Toss The Coin IPO to open on December 10 – Check Details

Toss The Coin IPO

Toss The Coin SME IPO: Comprehensive Details of the Upcoming Public Offering Opening on December 10, 2024

The IPO market is buzzing with activity, and one of the latest additions to the list of companies making their debut on the stock exchanges is Toss The Coin Limited, a Chennai-based marketing consulting firm.

The company’s SME IPO is scheduled to open for subscription on December 10, 2024, and it promises to be an exciting opportunity for investors.

The IPO is priced in the range of Rs 172 to Rs 182 per share, with the company aiming to raise Rs 9.17 crore through the offering. Investors have a window to subscribe to the issue until December 12, 2024, with the shares expected to start trading on the BSE SME platform from December 17, 2024.

Toss The Coin IPO: Key Offer Details

Issue Type: This will be a fresh issue of 5.04 lakh equity shares, with no Offer for Sale (OFS). This is a significant point for investors to consider because all the proceeds from the issue will be directed to the company rather than to existing shareholders or promoters.

The absence of OFS makes the issue more favorable for investors, as the company will have the flexibility to utilize the funds raised for expansion and growth.

Price Band: The price band for the IPO has been fixed between Rs 172 and Rs 182 per share. This price range is considered competitive for an SME company and is designed to attract a wide range of retail and institutional investors looking for growth opportunities in the fast-expanding digital marketing and consulting space.

Subscription Period: The public issue will be open for subscription from December 10 to December 12, 2024. Investors will need to submit their applications within this window to participate in the offering.

Shares Allocation:

• Qualified Institutional Buyers (QIBs): 50% of the issue (excluding the market maker’s portion) is reserved for qualified institutional buyers. This category includes large institutional investors such as mutual funds, insurance companies, and banks.
• Retail Investors: 35% of the issue will be allocated for retail investors, making it accessible for small investors to apply for the IPO. This allocation is designed to provide ample opportunity for individual investors to get involved.
• Non-Institutional Investors (NIIs): 15% of the issue will be available for non-institutional investors, such as high-net-worth individuals (HNIs), private equity firms, and other large investors who typically invest larger amounts compared to retail investors.

Minimum Investment: Retail investors can bid for a minimum of 600 equity shares, which would cost them a minimum investment of Rs 1,09,200 at the upper price band of Rs 182 per share.

This amount is manageable for most retail investors, making the issue an attractive proposition for those looking to invest in the SME sector.

Listing and Trading: The shares of Toss The Coin are expected to list and start trading on the BSE SME platform from December 17, 2024.

Being a part of the SME segment on the BSE provides a robust platform for the company’s shares to gain liquidity and visibility in the stock market.

The BSE SME platform has gained traction in recent years due to its ability to facilitate smoother and more cost-effective listings for smaller companies, helping them raise capital and gain exposure to a larger pool of investors.

Company Overview: Toss The Coin Limited

Founded and headquartered in Chennai, Toss The Coin Limited is a marketing consulting firm that specializes in providing tailored, technology-driven marketing services to businesses.

The company focuses primarily on working with B2B (business-to-business) technology companies, helping them optimize their marketing strategies and increase their market presence.

Toss The Coin offers a range of services, including digital marketing, brand consulting, content creation, and data analytics, designed to help businesses enhance their customer acquisition strategies and improve overall marketing performance.

The company’s expertise lies in customizing marketing strategies to meet the unique needs of its clients, particularly those in the technology sector.

This market niche has been growing rapidly as companies increasingly rely on digital marketing to reach potential clients in a more targeted and efficient way.

In addition to its core services, Toss The Coin has developed a reputation for staying ahead of the curve in the ever-evolving digital marketing landscape.

The company utilizes cutting-edge tools and technology to ensure that its clients’ marketing campaigns are data-driven, measurable, and scalable.

Utilization of Funds: Strategic Expansion Plans

The funds raised from the IPO will be utilized for various key purposes aimed at further strengthening Toss The Coin’s business operations and expanding its reach:

• Development of Microservice Applications: A significant portion of the proceeds will be allocated to the development of microservice applications. These applications are designed to streamline business processes, increase operational efficiency, and enable better client engagement. With the increasing demand for scalable and efficient software solutions, this investment will position Toss The Coin well in the competitive market.
• Expansion Plans: The company plans to use a part of the IPO funds to establish new offices in strategic locations. This will help expand its geographical reach and tap into new markets, enabling Toss The Coin to cater to a wider client base across the country.
• Working Capital Requirements: A portion of the funds will be used to meet the company’s working capital needs. This will help Toss The Coin maintain its operational flexibility, ensuring that it can efficiently manage day-to-day business activities, including managing cash flows, inventory, and operational costs.
• General Corporate Purposes: The remaining funds will be allocated for general corporate purposes, which may include strengthening the company’s infrastructure, enhancing employee skills, and investing in business development activities.

The Growing Trend of SME IPOs in India

The Indian IPO market has seen a significant uptick in recent years, particularly in the SME (Small and Medium Enterprises) segment.

The number of companies seeking to raise funds via SME IPOs has surged, driven by the ease of listing, tax benefits, and the access to capital that these companies can use for growth.

Toss The Coin’s IPO is the sixth SME IPO to launch in December 2024, joining a growing list of companies that are tapping the capital markets for funds to scale their businesses.

Other notable companies that have gone public in the SME segment this month include Purple United Sales, Jungle Camps India, Dhanalakshmi Crop Science, Emerald Tire Manufacturers, and Nisus Finance Services.

This surge in SME IPOs reflects growing investor interest in smaller, yet high-potential companies, particularly in sectors like technology, consulting, and services.

Issue Manager: Beeline Capital Advisors

Beeline Capital Advisors is acting as the merchant banker for this IPO. As the issue manager, Beeline Capital Advisors will be responsible for managing the IPO process, ensuring compliance with regulatory requirements, and guiding the company through the necessary procedures to bring its shares to market.

The firm has a solid track record of handling SME IPOs, providing invaluable expertise to companies seeking to go public.

Final Remarks

The Toss The Coin SME IPO offers a promising investment opportunity for those looking to diversify their portfolio with shares of a growing marketing consulting company.

With its competitive pricing, robust business model, and clear plans for using the raised funds, Toss The Coin is well-positioned to capitalize on the growing demand for digital marketing services, particularly among B2B tech companies.

Investors looking for exposure to the SME sector may find this IPO attractive, especially with the added benefit of listing on the BSE SME platform, which offers enhanced liquidity and visibility for small companies.

However, as with any investment, it is crucial to conduct thorough due diligence and consider the risks associated with investing in smaller, high-growth companies.

Toss The Coin’s IPO could be a solid addition to the growing roster of companies in the Indian SME space, and its performance will likely provide valuable insights into the future growth of digital marketing and consulting services in India.