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C2C Advanced Systems IPO GMP: Unlisted shares of C2C Advanced Systems Ltd were trading at Rs 471 apiece in the grey market, which is a huge Rs 245 or 108.41 per cent above the issue price of Rs 226 per share.
C2C Advanced Systems IPO.
C2C Advanced Systems IPO: The initial public offering of defence electronics solutions provider C2C Advanced Systems, which was opened on November 22, has received a whopping over 106 times subscription so far. Till 5:00 pm, the Rs 99.07-crore SME IPO received bids for 31,11,36,000 shares as compared with the 29,14,800 shares on offer.
The IPO will be closed on November 26. Its price band has been fixed in the range of Rs 214 to Rs 226 apiece.
So far, the retail investors’ category received a 157.38 times subscription, while the non-institutional investors (NII) portion got subscribed by 122.91 times. Its QIB category received a 6.00 times subscription.
C2C Advanced Systems IPO Listing To Be Postponed
Though the C2C Advanced Systems IPO listing was scheduled to take place on the NSE SME on November 29, the listing will be postponed after markets regulator Sebi has asked the company to appoint an independent auditor, according to a Moneycontrol report citing people in the know. It said that the listing could take place after the auditor submits its report to NSE or SEBI.
C2C Advanced Systems IPO GMP Today
According to market observers, unlisted shares of C2C Advanced Systems Ltd were trading at Rs 471 apiece in the grey market on Monday, which was a huge Rs 245 or 108.41 per cent above the issue price of Rs 226 per share. The huge Rs 245 GMP indicates a blockbuster listing of the IPO.
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: More Details
The C2C Advanced Systems IPO is entirely a fresh issue of 43.84 lakh shares.
The IPO, which was opened on November 22, is available for public subscription till November 26, 2024. Its allotment is expected to be finalised on Wednesday, November 27, 2024. The shares was originally decided to be listed on the NSE SME on November 29, 2024, it will be postponed as Sebi said the listing cant happen unless an independent auditor is appointed and the auditor submits the report to NSE or Sebi.
The price band of the C2C Advanced Systems IPO has been fixed at Rs 214 to Rs 226 per share. The minimum lot size for an application is 600 shares. The minimum amount of investment required by retail investors is Rs 135,600. The minimum lot size investment for HNI is 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.