Phoenix Overseas IPO listing today: Here's what to expect
Phoenix Overseas will debut on the NSE SME platform on Friday. Ahead of the listing, the company's shares are trading with a GMP of Rs 15 in the grey market.
This indicates a likely listing premium of 23%, compared with an issue price of Rs 64 at the upper end.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO received robust subscription of over 100 times, driven by strong demand from retail and non-institutional investors.
The company is engaged into trading and exporting of animal feeds and agricultural produce and commodities such as corn, oil cakes, spices like dry red chilies, coriander, food grains like rice, wheat, corn, pulses and agricultural feed like soya bean meal and rice bran de-oiled cake.
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