C2C Advanced Systems IPO Day 2: Check GMP, Subscription Status And More

C2C Advanced Systems IPO GMP (grey market premium) stood at Rs 245 as of 12:31 pm on November 25. The SME issue has already been booked over 70 times on Day 2 so far.

The C2C Advanced Systems Ltd.'s initial public offering (IPO) comprises a fresh issue of 43.84 lakh shares. 

C2C Advanced Systems IPO opened for subscription on Friday, November 22 and received a tremendous response from the investors as the SME issue was subscribed 27.19 times on Day 1 led by demand from retail investors and non-institutional buyers.

C2C Advanced Systems Ltd.'s initial public offering (IPO) comprises a fresh issue of 43.84 lakh shares and the company aims to raise Rs 99.07 crore through this IPO.

As the SME IPO enters Day 2, here are all the important details about the C2C Advanced Systems IPO for investors looking forward to participating in the bidding process.

C2C Advanced Systems IPO Day 2 Subscription Status

The IPO of C2C Advanced Systems has been subscribed 71.21 times as of 1:42 pm on Monday.

  • Qualified Institutions: 4.65 times

  • Non-Institutional Buyers: 73.88 times

  • Retail Investors: 108.09 times

The subscription status will be updated at regular intervals.

C2C Advanced Systems IPO Day 1 Subscription Status

The IPO of C2C Advanced Systems was subscribed 27.19 times on Friday.

  • Qualified Institutions: 0.53 times

  • Non-Institutional Buyers: 26.68 times

  • Retail Investors: 42:64 times

C2C Advanced Systems IPO GMP Today

C2C Advanced Systems IPO GMP (grey market premium) stood at Rs 245 as of 12:31 pm on November 25, according to the InvestorGain. This indicates a strong listing for the IPO shares at Rs 471 apiece (Rs 245 + Rs 226). Investors are likely to gain 108.41% per share at this GMP price.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

C2C Advanced Systems IPO Price Band and Lot Size

The C2C Advanced Systems IPO price band has been fixed at Rs 214 to Rs 226 per share. Retail investors can apply for the issue by bidding for a minimum of 600 shares in one lot, taking the minimum investment amount to Rs 1,35,600.

C2C Advanced Systems IPO Dates

The C2C Advanced Systems IPO will close for subscription on November 26. Allotting shares for the SME issue will be done on November 27. The shares will be credited to the demat accounts of successful bidders on November 28, while refunds will be initiated to non-allottees on the same day. Shares of C2C Advanced Systems will likely be listed on November 29 on NSE SME platform, Emerge.

Also Read: IPO Calendar: NTPC Green Energy To Debut, Enviro Infra Engineers And Seven SME Issues Active

C2C Advanced Systems Ltd. Business

C2C Advanced Systems Ltd is a provider of defence electronics solutions.. The company has design capabilities across the entire  spectrum of strategic defence solutions such as processors, radars and  embedded software and firmware.

The company is a provider of customised software and software enabled systems which control mission critical defence applications for military and security apparatus in India and globally.  The company generates revenue from the sale of proprietary technologies and services.

Use Of Proceeds

The company plans to use the money raised via the public issue for funding the purchase of fixed assets (both hardware and software) for its existing operations. The proceeds will also be used for creating fit-outs at the company’s premises at both Bengaluru and Dubai.

A portion of the proceeds will be used for paying the security deposit at the new premises of the company located in Bengaluru, Karnataka, India. The proceeds will also be used to fund working capital requirements and general corporate purposes.

Financials

C2C Advanced Systems Ltd. revenue stood at Rs 41.29 crore in FY24, a 412% year-on-year rise from Rs 8.06 crore in the previous fiscal. The company’s net profit also increased over 327% to Rs 12.27 crore in FY24 from Rs 2.87 crore in FY23.

In the September quarter of the current fiscal, the company's revenue stood at Rs 43.24 crore and net profit at Rs 9.72 crore.

Also Read: How To Check NTPC Green Energy IPO Allotment Status; Check Latest GMP

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.

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