The Toss The Coin IPO opened on Tuesday (December 10). The BSE SME issue saw an immensely strong subscription rate on its first day of bidding itself. Within just a few hours, the public issue was fully subscribed, and the demand for shares is continuing to surge.
Here is everything you need to know about this IPO and its current subscription status:
Subscription Status: Day 1
The Toss The Coin IPO has been subscribed 38.71 times overall as of 12:44 PM IST.
The retail category is leading the charge, with a subscription rate of 67.04 times. In this category, the investors have bid for 1,12,62,600 shares, far exceeding the 1,68,000 shares on offer
Meanwhile on the other hand, the subscription from qualified institutional buyers (QIBs) remains significantly lower at 0.01 times, with just 1,200 shares bid for 95,400 shares offered.
Non-institutional investors (NIIs) have shown moderate interest with 23.90 times subscription, bidding for 17,20,800 shares out of the 72,000 available.
GMP Status
The grey market premium (GMP) for the Toss The Coin IPO is another indicator of investor excitement. As of 13:05 PM IST on December 10, the GMP stood at Rs 200, highlighting a potential listing gain of around 109.9 per cent over the issue price, as per the recent trends. This also points out investors who secure shares in the IPO may see a listing price of approximately Rs 382 per share, which is considerably higher than the upper end of the IPO price band.
Allotment status
The finalisation of share allotment of Toss The Coin IPO is scheduled for December 13, with the credit of shares into demat accounts set to occur on December 16.
Listing
The shares of the company are expected to be listed on the BSE SME platform on December 17.
Registrar and book leading managers
Link Intime India is serving as the registrar for the Toss The Coin IPO, while Beeline Capital Advisors is acting as the book-running lead manager. Spread X Securities will be the market maker for the issue.