Phoenix Overseas IPO allotment expected today: Step-by-step guide to check your allotment status online

Phoenix Overseas IPO: Phoenix Overseas Limited's initial public offering (IPO) received an overwhelming response from investors, with the subscription closing at 119.22 times on its final day.

Shivangini
Published25 Sep 2024, 02:16 PM IST
Phoenix Overseas IPO: Here are the steps to check allotment status online
Phoenix Overseas IPO: Here are the steps to check allotment status online

Phoenix Overseas IPO allotment status: The initial public offering (IPO) of Phoenix Overseas Limited, which was open for subscription from September 20 to 24, garnered overwhelming interest from investors. 

The Phoenix Overseas IPO share allotment is expected to be finalised today, September 25. Investors who participated in the bidding will be informed of their allotment status via SMS and email.

The shares will be credited to investors' Demat accounts by September 26, and refunds, if applicable, will be processed on the same day. The company plans to list its shares on the NSE SME platform Emerge, with a tentative listing date of September 27, 2024.

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IPO subscription details

The public issue saw an impressive subscription rate of 119.22 times by the end of Day 3 (September 24, 2024), reflecting robust demand across all investor categories.

Retail investors led the charge, with their portion subscribed 148.43 times, indicating high enthusiasm for the IPO. Non-Institutional Investors (NII) also showed significant interest, subscribing 109.71 times. The Qualified Institutional Buyers (QIB) segment was subscribed 65.74 times, while the Market Maker portion was fully subscribed. This strong response across all categories demonstrates the positive market sentiment surrounding Phoenix Overseas.

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Phoenix Overseas' IPO consists of a fresh issue of 45.8 lakh shares worth 29.31 crore, along with an offer-for-sale (OFS) of 10.5 lakh shares valued at 6.72 crore. The company set the price band at 61- 64 per share, and the minimum lot size was 2,000 shares.

How to Check Phoenix Overseas IPO allotment status

Investors can check their allotment status on both the NSE and the registrar’s website, Cameo Corporate Services. To check on Cameo's site:

  • Visit https://cambridge.cameoindia.com/ 
  • Select "IPO status" and choose Phoenix Overseas Ltd from the dropdown.
  • Enter your PAN or application number, fill in the captcha, and submit to view the status.

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On NSE’s website:

Phoenix Overseas plans to use the IPO proceeds to meet its working capital needs, finance growth opportunities, and cover general corporate expenses.

Company background

Founded in 2002, Phoenix Overseas Limited specialises in trading agricultural products and animal feeds. The company deals in commodities such as corn, oil cakes, and spices.

Phoenix Overseas' successful IPO subscription reflects the company’s strong market positioning and positive investor sentiment, which bodes well for its future performance on the NSE SME platform.

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First Published:25 Sep 2024, 02:16 PM IST
Business NewsMarketsIPOPhoenix Overseas IPO allotment expected today: Step-by-step guide to check your allotment status online

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