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Shares of Toss The Coin hit a new high at Rs 842.55, on hitting the 5 per cent upper circuit on the BSE in Thursday’s intra-day trade in an otherwise weak market. The BSE Sensex was down 0.65 per cent at 77,644 at 02:28 PM.
In the past three days, the stock price of the SME (Small and Medium Enterprises) company has rallied 21 per cent. Since listing on December 16, 2024, it has zoomed 132 per cent from a level of Rs 363.05. It skyrocketed 363 per cent against its issue price of Rs 182 per share. The company made a stellar debut on the BSE SME at Rs 363, doubling investors' money on the listing day, December 17, 2024.
The upward movement in stock price of Toss The Coin was seen even as the exchange lowered the circuit limit, and clarification by the company on the price rise.
“The movement in the company’s share price is purely market driven and owing to the market conditions on which the company, neither, has any control nor has any knowledge of reasons,” Toss The Coin said in its clarification on the price movement on Monday, January 6, 2025.
There is no undisclosed / price sensitive information or any impending announcement / corporate action which needs to be informed to the stock exchanges at this point of time and which may have a bearing on the price / volume behaviors in the company’s scrip, Toss The Coin said.
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The exchanges had revised the price band of Toss The Coin from 5 per cent to 20 per cent with effect from Wednesday, January 1, 2025. However, with effect from January 3, 2025, BSE had revised the price band to 10 per cent and further, to 5 per cent with effect from Wednesday, January 8.
Currently, Toss The Coin is trading under “MT” group on the BSE. The BSE SME scrips which are listed under the "M" group (trading and clearing & settlement is done on a net basis) and those listed under "MT" group (trading and clearing & settlement done on gross basis).
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 organisations of all sizes.
In its Red Herring Prospectus (RHP), Toss The Coin said that it intends to utilise 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.
The company’s clients comprise start-ups, SMEs, and large enterprises. These companies serve as trusted partners for their customers in the US, the UK, LATAM, Europe, Middle East, India, and Asia-Pacific regions.
Most of the company's clients are in the B2B tech (IT services) space. A few of the clients provide next-gen products to enable and empower digital transformation while some of them help their customers transform through consulting, industry solutions, business process services, IT modernisation, and managed services, the company said.
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