Phoenix Overseas IPO Subscription Status

Phoenix Overseas' initial public offering (IPO) has garnered significant investor interest, with subscription rates showing a remarkable increase over the three-day period. The IPO, which opened on 20th September 2024, witnessed a surge in demand, particularly in the retail and non-institutional investor segments, resulting in a robust 25.86 times oversubscription by 11:14:00 AM on day three. This strong response underscores the market's enthusiasm for Phoenix Overseas' shares and sets an optimistic tone for its potential listing in the diverse agro-commodities and fashion accessories sectors.

Throughout the subscription period, Phoenix Overseas attracted bids for 14,05,50,000 equity shares, amounting to a substantial ₹899.52 crore (based on the upper price band). This level of investor engagement suggests strong confidence in the company's business model and future prospects in the growing agro-commodities trading and export markets.

Subscription Status of Phoenix Overseas IPO for Days 1, 2, and 3:

Note: Market Maker portion is not included in NII/HNI.

Detailed subscription details for Phoenix Overseas IPO as of Day 3 (24th September 2024, 11:14:00 AM):

Total Applications: 57,673

Note: The total amount is calculated based on the upper price of the issue price range (₹64 per share).

Key Highlights of the Subscription:

• The IPO of Phoenix Overseas has been subscribed 25.86 times overall, indicating strong investor interest in the company's diverse business portfolio.
• Retail investors have shown overwhelming enthusiasm, with a subscription ratio of 51.36 times, suggesting high confidence among individual investors in the company's growth potential.
• Non-Institutional Investors (NII) have demonstrated solid interest, with a subscription ratio of 10.20 times, indicating positive sentiment among larger investors.
• Qualified Institutional Buyers (QIB) have shown consistent interest, maintaining a subscription ratio of 1.07 times throughout the three days.
• The overall subscription trend increased significantly day-on-day, particularly in the retail and NII segments, suggesting growing investor confidence in Phoenix Overseas' business model and market positioning.

Phoenix Overseas IPO - Day 2 Subscription at 17.79 Times

Key Highlights:

• On Day 2, Phoenix Overseas' IPO was subscribed 17.79 times, with strong demand from Retail Investors.
• Retail investors showed significantly increased interest with a subscription ratio of 35.82 times.
• Non-Institutional Investors (NII) showed increased interest with a subscription ratio of 6.43 times.
• Qualified Institutional Buyers (QIB) maintained their interest with a subscription ratio of 1.07 times.
• The overall subscription trend indicated building momentum, with retail and NII categories showing significant increased participation.

Phoenix Overseas IPO - Day 1 Subscription at 1.09 Times

Key Highlights:

• The IPO of Phoenix Overseas was subscribed 1.09 times on Day 1, with initial demand primarily from Retail Investors.
• Retail investors showed early strong interest with a subscription ratio of 2.04 times.
• Qualified Institutional Buyers (QIB) showed initial interest with a subscription ratio of 1.07 times.
• Non-Institutional Investors (NII) showed minimal initial interest with a subscription ratio of 0.20 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Phoenix Overseas Limited

Phoenix Overseas Limited, founded in December 2002, has become a diversified player in agro-commodities trading and fashion accessories manufacturing. The company operates in domestic and international markets, trading animal feeds, agricultural produce, and commodities like corn, oil cakes, spices, and pulses. In fashion, it manufactures bags and accessories made of jute, cotton, canvas, and leather, serving clients in Europe, the UAE, and Australia. With a flexible business model that adapts to market demands, Phoenix Overseas maintains long-term client relationships and leverages its export house status. As of March 2024, the company reported total assets of ₹13,162.58 lakhs, revenue of ₹54,915.10 lakhs (22% YoY growth), and a profit of ₹549.93 lakhs (46% YoY growth), reflecting its strong positioning in both sectors.

Read more about Phoenix Overseas IPO

Phoenix Overseas IPO Details

• IPO Date: 20th September 2024 to 24th September 2024
• Listing Date: 27th September 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹61 to ₹64 per share
• Lot Size: 2000 Shares
• Total Issue Size: 5,630,000 shares (aggregating up to ₹36.03 Cr)
• Fresh Issue: 4,580,000 shares (aggregating up to ₹29.31 Cr)
• Offer for Sale: 1,050,000 shares (aggregating up to ₹6.72 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Khandwala Securities Limited
• Registrar: Cameo Corporate Services Limited
• Market Maker: Nikunj Stock Brokers