Toss The Coin IPO opens: GMP up 110%; Check price band, lot size, more

Toss The Coin IPO opens today, December 10, 2024, and will close for public subscription on Thursday, December 12, 2024

Toss The Coin IPO GMP zooms: The unlisted shares of the marketing consulting company Toss The Coin were commanding a solid premium in the grey market ahead of the launch of its initial public offering (IPO) today, Tuesday, December 10, 2024. Sources tracking grey market activities revealed that Toss The Coin shares were trading at Rs 382 apiece, reflecting a grey market premium (GMP) of Rs 200 or 109.89 per cent per share against the upper end of the IPO price band of Rs 182.

 

Toss The Coin announced that it has already raised Rs 2.60 crore from anchor investors during the bidding concluded on December 9, 2024.

 

 

The Rs 9.17 crore SME offering, which comprises an entirely fresh issue of 504,000 shares, is available at a price band of Rs 172–182 per share, with a minimum lot size of 600 shares. Thus, investors can bid for a minimum of 600 shares and in multiples thereof. 

  

The three-day subscription window for the Toss The Coin IPO is likely to conclude on Thursday, December 12, 2024. Subsequently, the basis of allotment is expected to be finalised on Friday, December 13, 2024. Successful allottees will receive the Toss The Coin shares in their demat accounts on Monday, December 16, 2024.

 

Toss The Coin shares are likely to list on the BSE SME on Tuesday, December 17, 2024.

 

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

 

Toss The Coin intends to utilise the net proceeds of the offering for funding capital expenditure for the development of microservices applications and opening new offices. The company also plans to use the proceeds for funding working capital requirements and general corporate purposes.

 

Incorporated in 2020, Toss The Coin offers marketing consulting services tailored to B2B tech companies. Its services include marketing strategy development, branding, content creation, and design. The company works with technology organisations of various sizes to develop go-to-market strategies and provide consulting services.