Toss The Coin IPO Day 1: BSE SME issue fully subscribed within hours of launch on high retail demand, check details

The initial public offering (IPO) of Toss The Coin Limited generated significant interest among investors across categories as the issue was fully subscribed within hours of launch on Tuesday, December 10.

The BSE SME issue was subscribed more than 84 times, driven by retail investors.

The investors applied for more than 3.06 crore shares against 3.61 lakh shares on offer, leading to an overall subscription of 84.79 times.

The ₹9.17-crore book-building issue will close for subscription on December 12.

Here’s a look at the latest subscription status and other important details about the BSE SME IPO.

Toss The Coin IPO subscription status

The retail portion of the IPO was booked 156.19 times on the first day with bids for more than 2.62 crore shares against 1.68 lakh shares reserved for the category. The Non-Institutional Investors (NIIs) also showed strong interest by applying for 43.86 lakh shares against 97,800 shares on offer. The NIIs quota was booked 44.85 times, the BSE data showed.

The Qualified Institutional Buyers (QIB) applied for only 1,200 shares compared to 95,400 shares set aside for them.

Toss The Coin IPO details

Toss The Coin IPO is an entirely fresh issue of 5.04 lakh shares. The IPO price band has been set between ₹172 and ₹182 per share.

Investors can participate by bidding for a minimum of a single lot size of 600 shares and in multiples thereof. For retail investors, the minimum bidding amount is ₹1,09,200 per application for at least a single lot size.

On the other hand, high net-worth individuals (HNIs) will need to apply for a minimum of two lots, equating to 1,200 shares and an investment of ₹2,18,400.

The book-running lead manager overseeing the IPO is Beeline Capital Advisors Pvt Ltd, with Link Intime India Private Ltd acting as the registrar for the issue. The market maker for the IPO is Spread X Securities.

The company’s promoters are Narayanan Jayan, Reshma Budhia and Sudhanshu Budhia. Prior to the IPO, the promoters held an 80% stake in the company, which will be diluted to 58.67% post-issue.

Toss The Coin IPO dates

Toss The Coin IPO share allotment status is expected to be finalised on Friday, December 13. Following this, refunds for unsuccessful applicants will be initiated on December 16. The transfer of shares to the Demat accounts of successful applicants will also be done on the same day.

The IPO listing has been scheduled for December 17. Shares of the company will be listed on the BSE SME platform.

Toss The Coin IPO: Use of proceeds

Toss The Coin Limited plans to utilise the IPO funds for capital expenditure for the development of microservices applications and supporting costs associated with establishing new office spaces. Additionally, a portion of the funds will be directed toward meeting the company’s working capital needs. A portion of the proceeds will also be utilised for general corporate purposes.

About Toss The Coin Limited

Founded in 2020, Toss The Coin Limited is a marketing consultancy that delivers tailored marketing solutions to its clients. Specialising in services for B2B tech firms, the company has collaborated with various technology businesses, ranging from startups to established players, to develop their go-to-market (GTM) strategies. The company’s expertise spans a wide array of offerings, including brand strategy, content creation, design services, website development, social media initiatives, customer success management and design-thinking workshops for problem-solving, along with general consulting services.