The initial public offering of Phoenix Overseas Ltd. received a tremendous response from the investors as the SME issue was subscribed 119.22 times on its third and final day. The demand for the IPO was led by retail investors followed by non-institutional investors who subscribed the issue 148.43 and 109.71 times respectively.
The initial public offering of Phoenix Overseas Ltd. was launched on September 20 and closed on September 24. The book-build issue of Rs 36.03 crore is a mix of fresh issuance and offer for sale portion. The issue size constitutes a fresh issuance of 45.8 lakh shares totalling Rs 29.31 crore and an offer for sale (OFS) portion of 10.5 lakh shares amounting to Rs 6.72 crore.
The SME issue of Phoenix Overseas Limited was subscribed 1.09 times on Day 1 and 17.79 times on Day 2.
The allotment for Phoenix Overseas SME IPO will be finalised on Wednesday, September 25. Shares of Phoenix Overseas Limited will list on NSE SME (Emerge) with a tentative listing date of Friday, September 27.
Investors who bid for the issue can check the Phoenix Overseas IPO allotment status on Cameo Corporate Services. Successful bidders will get the credit of shares to their demat accounts on September 26. Refunds for non-allottees will also be initiated on the same day.
How to check Phoenix Overseas IPO allotment status on Cameo Corporate Services Limited
Visit the IPO allotment page on Cameo Corporate Services here.
Select 'Phoenix Overseas Limited' from the company drop-down list on the IPO Allotment Status page.
Choose one of the options: PAN number, DP Client ID, or Application Number, and enter the respective number in the provided field.
Fill in the captcha code as shown.
Click on the 'Submit' button.
Your IPO allotment status will be displayed on the screen.
Phoenix Overseas IPO GMP On Allotment Day
The grey market premium (GMP) of Phoenix Overseas IPO is Rs 40 as of 6:03 a.m. on September 25, implying a 62.5% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 104 per share. GMP is not an official price quote for the stock and is based on speculation.
Also Read: Tips to Maximize Your IPO Allotment Chances
Phoenix Overseas IPO Day 3 Subscription Status
The IPO was subscribed 119.22 on Tuesday
Qualified institutions: 65.74 times
Non-institutional buyers: 109.71 times
Retail investors: 148.43 times
Phoenix Overseas IPO: All You Need To Know
The company had fixed the price band for the public offer in the range of Rs 61 to Rs 64 apiece. Retail investors could bid in this SME IPO with a minimum lot size of 2,000 shares amounting to Rs 1,28,000 at the upper price band.
The company had appointed Khandwala Securities Ltd. as the book-running lead manager for the IPO. Cameo Corporate Services Ltd. is the registrar for the issue.
Nikunj Stock Brokers SKI is acting as the market maker for Phoenix Overseas IPO.
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