C2C Advanced Systems IPO Allotment Finally Out; Check Status And Latest GMP
Investors who bid for the C2C Advanced Systems SME issue can verify their allotment status on Link Intime website by following the steps provided below.
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The allotment for C2C Advanced Systems IPO was finalised on Monday, December 3. The IPO allotment and listing, originally scheduled for November 27 and 29 respectively, had been delayed multiple times after a directive from the Securities and Exchange Board of India asked C2C Advanced Systems to appoint an independent auditor and file an independent report on its financials.
Additionally, the regulator asked the National Stock Exchange (NSE) to set up a monitoring agency to oversee the utilisation of funds raised through the IPO.
The SEBI action led to a massive withdrawal of applications, with over 3.72 lakh applications withdrawn. Retail investors accounted for the bulk of the exits, with 3.57 lakh applications.
According to the latest update on the NSE website, the withdrawal window was extended by a day to Friday, which delayed the allotment of shares.
"As informed by SEBI, it has been decided to extend the withdrawal window option for SME IPO of C2C Advanced Systems Limited by 1 day for all Members/ Banks who have received withdrawal applications till November 28, 2024, by 5.00 PM. Accordingly, Members/Banks may upload their withdrawal application on November 29, 2024, between 10.00 AM to 5.00 PM on the exchange e-IPO system," as per the notice on the NSE website.
As per the data on the National Stock Exchange as of 5 p.m. on November 29, an additional 94,153 applications were withdrawn for 9,75,80,400 shares.
Despite the SEBI action and bulk withdrawal of applications, C2C Advanced Systems grey market premium (GMP) climbed to more than 86%.
The tentative date of the C2C Advanced Systems IPO listing is Tuesday, December 3 with the shares of the company listing on NSE Emerge.
Investors who did not withdraw their application can check the share allotment on the NSE and IPO registrar websites by following the step-by-step guide provided below.
Link Intime India is the registrar for the issue.
Steps To Check C2C Advanced Systems IPO Share Allotment Status On NSE
Visit the IPO allotment 'status check' page of the NSE here.
Log in with your username and password. (You need to create an account on the NSE to view IPO allotment status)
Select 'C2C Advanced Systems Limited' from the dropdown menu.
Verify PAN details.
Enter the application number for the IPO.
Click submit to check the allotment details.
Steps To Check C2C Advanced Systems IPO Allotment Status On Link Intime India
Visit the IPO allotment page on Link Intime India here.
From the dropdown menu, select 'C2C Advanced Systems Ltd.' from the list of companies.
Choose from PAN, Application Number, DP/Client ID or Account Number/IFSC to view your allotment status.
Enter the required details based on your selection.
Click the 'Submit' button to check the allotment status.
C2C Advanced Systems IPO GMP Today
C2C Advanced Systems IPO GMP (grey market premium) was Rs 195 per share as of 10:58 a.m. on December 2, indicating a strong listing over the upper limit of the price band. The GMP suggests a listing price of Rs 421 per share compared to the IPO price of Rs 226 per share, as per the InvestorGain website.
The GMP of C2C Advanced Systems IPO remained steady at Rs 245 per share but saw a sharp fall to Rs 120 after the SEBI action. But after the conclusion of the bidding process, the GMP has now increased again indicating a listing gain of 86.28%.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
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.
