C2C Advanced Systems IPO: The unlisted shares of C2C Advanced Systems Ltd are currently trading at Rs 426 per share in the gray market, up by Rs 200 or 88.5% from the ongoing IPO price of Rs 226.
C2C Advanced Systems IPO.
As the C2C Advanced Systems IPO allotment is finalised, the defense electronics solutions provider is set to list on the NSE SME on Tuesday, December 3. The latest GMP stands at 88.5 percent, indicating a strong gain in listings for investors on Tuesday. .
The IPO was available for subscription between November 22 and November 26. It fetched a total of 125.35 times subscription with bids of 36,53,80,800 shares against 29,14,800 shares on offer.
The Eligible Institutional Buyers segment was oversubscribed 31.61 times, compared to 233.13 times subscribed for non-institutional investors. The retail individual investors segment received 132.73 times subscription.
C2C Advanced Systems IPO allotment finalized. Now, the IPO is all set to hit the stock exchange for listing on NSE SME on Tuesday, December 3.
C2C Advanced Systems IPO Allotment Status
IPO allotment status can be checked online by following these steps:
1) Go to official website of Link In Time by URL.https://www.linkintime.co.in/Initial_Offer/public-issues.html.
2) Under ‘Select Company’, select ‘C2C Advanced Systems Ltd – SME IPO’.
3) Enter your PAN, Application Number, DP/Client ID, or Account Number and IFSC Code.
5) Then, click on ‘Submit’.
The status of your share request will be displayed on your screen.
C2C Advanced Systems IPO GMP Today
According to market observers, the unlisted shares of C2C Advanced Systems Ltd are currently trading at Rs 426 per share in the gray market, which is Rs 200 or 88.5% higher than the IPO issue price of Rs 226. Advantage of listing
GMP is based on market sentiment and changes. The ‘grey market premium’ indicates the willingness of investors to pay more than the issue price.
IPO listing of C2C Advanced Systems postponed.
Although the C2C Advanced Systems IPO listing was originally scheduled to take place on the NSE SME on November 29, the listing was postponed by markets regulator Sebi to allow the company to appoint an independent auditor. It states that listing can take place after the auditor submits his report to NSE or SEBI. Markets regulator Sebi has asked the company to set up a monitoring agency on the use of funds after the listing.
After the postponement, users were also given the option to withdraw their applications.
C2C Advanced Systems IPO: More Details
The C2C Advanced Systems IPO is a fresh issue of a total of 43.84 lakh shares. The price band of the C2C Advanced Systems IPO was set at Rs 214 to Rs 226 per share.
Minimum lot size for application was 600 shares. The minimum investment required for 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 Pvt Ltd and Belin Capital Advisors Pvt Ltd are the book-running lead managers to the C2C Advanced Systems IPO, while Link Intime India Private Ltd is the registrar of the issue. The market maker for the C2C Advanced Systems IPO is Spread X Securities.
Between the financial year ending March 31, 2024 and March 31, 2023, the company’s revenue grew by 412% and profit after tax (PAT) by 327%.