Toss The Coin has used Rs 4.30 crore of IPO proceeds by September 30

Toss The Coin Limited had used Rs 4.30 crore, or 46.9%, of its Rs 9.17 crore fresh initial public offering (IPO) proceeds by September 30, 2026, leaving Rs 4.86 crore unutilised. Of that balance, Rs 4.80 crore was temporarily held in interest-bearing fixed deposits with scheduled commercial banks.

How much of Toss The Coin's IPO money has been used?

Toss The Coin had deployed Rs 4.30 crore from its Rs 9.17 crore fresh IPO issue as of September 30, 2026. The company disclosed Rs 4.86 crore as unutilised, meaning 53.1% of the fresh-issue proceeds remained to be deployed at that date.

The IPO was completed during the financial year ended March 31, 2025, and Toss The Coin's equity shares were listed on the BSE SME Platform on December 17, 2024. The utilisation schedule identifies five objects for the fresh issue: microservices-application development, a new unit, working capital, general corporate purposes and issue expenses.

The reported Rs 4.30 crore utilised and Rs 4.86 crore unutilised total the Rs 9.17 crore raised in the fresh issue. Toss The Coin also said there had been no capital-structure changes after the IPO other than those forming part of the offer process.

Which Toss The Coin IPO projects remain to be funded?

Toss The Coin's new-unit project remained entirely unfunded from IPO proceeds as of September 30, 2026, with nil utilisation against its Rs 1.20 crore allocation. This was the only disclosed object with no reported use of funds.

The company had deployed Rs 1.96 crore on development of a microservices application from an allocation of Rs 2.94 crore. That left Rs 98.09 lakh for the capital-expenditure object, making the microservices application the largest spending category reported in the utilisation statement.

Working capital had received Rs 20 lakh from its Rs 2 crore allocation, leaving Rs 1.80 crore unutilised. That was the largest remaining allocation, ahead of Rs 1.20 crore for the new unit and Rs 98.09 lakh for the microservices application.

Toss The Coin had used Rs 1.28 crore for general corporate purposes from an allocation of Rs 2.17 crore, leaving Rs 88.85 lakh. It also reported full utilisation of the Rs 85 lakh earmarked for issue expenses, unlike the incomplete deployment across the three capital and operating-use categories.

Where is Toss The Coin holding its unspent IPO proceeds?

Toss The Coin said Rs 4.80 crore of its Rs 4.86 crore unutilised IPO balance was temporarily parked in interest-bearing fixed deposits with scheduled commercial banks as of September 30, 2026. The company said the deposits were pending deployment towards the respective IPO objects.

The fixed-deposit balance was Rs 6.94 lakh lower than the total reported unutilised amount of Rs 4.86 crore. The filing does not specify the form or location of that remaining Rs 6.94 lakh, nor does it provide an object-by-object reconciliation between the deposits and each undrawn allocation.

The September 30, 2026 cash-flow statement separately reported Rs 3 crore in bank deposit accounts, compared with Rs 3.60 crore at March 31, 2026. Toss The Coin did not directly reconcile that cash-flow line with the Rs 4.80 crore identified as fixed deposits holding unutilised IPO funds.

The cash-flow statement describes cash equivalents under Accounting Standard 3 as highly liquid investments with an acquisition maturity of three months or less. It also states that bank deposits with maturities above 12 months are excluded from that definition, so the reported cash-flow classification does not establish the maturity of the IPO-related deposits.

How did Toss The Coin account for issue costs and oversight?

Toss The Coin reported Rs 85 lakh of IPO-object utilisation for issue expenses, while it adjusted Rs 1.27 crore of eligible IPO expenses against its securities premium account. The board authorised the accounting adjustment at its May 30, 2025 meeting under Section 52 of the Companies Act, 2013.

The Rs 1.27 crore adjustment covered legal and professional charges, registrar and stock-exchange fees, printing and stationery, advertising and marketing expenses, and other directly attributable costs. The filing does not explain the relationship between that accounting adjustment and the Rs 85 lakh prospectus allocation for issue expenses.

Toss The Coin did not appoint a monitoring agency because its total public issue was below Rs 100 crore, according to the company. It said the monitoring-agency requirement under Regulation 32(1) of the Securities and Exchange Board of India Listing Obligations and Disclosure Requirements Regulations, 2015, therefore did not apply.

The utilisation disclosure accompanied results for the six months ended September 30, 2026, when Toss The Coin reported profit of Rs 35,000 and earnings per share of Rs 0.02. In the six months ended September 30, 2025, profit was Rs 1.43 crore and earnings per share were Rs 7.59, showing a lower reported profit in the latest half-year period.

Conclusion

The September 30, 2026 disclosure shows that Toss The Coin had deployed less than half of its Rs 9.17 crore fresh IPO proceeds. Spending was led by the Rs 1.96 crore used for the microservices application, while working capital had received Rs 20 lakh and the Rs 1.20 crore new-unit allocation remained unused. Most of the Rs 4.86 crore balance was in fixed deposits.

The next utilisation disclosure will show whether Toss The Coin begins deploying the Rs 1.80 crore working-capital allocation, the Rs 1.20 crore new-unit allocation and the Rs 98.09 lakh remaining for the microservices application. The company said the Rs 4.80 crore fixed-deposit balance was temporary pending deployment, but it disclosed no date-specific completion target for those objects.