Bumper debut! Toss The Coin lists at 90% premium, hits upper circuit later

Toss The Coin IPO listing today: Shares Toss The Coin made a solid debut on the BSE SME today, continuing their upward momentum to hit the upper circuit within a few minutes of listing. The company's stock listed at Rs 345.8 a piece, a 90 per cent premium over the IPO allotment price of Rs 182.

 

After listing, the stock gained an additional 5 per cent, surging 99.4 per cent from the issue price to reach the upper circuit of Rs 363.05 apiece on the BSE SME. During the session, nearly 53 thousand shares, valued at Rs 1.90 crore, were traded before trading was halted.

 

The Toss The Coin IPO listing aligns with grey market trends, as the company’s shares were commanding a solid premium in unofficial markets. Ahead of the listing, Toss The Coin shares were trading at Rs 396 apiece, reflecting a grey market premium (GMP) of Rs 214 or 117.58 per cent, revealed sources tracking grey market activities.

 

The Toss The Coin IPO, which closed for subscription on Thursday, December 12, 2024, received massive demand from investors, with the issue being oversubscribed over 1,025 times. The Rs 9.17-crore offering comprises an entirely fresh issue of 504,000 shares, priced in a band of Rs 172-182 per share with a lot size of 600 shares. The allotment for the IPO shares was finalised on Friday, December 13, 2024.

 

In its Red Herring Prospectus (RHP), Toss The Coin said that it intends to utilize the net proceeds from the IPO for funding capital expenditure for the development of microservices applications and opening new offices. The company further intends to use the proceeds for funding working capital requirements and general corporate purposes.

 

Link Intime India serves as the registrar for the Toss The Coin IPO, while Beeline Capital Advisors is the sole book-running lead manager of the public issue.

 

About Toss The Coin

Toss The Coin is a marketing consulting firm that helps B2B technology companies grow through customised solutions and expert consulting services. With expertise in marketing strategy, branding, content creation, and design, Toss The Coin develops effective go-to-market strategies for tech organizations of all sizes.