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C2C Advanced Systems IPO: Unlisted shares of C2C Advanced Systems Ltd are currently trading at Rs 426 per share in the grey market, which is Rs 200 or 88.5 per cent higher than the IPO issue price of Rs 226.
C2C Advanced Systems IPO.
As the C2C Advanced Systems IPO allotment has been finalised, the defence electronics solutions provider is set to be listed on the NSE SME on Tuesday, December 3. The latest GMP stands at 88.5 per cent, which indicates a whopping listing gain for investors on Tuesday.
The IPO was available for subscription between November 22 and November 26. It received an overall 125.35 times subscription getting bids for 36,53,80,800 shares against the 29,14,800 shares on offer.
The portion for qualified institutional buyers fetched 31.61 times subscription, while the category for non-institutional investors got subscribed 233.13 times. The retail individual investors part attracted 132.73 times subscription.
The C2C Advanced Systems IPO allotment has been finalised. Now, the IPO is set to hit the stock exchanges for listing on the NSE SME on Tuesday, December 3.
C2C Advanced Systems IPO Allotment Status
The IPO allotment status can be checked online by following these steps:
1) Visit Link Intime’s official website via the URL —https://www.linkintime.co.in/Initial_Offer/public-issues.html.
2) Under ‘Select Company’, select ‘C2C Advanced Systems Limited – SME IPO’.
3) Enter your PAN, application number, DP/ Client ID, or Account Number & IFSC code.
5) Then, click on ‘Submit’.
Your share application status will appear on your screen.
C2C Advanced Systems IPO GMP Today
According to market observers, unlisted shares of C2C Advanced Systems Ltd are currently trading at Rs 426 per share in the grey market, which is Rs 200 or 88.5 per cent higher than the IPO issue price of Rs 226. The 88.5% GMP indicates an overwhelming listing gain.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
C2C Advanced Systems IPO Listing Was Postponed
Though the C2C Advanced Systems IPO listing was originally scheduled to take place on the NSE SME on November 29, the listing was postponed after markets regulator Sebi has asked the company to appoint an independent auditor. It said that the listing could take place after the auditor submits its report to NSE or SEBI. The markets regulator Sebi has also asked the company to have a monitoring agency set up on usage of funds post listing.
After the postponement, subscribers were also given an option to withdraw their applications.
C2C Advanced Systems IPO: More Details
The C2C Advanced Systems IPO is entirely a fresh issue of 43.84 lakh shares. The price band of the C2C Advanced Systems IPO was fixed at Rs 214 to Rs 226 per share.
The minimum lot size for an application was 600 shares. The minimum amount of investment required by retail investors was Rs 135,600. The minimum lot size investment for HNI was 2 lots (1,200 shares) amounting to Rs 271,200.
Mark Corporate Advisors Private Limited and Beeline Capital Advisors Pvt Ltd are the book running lead managers of the C2C Advanced Systems IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for C2C Advanced Systems IPO is Spread X Securities.
The company’s revenue increased by 412 per cent and profit after tax (PAT) rose by 327 per cent between the financial year ending with March 31, 2024 and March 31, 2023.
