Toss the Coin IPO Shares Surge with 5% Upper Circuit, Listing at 90% Premium

Team Finance Saathi

    17/Dec/2024

What's Covered Under the Article:

  1. Toss the Coin shares hit 5% upper circuit after listing, offering investors substantial gains.
  2. IPO listing price of ₹345.8 per share, providing significant returns for IPO investors.
  3. The company, offering marketing consultancy, shows strong financial performance and growth prospects.

Toss the Coin, a marketing consultancy company, has made a notable debut on the stock market with its IPO shares hitting a 5% upper circuit on listing. The shares were listed at a 90% premium to the issue price of ₹182, at ₹345.8 each, resulting in impressive gains for investors. The company's growth trajectory, driven by its custom-made marketing services, resonated well with investors, contributing to its strong market debut.

The IPO, which was a Book Built Issue amounting to ₹9.17 Crores, offered 5.04 lakh shares and saw strong subscription activity. The retail investors who were allotted a single lot of 600 shares, priced at ₹182 per share, made a gain of ₹98,280 from the minimum investment of ₹1,09,200 per lot. This substantial return reflects the strong market reception of Toss the Coin's business model, which focuses on growth acceleration for clients through creative, responsible, and sustainable marketing strategies.

Key Financials and Performance: Toss the Coin reported impressive revenue of ₹495.53 Lakhs for FY24, with an EBITDA of ₹154.15 Lakhs, reflecting consistent growth over the past few years. With an EPS of ₹7.93 pre-issue and ₹5.81 post-issue, the company’s P/E ratio of 22.95x pre-issue and 31.31x post-issue indicate that the IPO is fairly priced, and the financial performance adds credibility to its growth prospects.

The IPO's Grey Market Premium (GMP), which reflects the price at which shares were trading in the unofficial market before listing, stood at ₹110, indicating a 60.43% potential listing gain. This strong GMP trend encouraged investor confidence and contributed to the IPO’s successful listing.

Toss the Coin has allocated the funds raised from the IPO towards strategic initiatives, including capital expenditure for the development of Microservices Applications and the expansion of its office spaces. These investments are expected to strengthen its operations and enable the company to better serve its growing client base.

Market Trends and Future Outlook: Looking forward, the marketing consultancy industry is set to experience growth as businesses increasingly seek innovative strategies for reaching their customers. Toss the Coin, with its tailored go-to-market strategies, is well-positioned to capitalize on these trends. The company's leadership team, with over 70 years of combined industry experience, provides strong vision and strategic direction, further strengthening investor confidence.

Toss the Coin’s real estate strategy, including its entry into the Tier-II and Tier-III markets, along with its focus on smart and sustainable homes, will further contribute to the company’s overall expansion.

The Upcoming IPOs in this week and coming weeks are Identical Brain StudiosTransrail LightingMamata MachineryDAM Capital  Sanathan TextilesConcord EnviroNewmalayan SteelVentive HospitalitySenores PharmaceuticalsCarraro IndiaSolar91 CleantechUnimech AerospaceRosmerta DigitalIndo Farm, and Avanse FinancialThe Current active IPO is NACDAC InfrastructureInternational Gemmological and Hamps Bio.

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