Phoenix Overseas IPO 2024: Key Dates, Allotment Details, and Investment Insights

Phoenix Overseas Ltd has an upcoming IPO in 2024. It will be open for subscriptions from September 20, 2024 to September 24, 2024. Investors should plan ahead due to the brief timeframe. This article reviews the main aspects of this IPO as well as its potential investment opportunities.

Table of Contents

Introduction to Phoenix Overseas IPO

The company works in agricultural commodities, fashion accessories and cold storage. This IPO aims at raising funds for working capital and expansion purposes. For interested investors, there are possibilities here given Phoenix’s good market position.

Phoenix Overseas IPO 2024 opens on September 20 and closes on September 24. So during this time investors would need to place orders early before it closes up.

,Key Details of the IPO

Below are some important details regarding Phoenix Overseas IPO:

It has an issue size estimated ranging from ₹36.03 crores.
The price per share will be within ₹61 to ₹64 which is reasonable thus attracting many different types of people.
Minimum bid is 2,000 shares. Minimum investment is ₹1,28,000.
IPO includes new issue of 45.8 lakh shares and offer for sale of 10.5 lakh shares by today’s shareholders (IPO Watch) (Alice Blue Online).

Objectives of the IPO

Funds raised from IPO will be used for:

Working capital: ₹10 crores to enhance profitability.
Growth through acquisitions: ₹6 crores for inorganic expansion.
General corporate expenses: brand building and marketing.

Allotment and Listing Dates

Allotment will be done by September 25, 2024. Listing on NSE Emerge will be on September 27, 2024 (IPO Watch). Investors can check status online through the registrar’s site.

Risks and Challenges

Here are some risks you need to know before investing in Phoenix Overseas IPO:

Heavy reliance on a few clients, especially from Bangladesh, puts revenues at risk.
Past delays in mandatory filings may hinder future operations.
Market changes in cold storage and agriculture could impact business performance.

Phoenix Overseas Business Model and Industry Potential

The cold storage and agriculture sectors are expected to grow. The global cold storage market is anticipated to expand by USD 145.71 billion by 2028 due to rising demand for frozen food along with innovative refrigeration technology.

This provides an excellent opportunity for Phoenix Overseas to capitalise on the growing market needs.

In addition, the fashion accessories market, which the company also caters to, is seeing growth as consumer trends shift toward eco-friendly and sustainable products.

Investor Categories and Reservation

The shares in the Phoenix Overseas IPO will be allocated across various investor categories as per SEBI regulations. Here’s how the shares are reserved:

QIBs will get 50%

15% for NII
35% for RII

How to Apply for Phoenix Overseas IPO

Investors may apply via ASBA or UPI. Use your trading platform or fill out the form.

Once allotment is confirmed, shares will be credited to your Demat account

The Phoenix Overseas IPO gives a good chance for investing in the stores of the chilly stuff. The company will use the money to get bigger and do better. Still, people should think about the risk of not having too many customers and the papers they must file.