High retail demand drove the Phoenix Overseas IPO (Phoenix Overseas Limited IPO) to full subscription on the first day of bidding on Friday, September 20. A total of 1.03 times as many shares were subscribed to the NSE SME issue overall,

According to stock market observers, shares of the company are available at a premium of ₹10 in the grey market today

The grey market premium (GMP) of Phoenix Overseas IPO is Rs 25 as of 01:24 p.m. on Friday, implying a 39.06% gain over the IPO price.

Phoenix Overseas will launch its SME IPO today, aiming to raise Rs 36 crore. The IPO includes fresh equity shares and an offer for sale, with a price band of Rs 61-64 per share. The company is involved in trading and exporting agricultural products and manufacturing fashion accessories.

SD Retail IPO opened on September 20, aiming to raise ₹64.98 crore through 49.6 lakh shares. The net proceeds of the issue will be used to fund capital expenditures for setting up new exclusive brand outlets.

Mumbai-based Arkade Developers sold its IPO in the price band of Rs 121-128 per share with a lot size of 110 shares, which was open for bidding between September 16 and September 19.