The SME IPO of Toss The Coin has witnessed an overwhelming response from investors, with the overall subscription reaching 929.39 times, according to the latest data. The Rs 9.17-crore public offering has captured significant interest across all investor categories, surpassing expectations.
Subscription Details
- Qualified Institutional Buyers (QIBs): Subscribed 147.69 times with 95,400 shares offered, attracting 1,40,89,800 bids. Notable participation included:
- Foreign Institutional Investors (FIIs): 27 applications for 61,02,000 shares.
- Domestic Financial Institutions: 1 application for 1,88,400 shares.
- Others: 40 applications for 77,99,400 shares.
- Non-Institutional Investors (NIIs): Subscribed 707.05 times with 97,800 shares offered, receiving bids for 6,91,49,400 shares. Breakdown:
- Corporates: 226 applications for 25,49,400 shares.
- Individuals (other than RIIs): 21,610 applications for 6,54,73,200 shares.
- Others: 133 applications for 11,26,800 shares.
- Retail Individual Investors (RIIs): A phenomenal response with subscriptions soaring to 1,502.73 times. A total of 1,68,000 shares offered received bids for 25,24,57,800 shares.
- Cut-Off Applications: 2,76,732 applications for 16,60,39,200 shares.
- Price Bids: 1,44,091 applications for 8,64,18,600 shares.
IPO Highlights
- Price Band: Rs 172-182 per share.
- Lot Size: 600 shares.
- Grey Market Premium (GMP): Trading at a premium of Rs 199, indicating a likely listing price of Rs 381 per share—a 109% gain over the upper price band.
- Allotment Date: December 13, 2024.
- Listing Date: December 17, 2024, on the BSE SME platform.
- Registrar: Link Intime India.
- Lead Manager: Beeline Capital Advisors.
Objective of the IPO
The company aims to use the IPO proceeds for:
- Development of microservices applications.
- Opening new offices.
- Funding working capital requirements.
- General corporate purposes.
Company Overview: Established in 2020, Toss The Coin is a marketing consulting firm specializing in B2B technology companies. It provides tailored solutions in branding, marketing strategy, content creation, and design, supporting organizations to achieve growth and market success.
