This SME stock soars 35% in 2 days; zoomed 243% over issue price in 12 days

Toss The Coin shares hit a new high of Rs 623.80, surging 15 per cent on the BSE in Thursday's intra-day trade amid heavy volumes, and extending their upward movement since listing last month

Shares of Toss The Coin hit a new high of Rs 623.80, surging 15 per cent on the BSE in Thursday’s intra-day trade amid heavy volumes, and extending their upward movement since listing on the bourses last month. In two days, the market price of the SME (Small and Medium Enterprises) company has rallied 35 per cent. 

 

The exchanges have revised the price band of the company from 5 per cent to 20 per cent with effect from Wednesday, January 1, 2025. Toss The Coin had made its market debut on December 17, 2024.

 

Since its debut, in 12 trading days, Toss The Coin share price has zoomed 243 per cent against its issue price of Rs 182 per share. The company had made a stellar debut on the BSE SME at Rs 363, doubling investors' money on the listing day.

 

 

At 09:50 AM, the stock was trading 6 per cent higher at Rs 575, as compared to the 0.33 per cent rise in the BSE Sensex. As many as 80,000 shares have changed hands in the first 35 minutes of trading, as compared to an average of 71,000 shares of the company trading in the past two weeks.

 

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.

 

The Toss The Coin IPO had received massive demand from investors, with the issue being oversubscribed by over 1,025 times. The Rs 9.17-crore public offering comprised 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. 

 

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.

 

According to a survey by Forbes magazine, 82 per cent of consumer’s shop or conduct research online. The companies have introduced visibility through digital platforms to close the gap between customers and brands. 

 

India is the second-largest country in terms of population and active internet users, with a population of almost 1.45 billion. This makes it one of the biggest markets, and the market's soaring demand reflects the vast growth potential of the nation. 

 

Therefore, if one has the necessary expertise and understanding in this area, they can succeed in this dynamic sector. According to a Goldman Sachs research note, digital marketing will have a future value of $160 billion by 2025, which is three times its current value.