ENA MSME 2024-12-17 17:03:20 <p><span style="font-size:14px"><strong>Chennai, Dec 17 (KNN)</strong> Chennai-based marketing consulting firm Toss The Coin made a stellar debut on the BSE SME platform on Tuesday, marking a significant milestone in its corporate journey.</span></p> <p><span style="font-size:14px">The company's shares were listed at Rs 345.80, representing an impressive 90 percent premium over its initial public offering (IPO) issue price of Rs 182.</span></p> <p><span style="font-size:14px">Even before the market opening, the company's shares generated considerable excitement in the grey market. Pre-listing trading indicated a premium of Rs 214, suggesting a potential listing price of Rs 398 per share&mdash;a remarkable 117.58 percent increase from the IPO's upper price band.</span></p> <p><span style="font-size:14px">The initial public offering, which raised Rs 9.17 crore through a fresh issue, was open for subscription from December 10 to December 12.</span></p> <p><span style="font-size:14px">The price band was strategically set between Rs 172 and Rs 182 per share, with a minimum lot size of 600 shares. Prior to the IPO's public launch, the BSE SME issue secured Rs 2.60 crore from anchor investors.</span></p> <p><span style="font-size:14px">The IPO's subscription numbers were extraordinary, with the issue attracting an unprecedented 1025.76 times oversubscription on its final bidding day.</span></p> <p><span style="font-size:14px">Breaking down the investor landscape reveals the remarkable interest across different investor categories: retail investors led the charge with a staggering 1550.76 times subscription, followed by non-institutional investors at 964.18 times, and qualified institutional buyers at 147.69 times their reserved portion.</span></p> <p><span style="font-size:14px">The company intends to utilise the raised funds to enhance and expand its marketing consulting services, specifically targeting B2B technology clients.</span></p> <p><span style="font-size:14px">This strategic approach appears to have resonated strongly with investors, as evidenced by the overwhelming response to its public offering.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40290 https://knnindia.co.in/news/newsdetails/msme/toss-the-coin-makes-stellar-debut-on-bse-sme-shares-surge-90-pc-above-ipo-price 2024-12-17 17:03:20 knnindia.co.in