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Phoenix Overseas IPO Listing: Phoenix Overseas shares were listed on the stock market on Friday, September 27. It had a flat listing in the stock market. The company's shares were listed at Rs 64 on NSE SME, while the price of the shares was fixed at the same level in its IPO. After the flat listing, the company's shares fell sharply and a 5 percent lower circuit was applied to the shares. At around 10:45 am, the Phoenix Overseas share is at Rs 60.80 on NSE SME, with a fall of Rs 3.20 or 5 percent.
Phoenix Overseas Price Band
Phoenix Overseas' SME IPO of Rs 36.03 crore was open for subscription from September 20 to September 24. The price band of shares in the IPO was fixed at Rs 61. While the final price was fixed at Rs 64.
How much did you subscribe?
Phoenix Overseas IPO was in great demand and the issue was subscribed 119.22 times. The IPO received applications for 64.78 crore shares against 54.34 lakh shares. The retail investor segment was subscribed a massive 148.43 times.
What will you do with the fund?
Phoenix Overseas will use the funds raised through the IPO for several key purposes. These include meeting working capital requirements, pursuing inorganic growth initiatives to expand the business, and general corporate purposes.
