Toss The Coin IPO: The initial public offer (IPO) of Toss The Coin, a marketing consulting company, kicked off for subscription on Tuesday, December 10.
Toss The Coin IPO is entirely a fresh issue of shares worth ₹9.17 crore. Toss The Coin IPO will close for subscription on Thursday, December 12. Ahead of the IPO opening, the company raised ₹2.60 crore from anchor investors.
The allotment for the Toss The Coin IPO is expected to be finalised on Friday, December 13, 2024. Toss The Coin IPO will likely list on the BSE SME platform on Tuesday, December 17, 2024.
The price band for Toss The Coin IPO has been fixed in the range of ₹172 to ₹182 per share. The minimum lot size for Toss The Coin IPO is 600 shares. Therefore, retail investors will need to shell out ₹1,09,200 to subscribe to one lot of the issue.
Toss The Coin IPO Subscription Status
The issue garnered a massive response for the issue on Day 1 as it was oversubscribed within the first few hours of opening. Toss The Coin IPO was subscribed 39.70 times as of 12.55 pm.
The retail investor category was booked the most at 68.77 times, followed by the non-institutional investor (NII) category which was subscribed 24.48 times. Meanwhile, the qualified institutional buyer (QIB) quota was off to a slow start, garnering 0.01 times bids so far.
Toss The Coin IPO GMP
Toss The Coin IPO grey market premium or GMP stood at ₹200, suggesting that the company shares are trading ₹200 higher than the IPO price of ₹182. At the current GMP, Toss The Coin IPO shares could list at ₹382 or a premium of 110%.
Toss The Coin IPO Objective
The company plans to use the funds raised via the IPO for funding capital expenditure for Development of Microservices Application and opening new offices. Apart from this, the company plans to use funds to meet working capital requirements and for general corporate purposes.
About Toss The Coin
Toss The Coin is a marketing consulting company, which provides custom-made marketing services to clients. It offers a full-suite marketing consulting agency for B2B tech organisations.
The company has worked with multiple technology organizations, big and small, to craft their GTM strategies – from branding, content development, designs, websites, social media campaigns, partner/customer success management, and design thinking-based problem-solving workshops to consulting.
Financially, the company witnessed a drop of 38% year-on-year in its profit after tax for FY24 to ₹109.85 lakh. The figure stood at ₹178.29 lakh in FY23. Meanwhile, revenue from operations witnessed a marginal rise to ₹486.19 lakh from ₹478.35 YoY.
Beeline Capital Advisors Pvt Ltd is the book-running lead manager for the Toss The Coin IPO, while Link Intime India Private Ltd serves as the registrar for the issue.
