In the ever-competitive world of marketing consulting, a Chennai-based marketing consulting company, Toss The Coin, on Tuesday (December 17) made its debut on the BSE SME platform, listing its shares at Rs 345.80. This debut marked a remarkable 90 per cent premium over its IPO issue price of Rs 182.
Grey Market Premium
Before even ringing the opening bell, Toss The Coin’s shares were already creating a buzz in the grey market. Its shares were trading at a premium of Rs 214, suggesting a likely listing price of Rs 398 per share. This price reflected a staggering 117.58 per cent jump over the IPO’s upper price band of Rs 182.
IPO Details
Toss The Coin’s IPO, a fresh issue worth Rs 9.17 crore, opened for subscription on December 10 and closed on December 12.
The price band for the issue was kept between Rs 172 and Rs 182 per share, with a minimum lot size of 600 shares.
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Through the funds raised through the issue, the company aimed to use it to strengthen and expand its marketing consulting services for B2B technology clients. Moreover, prior to the IPO opening, the BSE SME issue raised Rs 2.60 from anchor investors.
Taking of the subscription status, Toss the Coin IPO on the final day of bidding,received a jaw-dropping subscription rate of 1025.76 times.
Investors breakdown
Retail Investors: The stars of the show, saw a subscription rate of 1550.76 times their allocation.
Non-Institutional Investors (NIIs): Close behind, this portion was subscribed 964.18 times.
Qualified Institutional Buyers (QIBs): This portion of the issue was subscribed 147.69 times their reserved portion.
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Key Players Behind the IPO
The IPO process was handled by Beeline Capital Advisors, who served as the book-running lead manager. Link Intime India was appointed as the registrar. Additionally, Spread X Securities took on the role of market maker.
About the company
Incorporated in 2020, Toss The Coin focuses on customised solutions for B2B technology companies. The firm’s expertise ranges from branding strategies to content development,
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