C2C Advanced Systems IPO's GMP Indicates 2X Listing Gains Ahead Of Nov. 22 Opening
Ahead of its launch, the GMP of C2C Advanced Systems IPO indicated a listing gain of 99.56% on the upper end of the price band.
C2C Advanced Systems IPO is set to open for subscription on November 22. The defence electronics solutions provider aims to raise Rs 99.07 crore via its initial public offering.
Ahead of the launch, the C2C Advanced Systems SME IPO GMP indicated a listing gain of 99.56% on the upper end of the price band.
C2C Advanced Systems IPO GMP (grey market premium) was quoted as Rs 225 per share at 11:54 a.m. on November 19, as per InvestorGain, indicating a strong listing over the upper limit of the price band if the current trends hold up. The latest GMP indicates a listing price of Rs 451 per share.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation
Investors must know that the GMP of an IPO is not the official stock price and is subject to rapid changes. It only indicates the anticipated listing price of a stock.
The C2C Advanced Systems IPO will be available for subscription from November 22 to November 26. The IPO share allotment status is expected to be finalised on November 27.
Shares of C2C Advanced Systems Ltd. are likely to be listed on the NSE SME platform Emerge on November 29.
C2C Advanced Systems IPO Price Band and Offer Size
C2C Advanced Systems IPO price band has been set at Rs 214 to Rs 226 per share.
Retail investors can apply for a minimum of a single lot comprising 600 shares. The minimum investment for retail individual investors is Rs 1,35,600.
The NSE SME issue comprises an entirely fresh issuance of 43.84 lakh shares.
Link Intime India Pvt. Ltd. is the registrar for the offer. On the other hand, Mark Corporate Advisors Pvt. Ltd. and Beeline Capital Advisors Pvt. Ltd. are the book-running lead managers of the IPO.
Use of Proceeds
C2C Advanced Systems will use the proceeds from the IPO to fund the capital expenditure towards the purchase of fixed assets (both hardware and software) for its existing operations. The proceeds will also be utilised for fit-outs at its new premises in Bengaluru and Dubai, as well as security deposit payments there. Rest of the proceeds will be used for funding working capital requirements and general corporate purposes.
About C2C Advanced Systems Ltd.
C2C Advanced Systems Ltd., is a vertically integrated defence electronics solutions provider catering to the indigenously developed defence products industry in India. Formerly known as C2C – DB Systems Private Limited, the company was incorporated in 2018.
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.
