Toss The Coin IPO Becomes 3rd SME IPO Of 2024 To Cross 1,000 Times Subscription; Check Others

The initial public sale of marketing consulting company Toss The Coin Ltd. became the third most subscribed SME IPO of 2024, achieving a subscription rate of over 1,000 times. The issue was booked over 1,025.76 times at the end of bidding on Thursday. 

A total of 34,40,39,400 bids were received for the 3,35,400 shares available, as per market tracking site Chittorgarh.

The stellar response to the offer was led by retail investors, who subscribed their allocation 1,550.76 times. 

Non-Institutional Investors (NIIs) followed with a subscription rate of 964.18 times, while Qualified Institutional Buyers (QIBs) also contributed significantly, with 147.69 times subscription. 

Toss The Coin Limited is set to list on the BSE SME platform on December 17. The IPO, a book-built issue, aims to raise Rs 9.17 crore through the sale of 5.04 lakh newly issued shares, priced within a range of Rs 172 to Rs 182 per share.

As Toss The Coin finished as the third most subscribed SME IPO of 2024, here's a look at the four other top-performing SME IPOs of the year, two of which were subscribed over 1,000 times:

The HOAC Foods India IPO holds the top spot as the most subscribed SME IPO of 2024, achieving a massive 2,013.64 times subscription. Retail investors led the charge with a subscription rate of 2,556.46 times, while NIIs subscribed 1,432.60 times. This entirely fresh issue of 11.55 lakh shares, priced at Rs 48 each, raised Rs 5.54 crore from the market. The IPO opened for bidding on May 16 and closed on May 21, with the stock debuting on NSE SME on May 24.

Kay Cee Energy & Infra Ltd.'s IPO was the second most subscribed SME issue of 2024, achieving an impressive 1,052.45 times subscription. The bidding period ran from December 28, 2023, to January 2, 2024, with shares priced between Rs 51 and Rs 54. Retail investors accounted for a subscription rate of 1,311 times, while NIIs subscribed 1,668.97 times and QIBs 127.71 times.

The stock made a remarkable market debut, listing at Rs 252 per share, a 366.67% premium over the issue price.

The Medicamen Organics IPO narrowly missed the 1,000-time mark, achieving a total subscription of 993.56 times. Retail investors subscribed to the IPO 1,309.77 times, while NIIs and QIBs followed with 1,343.83 times and 173.03 times, respectively. Medicamen Organics IPO, comprising 31 lakh fresh shares priced between Rs 32 and Rs 34, opened on June 21 and closed on June 25. It was listed on NSE SME on June 28.

Maxposure Ltd.’s IPO completes the list of top-performing SME IPOs with a subscription rate of 987.47 times. NIIs were the most active, with a subscription rate of 1,947.55 times, followed by retail investors at 1,034.23 times and QIBs at 162.35 times. The IPO, which opened for bidding on January 15 and closed on January 17, offered 61.4 lakh fresh shares priced between Rs 31 and Rs 33.