C2C Advanced Systems Subscribed on Day 2

On the 2nd day of bidding, the C2C Advanced Systems IPO witnessed increased interest from the various investors.  The IPO opened for subscription on November 22, 2024, and will close on November 26, 2024. C2C Advanced Systems IPO allotment is expected to be finalised on Wednesday, November 27, 2024.

The price band for the IPO has been set at ₹214 to ₹226 per share. The minimum lot size for an application is 600 Shares. The minimum amount of investment required by retail investors is ₹135,600. 

C2C Advanced Systems Limited has appointed Mark Corporate Advisors Private Limited and Beeline Capital Advisors Pvt Ltd as the book-running lead managers, while Link Intime India Private Ltd as the registrar for the issue. The market maker for C2C Advanced Systems is Spread X Securities.

Ahead of the IPO, C2C Advanced Systems raised  ₹28.23 crore from anchor investors on the anchor bid date of November 21, 2024.

C2C Advanced Systems IPO subscribed 65.54 times on day 2 at 12:50 PM. The public issue subscribed 98.95 times in the retail category, 4.23 times in QIB, and 69.31 times in the NII category. 

C2C Advanced Systems IPO Objectives

C2C Advanced Systems Limited intends to utilise the proceeds of the net issue in the following manner:

• Funding of capital expenditure towards the purchase of fixed assets (both hardware and software) for its existing operations (the upgradation of the existing Experience Centre and set up of Training Centre at Bengaluru) and the proposed set up of Experience Centre at Dubai.
• Towards fit-outs at the new premises at both Bengaluru and Dubai.
• Payment of Security Deposit for the new premises at Bengaluru, Karnataka, India.
• To fund the working capital requirements of the Company.
• To fund expenditure towards general corporate purposes.

C2C Advanced Systems Limited

C2C Advanced Systems Limited, formerly known as C2C – DB Systems Private Limited, incorporated in 2018, is a vertically integrated defence electronics solutions provider catering to the indigenously developed defence products industry in India. The company’s core competencies include C4I systems for effective situational awareness and decision support, AI/ML-based big data analytics, enterprise integration of real-time data from IIOT, and embedded/FPGA designs.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.