Phoenix Overseas IPO Day 3: Issue booked 115 times so far; check subscription status, price band and listing date

Phoenix Overseas IPO continued to see a strong demand across investor categories on the last day of bidding on Tuesday, September 24. The NSE SME issue was booked 115 times driven by strong retail demand.

The retail portion of the public offer was booked 138.6 times. The Non-Institutional Investors (NIIs) subscribed their category 109.3 times, while the Qualified Institutional Buyers (QIBs) quota was booked 65.7 times.

Phoenix Overseas IPO offer size, price band and other details

The ₹36.03-crore book building issue comprises a fresh issuance of 45.8 lakh shares, aimed at raising ₹29.31 crore, and an offer-for-sale (OFS) portion of 10.5 lakh shares, worth ₹6.72 crore. The IPO price band has been fixed at ₹61 to ₹64 per share.

For retail investors the minimum application size is a single lot of 2,000 shares, amounting to an investment of ₹1,28,000. High Networth Individuals (HNIs) can bid for a minimum of 2 lots, or 4,000 shares, aggregating to an investment of ₹2,56,000.

Phoenix Overseas IPO dates

Phoenix Overseas IPO subscription opened on September 20. The IPO share allotment status is expected to be finalised on September 25.

Refunds for unsuccessful bidders will be initiated on Thursday, September 26, and successful applicants will receive shares of Phoenix Overseas in their Demat accounts the same day.

Shares of Phoenix Overseas are set to list on the NSE SME platform, Emerge. The tentative IPO listing date has been fixed as September 27.

Phoenix Overseas IPO Registrar

Cameo Corporate Services Limited is the registrar for the Phoenix Overseas IPO.

Khandwala Securities Limited serves as the book-running lead manager for the NSE SME issue, while Nikunj Stock Brokers Limited acts as the market maker.

Phoenix Overseas IPO objective

Phoenix Overseas intends to use the funds raised from the public offer for working capital needs and to fund opportunities for inorganic growth. A portion of the IPO proceeds will also be used for general corporate expenses.

About Phoenix Overseas Limited

Phoenix Overseas Limited, established in December 2002, specialises in trading and marketing animal feeds, agricultural products, and commodities. The company deals in corn, oil cakes, and spices such as dry red chillies, coriander and cumin seeds. As of September 2024, the company employed 29 individuals along with 3 contractual workers.