Robust Debut! Toss The Coin shares list at ₹345.80 on BSE SME, up 90% from IPO price | Stock Market News
Toss The Coin IPO listing: Toss The Coin shares made a strong debut on Tuesday, December 17 as they listed at ₹345.80 on BSE SME, a premium of 90 percent over the issue price of ₹182.
Toss The Coin’s SME initial public offering (IPO), valued at ₹9.17 crore, was open for subscription from December 10 to December 12. The Toss The Coin IPO price band stood at ₹172-182 per equity share.
Following the three days of bidding, Toss The Coin IPO closed with overwhelming demand, garnering 1,025.76 times bids. The IPO received bids for 34.40 crore shares against 3.35 lakh shares on offer. The retail investor segment was booked 1,550.76 times, while the non-institutional investors (NII) category was subscribed 964.18 times. Meanwhile, The qualified institutional buyers (QIB) portion was bid 147.69 times.
About the IPO
Toss The Coin IPO was entirely a fresh issue of 5.04 lakh shares. The was no offer for sale (OFS) component in the IPO. Post the issue, promoter shareholding in the company will reduce to 58.67 percent from 80 percent before the IPO. The company raised ₹2.60 crore from anchor investors on December 9, 2024. Retail investors could apply with a minimum lot size of 600 shares, requiring a minimum investment of ₹1.09 lakh.
The company plans to use the net proceeds from the issue to fund capital expenditure for developing a microservices application, setting up new offices, meeting its working capital requirements, and addressing general corporate purposes.
Of the net offer, 19 percent is reserved for qualified institutional bidders (QIBs). Non-institutional investors (NIIs) and retail investors will have allocations of 33 percent and 28 percent of the net offer, respectively.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Toss The Coin IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Toss The Coin IPO is Spread X Securities Private Limited.
“The company is engaged in marketing consultancy and related services. It marked inconsistency in its financial performance for the reported periods. Based on FY25 super annualized earnings, the issue appears fully priced. Tiny paid-up capital post IPO indicates longer gestation period for migration. Well-informed investors may park moderate funds for medium term,” said Dilip Davda of Chittorgarh.com, assigning a ‘may apply’ rating to the issue.
About the Company
Founded in 2020, Toss The Coin Limited specializes in providing tailored marketing consulting services, primarily catering to B2B tech companies. The company collaborates with a wide range of technology organizations, from startups to established firms, offering expertise in GTM strategies, branding, content development, web design, social media campaigns, customer success management, and design thinking-based workshops.
In the financial year ending March 31, 2024, Toss The Coin Limited reported a 2.49 percent increase in revenue compared to the previous fiscal year. However, its profit after tax (PAT) declined by 38.39 percent over the same period.
