Introduction to Toss the Coin Limited: Toss the Coin Limited is a dynamic marketing consulting firm offering custom-made marketing services to businesses. Known for helping companies accelerate their growth, they implement creative, responsible, and sustainable marketing operations. The company aims to build tailored go-to-market strategies that resonate with individual customer needs, offering modern solutions to brand challenges.

Toss the Coin IPO Overview: The Toss the Coin IPO, a book-built issue for ₹9.17 crores, consists entirely of a fresh issue of 5.04 lakh shares. The IPO opens on December 10, 2024, and closes on December 12, 2024. The price band for the shares is set at ₹172 to ₹182 per equity share, and the market capitalization at the upper price band is ₹34.39 crores.

IPO Details:

• Lot Size: 600 shares.
• Retail Investors: A minimum investment of ₹1,09,200 is required.
• HNIs (High-Net-Worth Individuals): Minimum investment of ₹2,18,400 (2 lots).
• IPO GMP: The Grey Market Premium (GMP) of ₹80, indicating a potential listing gain of 43.71%.

Important Dates:

• Subscription Period: December 10–12, 2024
• Allotment Date: December 13, 2024
• Listing Date: December 17, 2024
• Anchor Investors: Raised ₹2.60 crores, allocating 1,42,800 equity shares at ₹182 each.

Subscription Status and GMP: As of December 12, 2024, the IPO has subscribed 439.89 times on its final day of the subscription period. The GMP trend shows an increase in expected listing gains:

• December 10, 2024: ₹80 (43.71% listing gain)
• December 9, 2024: ₹50 (27.74% listing gain)

This rising demand shows investor interest and suggests that the IPO may see strong listing gains upon its debut on the BSE SME.

Financial Performance: For the fiscal years 2022, 2023, and 2024, Toss the Coin has shown promising growth:

• Revenue from Operations: ₹495.53 lakhs (FY24), ₹483.48 lakhs (FY23), ₹299.85 lakhs (FY22)
• EBITDA: ₹154.15 lakhs (FY24), ₹245.12 lakhs (FY23), ₹144.69 lakhs (FY22)
• Profit After Tax (PAT): ₹109.85 lakhs (FY24), ₹178.29 lakhs (FY23), ₹104.98 lakhs (FY22)

These figures highlight a consistent growth trajectory, with a profitability increase in FY24, making the IPO an attractive proposition for potential investors.

Valuation and Price Metrics: Toss the Coin’s pre-issue EPS stands at ₹7.93, and post-issue EPS is projected at ₹5.81. The pre-issue P/E ratio is 22.95x, and the post-issue P/E ratio is 31.31x, which is fairly priced relative to industry peers. The company’s ROCE (Return on Capital Employed) for FY24 is 34.32%, and ROE (Return on Equity) is 27.22%, showcasing healthy financial returns.

How to Check Allotment Status: The Toss the Coin IPO allotment is scheduled for December 13, 2024. To check the status:

1. Visit the registrar's website (Link Intime India Pvt Ltd).
2. Select the Toss the Coin IPO from the dropdown list.
3. Enter your application number or PAN details.
4. Submit to check the status.

Objective of the IPO Proceeds: The fresh issue proceeds will be used for several growth initiatives:

1. Microservices Development: ₹294.73 lakhs for funding capital expenditure.
2. Office Expansion: ₹120.00 lakhs for opening new offices.
3. Working Capital: ₹200.00 lakhs for enhancing working capital.
4. General Corporate Purpose: General funding for company growth.

IPO Review and Investment Recommendation: Given the financial strength of Toss the Coin and healthy growth indicators, the GMP of ₹80, and the potential for listing gains, this IPO appears attractive for retail investors looking for short-term gains. The company’s expertise in customized marketing services and experienced leadership make it a promising growth stock in the marketing consulting space.

Conclusion: Toss the Coin’s IPO is priced fairly, with a solid growth trajectory and a strong market demand reflected in the GMP. Investors looking for quick listing gains and those with a long-term perspective on the marketing sector may find this IPO appealing. Apply for listing gains while keeping an eye on the allotment status and the listing date.