Toss The Coin IPO opened for subscription on Tuesday, and it achieved full subscription within the initial hours. The SME IPO is a fresh issue of 5.04 lakh shares, amounting to ₹9.17 crore. Investors looking to participate in the IPO should be aware of its subscription status, price band, and other essential details before bidding.
Subscription Status And Key Details
The Toss The Coin IPO will remain open for subscription until December 12, with the allotment of shares set for December 13. Successful bidders will receive shares in their demat accounts on December 16, and the shares will list on the BSE SME platform on December 17.
The IPO has a price band of ₹172 to ₹182 per share, with retail investors required to purchase at least one lot of 600 shares. This makes the minimum investment ₹1,09,200.
As of 2:41 PM on Day 1, the IPO saw an impressive subscription status:
- Qualified Institutions: 0.01 times
- Non-Institutional Buyers: 41.74 times
- Retail Investors: 107.86 times
Overall, the IPO has been subscribed 62.99 times, reflecting strong demand from retail and non-institutional investors.
Toss The Coin IPO GMP
The grey market premium (GMP) for Toss The Coin IPO stood at ₹200 as of 1:02 PM on Day 1. This indicates a potential listing price of ₹382 per share, translating to an impressive 109.9% gain over the issue price.
While the GMP reflects positive investor sentiment, it is essential to note that GMP is speculative and not an official indicator of the stock’s listing performance.
Business And Operations
Toss The Coin Ltd. operates as a marketing consulting firm specializing in custom solutions for B2B technology companies. The company offers a range of services, including:
- Branding and Consulting: Crafting tailored strategies for clients.
- Content Development and Design: Creating engaging content and designs.
- Websites and Social Media Campaigns: Enhancing online presence and outreach.
- Customer Success Management: Ensuring client satisfaction.
- Problem-Solving Workshops: Using design thinking methodologies.
The company’s expertise in crafting go-to-market strategies has made it a preferred partner for several tech firms.
Financial Highlights
Toss The Coin Ltd.’s financial performance has shown mixed results:
- Revenue:
- ₹4.35 crore for the six months ended September 30, 2024.
- ₹4.96 crore in FY24 (2.5% YoY growth from ₹4.83 crore in FY23).
- Net Profit:
- ₹1.16 crore for the period ended September 30, 2024.
- ₹1.09 crore in FY24 (a 38% YoY decline from ₹1.78 crore in FY23).
Despite a dip in net profit, the company’s focus on innovation and expansion has helped it maintain steady revenue growth.
Use Of IPO Proceeds
The proceeds from Toss The Coin IPO will be utilized for the following purposes:
- Developing A Microservices Application: Investment in advanced technology to enhance service offerings.
- Opening New Offices: Expanding its geographic footprint.
- Working Capital: Meeting operational requirements.
- General Corporate Purposes: Strengthening the company’s financial position.
Lead Managers And Registrars
Link Intime India Pvt. has been appointed as the registrar for the IPO, ensuring smooth share allotment and refund processes. Beeline Capital Advisors Pvt. serves as the book-running lead manager, while Spread X Securities acts as the market maker for the issue.
Investor Insights
Toss The Coin IPO’s robust subscription numbers highlight strong market confidence in the company’s growth potential. The firm’s focus on B2B marketing, coupled with its expansion plans, positions it as an exciting opportunity for investors seeking exposure to the SME segment.
However, potential investors should consider key risks, including:
- Dependence On Clients: The company’s revenue is closely tied to its clients in the tech sector.
- Profitability Pressures: Declining net profits could impact investor returns.
- Competitive Industry: Operating in a highly competitive market poses challenges.
Key Dates And Listing Expectations
- Issue Closes: December 12, 2024
- Allotment Date: December 13, 2024
- Credit To Demat Accounts: December 16, 2024
- Listing Date: December 17, 2024
With a strong GMP and high subscription levels, Toss The Coin IPO is expected to list at a premium. Investors are advised to stay informed about subscription updates and evaluate the offering based on their risk tolerance and investment goals.