Statemen of Deviation or Variation in utilization of funds raised through Initial Public Offer (IPO) by the Company, for the half year ended 30th September 2025
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Toss The Coin Limited has filed a statement on how it used the money raised through its IPO in December 2024. The company raised Rs. 917.28 Lakh in total, of which Rs. 85 Lakh went toward IPO expenses. Out of the remaining Rs. 832.28 Lakh, only Rs. 220.55 Lakh (about 24%) has been used so far. The company spent Rs. 108.49 Lakh on developing a Microservices Application but has not yet spent anything on opening new offices (Rs. 120 Lakh allocated) or working capital needs (Rs. 200 Lakh allocated). The company confirms there is no deviation from the originally stated plan.
Shareholders should note the slow deployment of IPO proceeds — nearly a year after listing, only around a quarter of the raised funds have been put to use, with major allocations like office expansion and working capital untouched. While the company reports no deviation, the pace of utilization may raise questions about execution and growth plans.