Toss The Coin IPO Details: Price Band, Allotment, Listing Dates Revealed
The initial public offering (IPO) of Toss The Coin, a marketing consulting firm, has generated significant interest, with its grey market premium (GMP) witnessing a sharp rise ahead of its opening on Tuesday.
Toss The Coin IPO Details: Price Band, Allotment, Listing Dates Revealed
The initial public offering (IPO) of Toss The Coin, a marketing consulting firm, has generated significant interest, with its grey market premium (GMP) witnessing a sharp rise ahead of its opening on Tuesday. Industry sources tracking GMP trends reported that unlisted shares of Toss The Coin were trading at Rs 382 per share, reflecting a premium of Rs 200 or 109.89 per cent over the IPO’s upper price band of Rs 182.
The Toss The Coin IPO aims to raise Rs 9.17 crore through the issuance of 504,000 new shares. Shares are priced within a band of Rs 172 to Rs 182, with investors required to place bids for a minimum of 600 shares and multiples thereafter. The subscription period for the public offering began on December 10 and will close on Thursday.
The company disclosed that it has already secured Rs 2.60 crore from anchor investors as part of the bidding process concluded on Monday.
The allotment process for the IPO shares is scheduled to be finalised on Friday. Those allotted shares will see them credited to their demat accounts by December 16. Toss The Coin’s equity shares are expected to debut on the BSE SME platform on Tuesday, December 17.
The proceeds from the IPO will be allocated towards the development of microservices applications, expanding office locations, and supporting working capital needs. A portion of the funds will also be utilised for general corporate expenses.
Beeline Capital Advisors has been appointed as the book-running lead manager for the offering, while Link Intime India will handle the IPO's registrar activities, ensuring a smooth allotment and refund process.
Founded in 2020, Toss The Coin specialises in providing marketing consulting services tailored for B2B technology companies. Its offerings include branding, marketing strategy development, content creation, and design services. The firm collaborates with tech enterprises of various scales to craft go-to-market strategies and deliver consulting solutions aimed at achieving business goals.
