Phoenix Overseas Limited is coming up with an IPO worth INR 36.03 crores, consisting of a fresh issue of 45.8 lakh shares worth INR 29.31 crores and an offer to sell 10.5 lakh shares worth INR 6.72 crores. The company aims to fund working capital, pursue inorganic growth, and address general corporate purposes. 

Phoenix Overseas IPO – Important Dates 

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Phoenix Overseas Limited IPO – Company Profile 

Phoenix Overseas Limited, a Three-Star Export House recognized by the Indian government, specializes in exporting agricultural produce, manufacturing/exporting jute bags and accessories, and operating multipurpose cold storage facilities. It focuses on quality and competitive pricing. 

Their company trades and markets animal feeds, agricultural produce, and commodities while manufacturing jute, cotton, canvas, leather bags, and fashion accessories for international clients. It has a flexible export/import strategy based on market demand. 

Their company operates a multipurpose cold storage and potato facility with 11,827 MT capacity, offering preservation for various food products. Additionally, they manage a 10,000 MT warehouse for corn, oil cakes, and commodities near the Indo-Bangladesh border. 

Phoenix Overseas Ltd IPO Fundamental Analysis 

Phoenix Overseas Limited’s financial analysis reveals a mixed performance. Revenue has increased, equity expanded and profitability improved, but challenges include decreasing total assets, weakening liquidity, and a significant drop in inventory turnover ratio. 

1. Revenue Trend: The revenue increased from ₹37,730.39 lakh in March 2022 to ₹45,097.07 lakh in March 2023. The revenue for the current year’s 12-month period ending March 2024 is INR 54,837.39  lakh. 

2. Equity and Liabilities: Equity has shown a consistent increase over the periods, reflecting potential growth and expansion. However, the debt-equity ratio has decreased, indicating reduced reliance on debt financing. 

3. Profitability: The profit after tax (PAT) has increased from ₹390.52 lakh in March 2022 to ₹538.38 lakh by March 2024. The rise in profitability could be a source of confidence for investors. 

4. Earnings per Share (EPS): The diluted EPS has also increased from ₹2.65 in March 2022 to ₹3.72 by March 2024, reflecting higher earnings per share for investors. 

5. Return on Net Worth (RoNW): The RoNW has risen from 9.20% to 10.74%, indicating an increase in the company’s ability to generate returns on shareholder equity.

6. Financial Position: Total assets have decreased, suggesting potential business challenges. However, the current ratio has decreased, indicating weakening liquidity and potential challenges in meeting short-term obligations. 
7. Inventory Turnover Ratio: There’s a significant decrease in the Inventory Turnover   Ratio, which might suggest slower sales or inefficient inventory management. 

Phoenix Overseas IPO Financial Analysis 

Phoenix Overseas Limited IPO Peer Comparison 

No comparable listed companies in India are engaged in all aspects of the business that Phoenix Overseas Limited operates. Accordingly, it is impossible to provide an industry comparison concerning their company. 

Phoenix Overseas Ltd IPO Objective 

The main objective of Phoenix Overseas Limited is to fund working capital requirements and pursue inorganic growth initiatives. 

1. Funding incremental working capital requirements of their company: The company intends to utilize INR 10 crores from net proceeds to fund working capital requirements in Fiscal 2025, aiming to enhance profitability and achieve business targets while managing existing equity, accruals, and financing facilities. 

2. Investment in Subsidiary (proposed to be incorporated): The company plans to utilize INR 6 crores from net proceeds for inorganic initiatives, including acquiring equity shares in a newly merged company, which will become a subsidiary, expanding its operations per the board’s approval. 

3. General Corporate Purposes: The company plans to use the net proceeds for general corporate purposes, including meeting contingencies, strengthening marketing and brand building, enhancing technology infrastructure, strategic initiatives, and addressing funding shortfalls. 

Phoenix Overseas IPO Risks And Challenges 

Phoenix Overseas Limited’s risk includes heavy reliance on a few customers, primarily in Bangladesh, and potential impacts from delays in statutory filings. Market conditions or regulatory issues could adversely affect revenue, operations, and financial stability. 

• The company relies heavily on a few customers, with over 90% of exports to Bangladesh, and lacks long-term agreements or exclusive intermediaries. Market conditions or customer requirements changes could adversely affect revenue, operations, and cash flows. 

• The company depends on a few customers, with over 94% of export revenue from Bangladesh. Lacking long-term agreements or exclusive intermediaries, any changes in market conditions or customer demands could significantly impact revenue, operations, and cash flows. 

• The company has experienced delays in filing statutory forms under the Companies Act, which resulted in additional fees. Despite corrective actions taken for past delays, future delays or penalties could materially impact operations and financial position. 

Phoenix Overseas Ltd IPO – Industry & Market Potential 

The cold storage market is expected to grow by USD 145.71 billion at a 13.83% CAGR from 2023 to 2028, driven by food waste reduction, increased frozen food consumption, and refrigeration and warehouse management technology advancements. 

The India Cold Chain Logistics Market, valued at USD 11.64 billion in 2024, is projected to reach USD 18.19 billion by 2029, growing at a 9.72% CAGR due to rising demand for perishables and e-commerce. 

The global tote bags market, valued at USD 2.63 billion in 2023, is set to reach USD 3.76 billion by 2031, growing at a 4.60% CAGR. North America leads due to high consumer purchasing power, while Asia-Pacific shows rapid growth driven by increasing shopping activity and eco-friendly trends. 

Phoenix Overseas Limited IPO – Type of Offer 

Phoenix Overseas Limited plans a fresh issue of shares, seeking INR 29.31 crores to fund working capital, pursue inorganic growth, and address general corporate purposes. Additionally, the company proposes an offer for sale, intending to sell 10.5 lakh existing shares.

1. Fresh Issue: The company will issue new shares to raise capital, aiming to collect INR 29.31 crores. The company intends to utilize the proceeds from the fresh issue for funding working capital, pursue inorganic growth, and address general corporate purposes. 
2. Offer for sale: Phoenix Overseas Limited is offering to sell 10.5 lakh existing shares. The following are the details of the existing shareholders who are also the promoters selling the shares:

Phoenix Overseas IPO Offer Size 

The offer size of Phoenix Overseas Limited is INR 36.03 crores, consisting of a fresh issue of 45.8 lakh shares worth INR 29.31 crores and an offer to sell 10.5 lakh shares worth INR 6.72 crores. The company seeks funds for working capital, pursues inorganic growth, and addresses general corporate purposes. 

Phoenix Overseas Limited IPO Allotment Structure 

Phoenix Overseas allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for Retail Individual Investors (RII) in accordance with SEBI regulations. 196,000 shares are reserved for market makers. 

● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.

● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.

● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs. 

● Market Maker Reservation: A portion of shares, i.e. 196,000 shares, are reserved for market makers. 

Read more about Phoenix Overseas IPO Allotment Status

How to apply for Phoenix Overseas IPO?

To apply for the Phoenix Overseas Limited IPO through Alice Blue, follow these steps:

Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.

1. Check for IPO Details: Once your account is active, you can check for the Phoenix Overseas Limited IPO details in the IPO section of the Alice Blue platform.
2. Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
3. Submit the Application: Confirm all your details and submit your application.

 You can apply for the Phoenix Overseas Limited IPO at Alice Blue in just a few clicks!

Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.

Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.

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How do you check Phoenix Overseas IPO Allotment Status?

Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:

1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the Phoenix Overseas Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Phoenix Overseas Limited IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.

 If you face any issues, we request you to reach out to our customer support team at Alice Blue for detailed assistance. 

 Apart from Alice Blue, there are other ways to check the allotment status of the Phoenix Overseas Limited IPO:

● Registrar’s Website: Visit the website of Cameo Corporate Services Limited, the registrar of the Phoenix Overseas Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.

● NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) Small Medium Exchange (SME). You would need your application number and PAN to check the status. 

Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.

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Phoenix Overseas Ltd IPO Offer Registrar

The registrar for the Phoenix Overseas Limited IPO is Cameo Corporate Services Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly. 

Contact information for the registrar: 

CAMEO CORPORATE SERVICES LIMITED

No. 1 Club House Road 

Chennai-600002

Tamil Nadu, India

Tel No.: +91-44-40020700

Email: [email protected]

Website: https://www.cameoindia.com 

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Phoenix Overseas IPO – FAQs