The IPO of Toss The Coin, a marketing consulting firm, concluded on December 12 with significant investor interest, setting a new benchmark in oversubscription. This IPO, consisting of a fresh issue of shares worth Rs 9.17 crore, highlighted the company’s appeal to a diverse investor base.
Subscription Numbers at a Glance
The Toss The Coin IPO recorded an extraordinary subscription rate of 1,025.76 times by the end of Day 3. The retail investor category led with a subscription of 1,550.76 times, showcasing robust demand.
Non-institutional investors (NIIs) subscribed 964.18 times, while qualified institutional buyers (QIBs) contributed a subscription rate of 147.69 times.
GMP and Expected Listing Price
The grey market premium for Toss The Coin stood at Rs 199 on the final day of bidding, hinting at an estimated listing price of Rs 381 per share.
This represents a 109% premium over the upper price band of Rs 182, indicating strong optimism among market participants. It’s important to note that GMP reflects speculative sentiment and is not an official indicator of listing performance.
IPO Price Band and Participation Requirements
The IPO price was set at Rs 172 to Rs 182 per share, requiring retail investors to make a minimum investment of Rs 1,09,200 for one lot of 600 shares. While this made the IPO accessible to committed investors, the relatively high minimum investment underscores the need for careful consideration.
Planned Use of Funds
Proceeds from the IPO are earmarked for the following purposes:
- Developing a Microservices Application to enhance service delivery.
- Opening new offices to expand the company’s footprint.
- Meeting working capital requirements.
- General corporate purposes.
These investments aim to support Toss The Coin’s strategic goals and strengthen its market position.
Business Profile and Strategic Vision
Toss The Coin offers tailored marketing solutions to B2B tech organizations, covering branding, content development, and design workshops.
The firm has established itself as a trusted partner in crafting innovative strategies for tech-driven businesses.
Financial Highlights
Despite a 38% drop in profit after tax to Rs 109.85 lakh in FY24, Toss The Coin’s revenue rose marginally to Rs 486.19 lakh. The profit decline reflects the company’s focus on reinvesting in growth initiatives, a strategy aimed at long-term value creation.
Key Dates for Investors
- Allotment Date: December 13, 2024
- Listing Date: December 17, 2024
The overwhelming subscription rates and positive GMP underscore investor confidence in Toss The Coin’s growth potential. However, potential investors should evaluate risks, including the company’s financial volatility and broader market conditions.
Disclaimer – This article is for informational purposes only and does not constitute investment advice. Readers should consult financial advisors before making investment decisions. All data and figures are based on public sources and subject to verification. MarketScope Daily is not responsible for any investment decisions made based on this content.
