Phoenix Overseas IPO Day 3: SME issue booked 119 times. GMP, subscription status, review and other details in 10 points

  • Phoenix Overseas IPO GMP: According to stock market observers, shares of the company are available at a premium of 30 in the grey market today.

Asit Manohar, Edited By Ujjval Jauhari
Updated24 Sep 2024, 04:23 PM IST
Phoenix Overseas IPO: The company has fixed the IPO price band at  <span class='webrupee'>₹</span>61 to  <span class='webrupee'>₹</span>64 per equity share.
Phoenix Overseas IPO: The company has fixed the IPO price band at ₹61 to ₹64 per equity share.

Phoenix Overseas IPO: The initial public offering (IPO) of Phoenix Overseas Limited hit the Indian primary market on September 20. The public issue will remain open for bidding until Tuesday, September 24. 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 investors. 

Meanwhile, the rising grey market premium gives 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 30 in the grey market on Tuesday. The GMP has risen from 25 on Monday and 10 on Friday (opening date of the IPO).

 

Also Read | Kalana Ispat IPO: Here are the steps to check allotment status online, GMP

Phoenix Overseas IPO subscription status

The Phoenix Overseas IPO was subscribed 119.22 times on September 24, 2024,  The public issue had been subscribed 148.43 times in the retail category, 65.74 times in the QIB category, and 109.71 times in the NII category.

Also Read | Sadhana Nitrochem Rights Issue: 10 things you should know before subscribing

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 30 in the grey market on Tuesday. The GMP has increased as the shares were available at a premium of 10 on Friday, Day 1 of the IPO.

2] Phoenix Overseas IPO date: The public issue hit the Indian primary market on September 20 and remained open until September 24, 2024.

 

Also Read | Osel Devices share price lists with decent 23.7% premium at ₹198.05

3] Phoenix Overseas IPO price: The company has fixed the 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 Wednesday, September 25, 2024. 

7] Phoenix Overseas IPO registrar: Cameo Corporate Services Limited has been appointed as the 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 27, 2024, in accordance with the 'T+3' listing rule.

10] Phoenix Overseas financials: During FY24, the company's revenue grew by 22 per cent year over year, and its profit after tax (PAT) surged, going up 46 per cent in the financial year 2023-24.

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First Published:24 Sep 2024, 04:23 PM IST
Business NewsMarketsIPOPhoenix Overseas IPO Day 3: SME issue booked 119 times. GMP, subscription status, review and other details in 10 points

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