C2C Advanced Systems IPO GMP Rises Nearly To 110% Ahead Of Friday Launch

The Initial Public Offering (IPO) of C2C Advanced Systems, a defence electronics solutions provider will open for subscription tomorrow.

C2C Advanced Systems IPO is a book-built issue of Rs 99.07 crore and is entirely a fresh issue of 43.84 lakh shares.

Ahead of its launch on Friday, the GMP of C2C Advanced Systems IPO indicated a strong listing as it zoomed past 100%.

The grey market premium (GMP) of C2C Advanced Systems IPO was Rs 245 as of 12:23 p.m. on November 21, 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 471 per share which implied a listing gain of 108.41%.

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

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 and shares of the company are likely to be listed on the NSE SME platform Emerge on November 29.

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.

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.