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Phoenix Overseas IPO: Things Smart Investors Need to Know

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Phoenix Overseas Limited, incorporated in 2002, specializes in the trade of agricultural products and commodities like corn, oil cakes, and spices. Additionally, the company manufactures fashion accessories and bags made from jute, cotton, and leather. With a strong B2B presence and an expanding client base across Europe, the UAE, and Australia, Phoenix Overseas is poised for further growth. Its IPO will raise capital to enhance business operations and strengthen its global market position. Investors eyeing the agriculture and fashion industries will find the Phoenix Overseas IPO an attractive opportunity to consider.

Phoenix Overseas IPO Details and Objectives

Purpose of the IPO

The Phoenix Overseas IPO is being launched to raise capital that will support the company’s expansion plans, improve its working capital, and strengthen both its trading and manufacturing operations. These funds will be directed towards scaling its core business activities and enhancing its presence in key markets.

Expected Funds to be Raised

Phoenix Overseas aims to raise ₹36.03 crores through this IPO. The capital will be strategically utilized to meet the company’s growth objectives, boost operational efficiency, and elevate its market competitiveness, ensuring sustained development in both its trading and manufacturing divisions.

Key Dates to Remember

  • Phoenix Overseas IPO Opening Date: Friday, September 20, 2024
  • Phoenix Overseas IPO Closing Date: Tuesday, September 24, 2024
  • Basis of Allotment: Wednesday, September 25, 2024
  • Initiation of Refunds: Thursday, September 26, 2024
  • Credit of Shares to Demat Account: Thursday, September 26, 2024
  • Listing Date: Friday, September 27, 2024
  • Cut-off time for UPI mandate confirmation: 5 PM on September 24, 2024

Pricing and Lot Size of Phoenix Overseas IPO 

  • IPO Date: September 20, 2024 to September 24, 2024
  • Price Band: ₹61 to ₹64 per equity share
  • Face Value: ₹10 per share
  • Lot Size: 2,000 shares per lot
  • Total Issue Size: 5,630,000 shares (aggregating up to ₹36.03 crores)
  • Fresh Issue: 4,580,000 shares (aggregating up to ₹29.31 crores)
  • Offer for Sale: 1,050,000 shares (aggregating up to ₹6.72 crores)
  • Issue Type: Book Built Issue IPO
  • Listing At: NSE SME
  • Pre-Issue Shareholding: 14,766,018 shares
  • Post-Issue Shareholding: 19,346,018 shares

How to Apply for the Phoenix Overseas IPO

  • Online Application Process:
    To apply for the Phoenix Overseas IPO, investors can use their demat account via platforms like Bajaj Broking. Follow these steps:
    • Log in to your demat account or trading platform.
    • Select the IPO section and search for "Phoenix Overseas IPO."
    • Choose the lot size and enter the bid.
    • Complete the payment using ASBA or UPI.

Financial Health and Performance

  • Phoenix Overseas Limited's revenue increased by 22% between FY2023 and FY2024.
  • Profit After Tax (PAT) rose by 46% during the same period.
  • Revenue for FY2024: ₹54,915.1 lakhs compared to ₹45,131.61 lakhs in FY2023.
  • PAT for FY2024: ₹549.93 lakhs, up from ₹375.48 lakhs in FY2023.
  • Assets as of March 31, 2024: ₹13,162.58 lakhs, down from ₹14,686.47 lakhs in the previous year.
  • Net Worth: ₹5,012.26 lakhs in FY2024, up from ₹4,570.52 lakhs in FY2023.
  • Reserves and Surplus increased to ₹4,520.06 lakhs from ₹4,078.32 lakhs in FY2023.
  • Total Borrowing decreased to ₹2,937.11 lakhs from ₹3,447.24 lakhs in FY2023.

Investment Risks and Opportunities

Potential Risks of Investing in the IPO

  • Fluctuations in Commodity Prices: Phoenix Overseas relies heavily on agricultural commodities, which are subject to price volatility due to market conditions, weather, and other factors.
  • Dependence on Seasonal Variations: The company’s agricultural products are influenced by seasonal factors, which can lead to inconsistencies in supply and demand.
  • Competition from Established Players: Both in the agro-commodity and fashion accessory markets, Phoenix Overseas faces strong competition from established domestic and international brands.
  • Changes in Trade Policies: The company’s export-driven business model is vulnerable to changes in international trade policies, which can impact profitability and market access.

Opportunities and Growth Potential

  • Expansion into New Markets: Phoenix Overseas has significant opportunities to enter new international markets, enhancing its global footprint and revenue streams.
  • Diversification of Product Portfolio: The company can leverage its experience in agro-commodities to diversify into new product categories, offering additional growth avenues.
  • Vertical Integration: Phoenix Overseas could integrate its supply chain in the agricultural sector, improving operational efficiency and cost management.
  • Increased Demand for Sustainable Products: With the growing demand for eco-friendly fashion accessories, Phoenix Overseas can capitalize on this trend by expanding its sustainable product lines.

Conclusion

The Phoenix Overseas IPO presents an opportunity for investors seeking exposure to both the agricultural and fashion sectors. With its strong market position and growth prospects, the IPO is poised to attract attention from a wide range of investors.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Frequently Asked Questions

What is the Phoenix Overseas IPO and why is it significant?

Answer Field

The Phoenix Overseas IPO allows the company to raise funds for business expansion, making it an important opportunity for investors in the agriculture and fashion sectors.

What is the price band for the Phoenix Overseas IPO, and how was it determined?

Answer Field

The price band is set at ₹61 to ₹64 per share, determined based on the company’s financial performance and market position.

What are the key risks and rewards of investing in the Phoenix Overseas Ltd IPO?

Answer Field

Key risks include market fluctuations in commodities and geopolitical risks. Rewards include growth potential in international markets and strong demand for the company’s products.

When will the Phoenix Overseas IPO shares be listed, and what is the expected market response?

Answer Field

The shares for Phoenix Overseas IPO will be listed on 27th September 2024.  

What documents should I review before investing in the Phoenix Overseas IPO?

Answer Field

Before investing, review the Red Herring Prospectus (RHP), company financials, and the IPO's terms and conditions.

What are the lock-up period details for the Phoenix Overseas Ltd IPO?

Answer Field

The company’s promoters and significant shareholders will have a lock-up period of one year from the date of allotment.

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