C2C Advanced Systems IPO Day 2: Check GMP, subscription status and other key details | Stock Market News


C2C Advanced Systems’ three-day initial public offering (IPO) opened for subscription on Friday, November 22 in the price range of 214 to 226 per share. The IPO was subscribed on the first day itself, with strong demand from retail and institutional investors.

The IPO consists of a fresh issue of 4,383,600 equity shares, with the company looking to raise 99.07 crore. The IPO has no offer for sale (OFS) component.

C2C Advanced Systems IPO Subscription Status

C2C Advanced Systems IPO was subscribed 107.43 times at the end of Day 2 on Monday, November 25. The retail investor category was subscribed 158.62 times, the non-institutional investor (NII) portion 123.21 times and the qualified institutional buyers (QIB) portion 6 times.

At the end of Day 1, C2C Advanced Systems IPO was subscribed 27.19 times.

C2C Advanced Systems IPO Key Dates

C2C Advanced Systems IPO opened on November 22 and will remain open for subscription till Tuesday, November 26, with the basis of allotment expected to be finalised on Wednesday, November 27. C2C Advanced Systems IPO shares will be credited to the Demat account of investors receiving the allotment on Thursday, November 28 and the initiation of refund will also happen on the same day for those who missed getting the allotment.

The listing date of C2C Advanced Systems IPO is expected to be Friday, November 29.

C2C Advanced Systems IPO Subscription Rate

Retail Investors can bid for a minimum of 600 shares and in multiples thereof. To subscribe to one lot of the IPO, investors will need to shell out 1,35,600. For HNI investors, the minimum subscription is two lots, requiring an investment of 2,71,200.

C2C Advanced Systems IPO Objective

The net proceeds from the IPO will be allocated towards capital expenditures for renovating the existing Experience Center and setting up a Training Center in Bengaluru, along with establishing a new Experience Center in Dubai. The funds will also be used for fit-outs at the new Bengaluru and Dubai locations, payment of the security deposit for the Bengaluru site in Karnataka, working capital needs, general corporate purposes, and covering issue expenses.
 

C2C Advanced Systems IPO GMP

C2C Advanced Systems IPO grey market premium (GMP) stood at 245 over the IPO price of 226. At the current GMP, C2C Advanced Systems shares could list at 471, up 108 per cent. The GMP has held steadily at this level for the last six days, suggesting high demand for the company’s share in the unlisted market.

About C2C Advanced Systems IPO

C2C Advanced Systems Limited, previously known as C2C – DB Systems Private Limited, was established in 2018. The company is a vertically integrated provider of defense electronics solutions, catering to India’s indigenously developed defense products industry.

The company’s key strengths include C4I systems for enhanced situational awareness and decision support, AI/ML-driven big data analytics, enterprise integration of real-time data from the Industrial Internet of Things (IIoT), and embedded/FPGA designs.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *