The initial public offering (IPO) of Toss The Coin, a marketing consulting company, garnered significant attention though its public issue. The BSE SME IPO which opened for subscription on December 10 and ended on December 12, achieved an overwhelming demand and subscription rate.
Here’s a look at the key details of the offer, GMP, listing and other key details:
GMP
As the market awaits the debut of Toss The Coin on the BSE SME platform, the grey market premium (GMP) of the IPO is currently trading at Rs 214, potentially highlighting a 117.58 per cent premium over its issue price.
Listing
The Toss The Coin IPO is set to make its debut on the BSE SME platform on Tuesday, December 17.
Breakdown of the issue
Toss The Coin’s IPO is a fresh issue worth Rs 9.17 crore, entirely offering new shares to the market.
Through this public issue, the company aims to raise funds to expand its marketing consulting services for B2B technology companies. The price band for the offer was set between Rs 172 and Rs 182 per share, with the minimum lot size of 600 shares.
Despite being a relatively new player in the market, Toss The Coin IPO managed to get significant demand. On the final day of subscription or Day 3, the offer was subscribed by an eye-popping 1025.76 times.
The biggest demand came from Non-Institutional Investors (NIIs), who subscribed 964.18 times their allotted portion. Similarly, Retail investors equally followed the suit, with their segment closing at 1550.76 times the allocation.
Moreover Qualified Institutional Buyers (QIBs) also showed a considerable interest, with a subscription of 147.69 times their reserved portion.
Anchor Investors
Prior to the Toss The Coin IPO opening, the company managed to raise Rs 2.60 crore from anchor investors in December.
Lead manager and registrars
The IPO process was managed by Beeline Capital Advisors, who acted as the book running lead manager. Link Intime India served as the registrar for the issue. Spread X Securities was appointed as the market maker for the IPO, responsible for ensuring liquidity post-listing.
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