Phoenix Overseas IPO: The initial public offering (IPO) of Phoenix Overseas Limited has hit the Indian primary market today. The public issue will remain open for bidding till 24th September 2024, i.e. until Tuesday next week. The company has fixed the Phoenix Overseas IPO price band at ₹61 to ₹64 per equity share, and the book build issue is proposed for listing on the NSE SME Emerge platform. After an hour of bidding, the NSE SME IPO received a decent response from the investors. Meanwhile, the grey market drops positive signals after the Phoenix Overseas IPO subscription opening date. According to stock market observers, shares of the company are available at a premium of ₹10 in the grey market today.
Phoenix Overseas IPO subscription status
In around two and a half hours of bidding on day 1, the book build issue has been booked 0.32 times, and bids for 18,28,000 shares against 56,30,000 shares offered by the company have been received.
Important Phoenix Overseas IPO details
1] Phoenix Overseas IPO GMP: According to stock market observers, shares of the company are available at a premium of ₹10 in the grey market today.
2] Phoenix Overseas IPO date: The public issue hit the Indian primary market today and will remain open until September 24, 2024.
3] Phoenix Overseas IPO pricer: The company has a fixed price band of the public issue at ₹61 to ₹64 per equity share.
4] Phoenix Overseas IPO size: The company aims to raise ₹36.03 crore from this initial offer, of which ₹29.31 crore will be raised through the issuance of fresh shares.
5] Phoenix Overseas IPO lot size: Bidders can apply in lots, and one lot of the NSE SME IPO comprises 2,000 company shares.
6] Phoenix Overseas IPO allotment date: The most likely date for share allocation is 25th September 2024, i.e. on Wednesday next week.
7] Phoenix Overseas IPO registrar: Cameo Corporate Services Limited has been appointed official registrar of the SME IPO.
8] Phoenix Overseas IPO listing: The SME IPO is proposed for listing on the NSE SME Emerge platform.
9] Phoenix Overseas IPO listing date: The book build issue is expected to be listed on Friday, September 27th, 2024, in accordance with the ‘T+3’ listing rule.
10] Phoenix Overseas IPO review: During FY24, the company’s revenue grew by 22% year over year, and its PAT (Profit After Tax) surged, going up 46% in the financial year 2023-24.
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