The Toss The Coin IPO has become the talk of the town, pulling in a mind-boggling 1,025 times subscription by 12 December 2024. This isn’t just impressive – it’s a signal of strong investor confidence, especially when you consider the company’s roots and the market it’s targeting.
A Look at the Toss The Coin IPO’s Unprecedented Subscription Rate
Toss The Coin has shattered expectations with its IPO. By the last day of its offering, the subscription rate hit 1,025 times, highlighting an incredible level of interest in the firm’s growth prospects. In particular, retail investors have led the charge, eager to grab a piece of the action from this relatively young but ambitious company.
Founded in 2020, Toss The Coin is carving a niche for itself by providing tailored marketing strategies for B2B technology companies. The firm has quickly built a reputation for delivering cost-effective, high-quality solutions that help businesses enhance their brand visibility. Toss The Coin’s impressive financial performance in recent years reflects this growing success, with revenues soaring from INR 2.97 crore in FY 2022 to INR 4.86 crore in FY 2024. Now, the company plans to use the funds raised from its IPO to expand its office infrastructure, develop microservices applications, and bolster working capital.
Toss The Coin IPO Subscription Blows Past 200 Times on Day Two
When the Toss The Coin IPO opened on 10 December 2024, no one expected it to be anything less than a hot commodity. But by the end of day two, the issue had been oversubscribed by a staggering 200 times. This level of demand isn’t just noteworthy – it’s a testament to how much faith investors have in the company’s future.
The IPO has a total issue size of INR 9.17 crore, with a price band set between INR 172 to 182 per share. But what stands out is the retail participation. Retail investors have subscribed a jaw-dropping 628 times their allocated portion, while non-institutional investors have backed the offering 255 times. The level of enthusiasm is a clear indication of how much retail investors, in particular, believe in Toss The Coin’s business model.
Grey Market Premium Suggests Big Listing Gains
Investors aren’t just interested in the IPO subscription – they’re also eyeing the grey market with excitement. As of 11 December 2024, the grey market premium (GMP) for Toss The Coin’s IPO was sitting at INR 195. This indicates that the market expects the company to have a strong debut on the stock exchange when it begins trading on 17 December 2024. The GMP is often seen as a barometer of the anticipated listing gains, and this number suggests investors are expecting a decent pop when the stock hits the market.
Conclusion:
In conclusion, the Toss The Coin IPO has far exceeded expectations, with an eye-popping 1,025 times subscription rate. This level of demand shows just how much investors believe in the company’s potential and its growth trajectory. From the subscription figures to the healthy grey market premium, all signs point to a successful listing and continued expansion for the Chennai-based marketing firm. As the company continues to grow, the Toss The Coin IPO could very well mark the start of something much bigger.
As of November 2024, the Indian primary market has seen a total of 230 SME IPOs. Out of these 207 SME listings have also performed well. However, there were challenges as well, with 23 SME IPOs experiencing negative returns. Notably, the average listing day return stands at a remarkable 59.81% for SME IPOs, underscoring the potential for significant gains in this dynamic market. For more information related to IPO GMP, SEBI IPO Approval, Live Subscription, stay tuned to IPO Central.
