December 3, 2024
New Delhi, India
C2C Advanced Systems IPO
C2C Advanced Systems made a remarkable debut on the NSE SME platform on Tuesday, with its shares listed at ₹429.40 apiece, marking a 90% premium over the issue price of ₹226. The listing aligned with investor expectations, fueled by a strong grey market premium (GMP) of 106% prior to the IPO debut.
IPO Subscription and Allotment Highlights
- The ₹99.07 crore IPO, priced in the range of ₹214-₹226 per share, ran from November 22 to November 26.
- The public issue was subscribed a total of 125.35 times, reflecting robust demand:
- Retail category: 132.73 times.
- Non-Institutional Investors (NII): 233.13 times.
- Qualified Institutional Buyers (QIB): 31.61 times.
- Allotment was finalized on November 29, ahead of the December 3 listing.
Utilization of Funds
C2C Advanced Systems plans to allocate the IPO proceeds towards:
- Capital expenditure for purchasing fixed assets and fit-outs at its new Bengaluru premises.
- Payment of a security deposit for the new premises.
- Working capital requirements and general corporate expenses.
About C2C Advanced Systems
A defense electronics solutions provider, C2C Advanced Systems specializes in advanced technology and innovation in the sector.
The IPO was managed by Mark Corporate Advisors Private Limited and Beeline Capital Advisors Pvt Ltd, with Link Intime India Private Ltd as the registrar.
This impressive debut underscores the confidence of investors in C2C Advanced Systems’ growth potential and robust financial strategy.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.
