{"id":42321,"date":"2024-09-20T13:12:23","date_gmt":"2024-09-20T07:42:23","guid":{"rendered":"https:\/\/prevalentindia.in\/index.php\/2024\/09\/20\/phoenix-overseas-limited-ipo-opens-on-september-20-2024\/"},"modified":"2024-09-20T13:12:23","modified_gmt":"2024-09-20T07:42:23","slug":"phoenix-overseas-limited-ipo-opens-on-september-20-2024","status":"publish","type":"post","link":"https:\/\/prevalentindia.in\/index.php\/2024\/09\/20\/phoenix-overseas-limited-ipo-opens-on-september-20-2024\/","title":{"rendered":"Phoenix Overseas Limited IPO Opens on September 20, 2024"},"content":{"rendered":"
\n
\n

Mumbai (Maharashtra) [India], September 19: <\/strong>Phoenix Overseas Limited excels in trading and manufacturing agricultural commodities, animal feeds, fashion accessories, and food preservation, proposes to open its Initial Public Offering on September 20, 2024, aiming to raise \u20b9 36.03 Crores with shares to be listed on the NSE Emerge platform.<\/p>\n

The issue size is\u00a0Up To\u00a056,30,000\u00a0equity shares at\u00a0a\u00a0face value of\u00a0\u20b9\u00a010\u00a0each.<\/strong><\/p>\n

Equity Share Allocation<\/strong><\/p>\n

\u25cf\u00a0Qualified Institutional Buyer\u00a0\u2013\u00a08,02,000\u00a0Equity Shares<\/p>\n

\u25cf\u00a0Non-Institutional Investors\u00a0\u2013\u00a0At Least\u00a023,00,000\u00a0Equity Shares<\/p>\n

\u25cf\u00a0Retail Individual Investors\u00a0\u2013\u00a0At Least\u00a022,46,000\u00a0Equity Shares<\/p>\n

\u25cf\u00a0Market Maker \u2013\u00a02,82,000\u00a0Equity Shares<\/p>\n

The net proceeds from the IPO will be utilized for\u00a0Funding of working capital requirements, Pursuing Inorganic Growth Initiatives\u00a0and the\u00a0general corporate\u00a0purpose. The issue will close on September\u00a024, 2024.<\/p>\n

The Book Running Lead Manager to the Issue is Khandwala Securities Limited, and The Registrar to the Issue is Cameo Corporate Services Limited<\/p>\n

Mr Aparesh Nandi, Chairman and Managing Director of Phoenix Overseas Limited, expressed, \u201cAs the company prepares for its IPO, we are proud to reflect on our journey and achievements. From being recognised as a Three-Star Export House by the Ministry of Commerce and Industry, Government of India, we have built a diversified business spanning agricultural exports, jute and fashion accessory manufacturing, and food preservation.<\/p>\n

The upcoming IPO marks a significant milestone in our journey. It will fuel our future growth by allowing us to strengthen our presence in emerging markets, expand our product portfolio, and enhance our global reach. With a solid foundation in agricultural exports, jute manufacturing, and cold storage solutions, we are well-positioned to scale our operations, drive innovation, and capitalize on new opportunities in an ever-evolving global landscape. This move will reinforce our commitment to delivering consistent value while positioning us for long-term success.\u201d<\/p>\n

Mr. Rinav Manseta, Associate Director of Khandwala Securities Limited said, \u201cPhoenix Overseas Limited is set for an exciting leap forward with their upcoming IPO. This move represents a crucial opportunity to drive further expansion and innovation, particularly as the industry experiences robust growth. The company has consistently showcased impressive progress across its diverse business segments, from merchant export and manufacturing to food preservation.<\/p>\n

This IPO will provide the necessary capital to strengthen their financial foundation, fuel strategic acquisitions, and support long-term business objectives. We are confident that the company is well-positioned to capitalize on these industry trends and achieve continued success, and we look forward to being part of their journey as they enter this new phase.\u201d<\/p>\n

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Mumbai (Maharashtra) [India], September 19: Phoenix Overseas Limited excels in trading and manufacturing agricultural commodities, animal feeds, fashion<\/p>\n","protected":false},"author":1,"featured_media":42322,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[575],"class_list":["post-42321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/posts\/42321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/comments?post=42321"}],"version-history":[{"count":0,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/posts\/42321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/media\/42322"}],"wp:attachment":[{"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/media?parent=42321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/categories?post=42321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prevalentindia.in\/index.php\/wp-json\/wp\/v2\/tags?post=42321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}