IPO Details
Bidding Dates
20 Sept 24 - 24 Sept 24
Price Range ₹
61 - 64
Total Equity
₹ 36.03Cr
Lot Size
2000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
20 Sept 2024
Offer end
24 Sept 2024
Allotment
25 Sept 2024
Refund initiation
26 Sept 2024
Demat transfer
26 Sept 2024
Listing
27 Sept 2024
Offer start
20 Sept 2024
Offer end
24 Sept 2024
Allotment
25 Sept 2024
Refund initiation
26 Sept 2024
Demat transfer
26 Sept 2024
Listing
27 Sept 2024
About Company
Founded in December 2002, Phoenix Overseas Limited engages in the trading and marketing of animal feeds, agricultural products, and commodities such as corn, oil cakes, spices (including dry red chillies, coriander, and cumin seeds), food grains, tea, pulses, soybean meal, and rice bran de-oiled cake. Specializing in B2B trading, the company primarily focuses on corn/maize and oil cakes. In addition to its trading activities, Phoenix Overseas Limited manufactures a variety of bags for men and women made from jute, cotton, canvas, and leather, along with other fashion accessories. Its clientele spans across European countries like France, Italy, Germany, the UAE, and Australia. The company's manufacturing facility is based in Sodhpur, Kolkata, producing purses, wallets, and other shopping and fashion bags. Competitive Strengths: - Strong presence in agro-commodity trading, with the flexibility to shift between exports and imports based on seasonal demand or pricing fluctuations. - Long-term partnerships with clients, both domestically and internationally. - As of September 2024, the company employs 29 staff members and 3 contractual employees, including its directors, overseeing various business operations.
Year Founded
31-12-2002
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 99.16 | 0 |
| Share Capital | 14641722 | 0 |
Offer to Public
56,30,000.00 Cr
Project Details
- Pursuing Inorganic Growth Initiatives - 60cr
- Funding our working capital requirements - 100cr
Objectives
- Funding our working capital requirementsPursuing inorganic growth initiatives#General corporate purposes
Highlights
- ISO certifications for quality, environmental, and occupational safety standards.
- Advanced cold storage facilities with significant capacity for food preservation.
- Strategic warehouse location near the Indo-Bangladesh border for commodity storage.
- Strong international presence, serving clients in Europe, the UAE, and Australia.
- Consistent revenue growth, showcasing a robust financial performance over the years.
Challenges
- A significant portion of Phoenix Overseas's exports are directed to Bangladesh, contributing Rs 522.34 crore, Rs 415.67 crore, and Rs 291.41 crore in FY24, FY23, and FY22, respectively. Current political instability in Bangladesh could pose risks to the company's operations.
- The top 10 customers account for substantial revenue, with contributions of Rs 517.11 crore, Rs 369.81 crore, and Rs 289.07 crore in FY24, FY23, and FY22, respectively. Loss of these key clients or a drop in their demand could adversely affect the company's financial performance.
- A significant part of the company's revenue is generated by its merchant export division, which contributed Rs 542.99 crore, Rs 444.81 crore, and Rs 373.26 crore in FY24, FY23, and FY22, respectively. Any disruptions in export operations could negatively impact the company’s business and financial stability.
- The company's performance is closely tied to the potato crop in West Bengal, especially in the Malda district. Crop failures could adversely affect the company's business operations.
- A large portion of the company's exports, 40.51%, 81.47%, and 99.81% in FY24, FY23, and FY22 respectively, are handled through ports in West Bengal. Disruptions at these ports could significantly impact the company's export activities and financial health.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2023 | 14,686.47 | 492.20 | 371.49 | 375.60 | 2.5437 |
| 2022 | 9,480.59 | 492.20 | 538.38 | 550.02 | 3.7249 |
| 2021 | 10,316.04 | 492.20 | 538.38 | 550.02 | 3.7249 |
| 2024 | 13,162.58 | 492.20 | 371.49 | 375.60 | 2.5437 |
