C2C Advanced Systems IPO Day 1 Overview: Oversubscription and High GMP
The initial public offering (IPO) of C2C Advanced Systems, a leader in defence electronics solutions, has sparked strong investor interest, achieving 27.19x oversubscription on its opening day, November 22, 2024. According to NSE data, bids were received for 7,92,51,600 shares, compared to the 29,14,800 shares on offer.
Strong Grey Market Performance
The enthusiasm for C2C Advanced Systems IPO is also reflected in the grey market, where its unlisted shares are trading at a premium of ₹245 over the upper price band of ₹216. This represents a 108.41% premium, highlighting expectations of a stellar listing on the NSE SME platform.
Key Details of C2C Advanced Systems IPO
- IPO Size: ₹99.07 crore.
- Price Band: ₹214-₹216 per share.
- Lot Size: 600 shares (minimum investment: ₹1,35,600).
- Anchor Investor Round: Raised ₹28.23 crore before IPO launch.
IPO Proceeds Utilization
The funds raised from this IPO will be strategically deployed to:
- Enhance Operational Capabilities: Investments in hardware and software.
- Infrastructure Development: Upgrading the Bengaluru Experience Centre and establishing a new facility in Dubai.
- Training and Fit-Outs: A new Training Centre in Bengaluru and improvements in existing premises.
- Working Capital: Addressing operational needs and general corporate expenses.
IPO Timeline
- Subscription Period: November 22 to November 26, 2024.
- Allotment Finalization: November 27, 2024.
- Demat Credit: November 28, 2024.
- Listing Date: November 29, 2024, on NSE SME.
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Industry Leadership and Expertise
C2C Advanced Systems is a prominent player in India’s defence electronics sector, focusing on indigenous technology solutions for air and sea defence platforms.
The company’s expertise spans:
- Hardware, software, and firmware systems.
- Prototype design, testing, and validation.
- Advanced technologies supporting the entire defence lifecycle.
IPO Lead Managers
The IPO is being managed by Mark Corporate Advisors and Beeline Capital Advisors, with Link Intime India as the official registrar.
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