*Values are in Lakhs
Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
---|---|---|---|
QIB | 65.74x | 802000 | 52724000 |
NII | 114.74x | 2300000 | 263910000 |
Retail | 157.89x | 2246000 | 354622000 |
Employee | 0x | 0 | 0 |
Total | 119.23x | 5630000 | 671256000 |
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) | FY23 | FY22 | FY21 |
---|---|---|---|
Revenue from operations | 5.67 | 5.54 | 4.76 |
EBITDA | 6.37 | 6.17 | 5.33 |
PAT | 3.72 | 3.60 | 3.14 |
Total Assets | 121.25 | 72.98 | 84.25 |
Share Capital | 4.92 | 4.92 | 4.92 |
Total Borrowings | 41.33 | 28.92 | 38.14 |
Operating Activities (Net Cash) | 4.42 | 4.23 | 3.71 |
Investing Activities (Net Cash) | 5.10 | 0.82 | 1.45 |
Financing Activities (Net Cash) | 41.33 | 28.92 | 38.14 |
Net Cashflow | 35.63 | 2.79 | 13.40 |
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.