Reshma Budhia and Jayan Narayanan, the CEO and Managing Director of Toss the Coin (TTC), were joking about their marketing consultancy being so successful that it would make money even while they slept. To their surprise, this joke became a reality.
During the period of December 10 to 12, 2024, while Reshma was in the US for client meetings, TTC’s ₹9.17-crore IPO was launched with great success. It was oversubscribed 1,025 times, making it the third most subscribed IPO on the BSE SME platform. On December 17, it was listed on the BSE at ₹345, well above the issue price of ₹182, and is currently trading at around ₹380. “It was surreal,” Reshma remarked.
TTC, founded in 2012 as a partnership focusing on B2B tech consultancy for marketing strategy, has evolved to offer services in strategy and consulting, branding, content development, and digital campaigns. Reshma highlighted their approach of using design thinking to deconstruct buyer personas and create relevant content for sales cycles.
With a revenue of ₹4.8 crore in FY 23-24, TTC plans to use the funds raised through the IPO to scale up its operations. They anticipate reaching a revenue of around $1 million (₹8.74 crore) in FY25. The company aims to hire skilled individuals from the IT industry, expand to new locations outside Chennai, and strengthen their presence in the US market.
The journey of TTC began when Jayan left his corporate marketing job out of boredom and started taking up freelance work. Reshma, who was involved in content writing, joined him in early 2013. The company name, Toss the Coin, was chosen by Jayan for its recall value. Their business initially grew through word-of-mouth references.
Over the years, TTC’s client list expanded to include prominent names such as iBUS Global, 3i Infotech, Brakes India, and L&T Valves, among others. Their unique approach to projects, described as artisan-like by clients, has garnered praise for their patience, creativity, and attention to detail.
Looking ahead, TTC is developing a series of apps called Mervous to enhance marketing efforts in organizations. Reshma expressed confidence in their capabilities, noting that their style of humility and excellence has helped them secure contracts over top marketers overseas. With the IPO platform, they aim to further establish themselves as leaders in B2B tech marketing.
The journey of TTC from a partnership to a private limited company and now a public listed company serves as a testament to their dedication and vision in the marketing consultancy industry.
