IPO Details
Bidding Dates
26 Nov '24 - 27 Nov '24
Minimum Investment
₹1,35,600 / 1 Lot (600 Shares)
Price Range
₹214 - ₹226
Maximum Investment
₹1,35,600 / 1 Lot (600 Shares)
Retail Discount
To be announced
Issue Size
₹99.07 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Nov 22, 2024
Closing Date
Nov 26, 2024
Basis of Allotment
Nov 27, 2024
Initiation of Refunds
Nov 28, 2024
Listing Date
Nov 29, 2024
About C2C Advanced Systems IPO
C2C Advanced Systems Limited is launching an IPO through a book-built issue valued at ₹99.07 crore, consisting entirely of a fresh issue of 43.84 lakh equity shares. The IPO will open for subscription on November 22, 2024, and close on November 26, 2024. Allotment is expected to be finalised by November 27, 2024, with the listing on the NSE SME scheduled for November 29, 2024.
The IPO price band is set between ₹214 and ₹226 per share. Retail investors can apply for a minimum lot size of 600 shares, requiring an investment of ₹1,35,600. For High Net-worth Individuals (HNIs), the minimum application is 2 lots (1,200 shares) amounting to ₹2,71,200.
Mark Corporate Advisors Private Limited and Beeline Capital Advisors Pvt Ltd are the lead managers for the IPO, with Link Intime India Private Ltd serving as the registrar. Spread X Securities is the market maker for this issue.
Industry Outlook:
- The Indian defence manufacturing sector aims for a turnover of $25 billion by 2025, with $5 billion earmarked for exports, showing strong global ambitions.
- The $130 billion investment in fleet modernisation signals significant opportunities for private sector collaboration in advanced aerospace and defence technology innovation.
C2C Advanced Systems IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding of capital expenditure towards the purchase of fixed assets (both hardware and software) for the 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.
About C2C Advanced Systems Limited
C2C Advanced Systems Limited, established in 2018 and formerly known as C2C – DB Systems Private Limited, is a vertically integrated provider of advanced defense electronics solutions in India. The company specializes in C4I systems designed for enhanced situational awareness and decision support, AI/ML-driven big data analytics, real-time enterprise integration via IIOT, and embedded/FPGA designs.
C2C's digital transformation offerings are built around four core services: Virtual Supply Chain, focused on real-time data software development; Virtual Logistics, using commercial off-the-shelf (COTS) electronics for robust subsystem integration; Virtual Maintenance, delivering integrated systems for situational awareness; and advanced AI/ML applications.
The company's product portfolio includes Combat Management Systems, C4I Systems, Anti-Drone Command and Control Systems, Air Defence Subsystems, Integrated Platform Management Systems, and Integrated Vessel Management Systems. As of October 2024, C2C Advanced Systems Limited employs a skilled workforce of 190, driving innovation in India’s indigenously developed defense products industry.
Peer Details
The only listed company considered by C2C Advanced Systems as its peers is Paras Defence and Space Technologies Limited.
How to Check the Allotment Status of the C2C Advanced Systems IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How to apply for C2C Advanced Systems IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the C2C Advanced Systems IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of C2C Advanced Systems IPO
- Registered office: No.86, Wings of Eagles, SS Commercial Estate, Varthur Road, Nagavarapalya Main Road, C V Raman Nagar, Bengaluru– 560093 Karnataka, India
- Phone: +91 80 4372 4052
- E-mail: compliance@c2c-as.com
IPO Financials
| Particulars | For the period ended September 30, 2024 | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|---|
| Revenue from operation (in ₹ lakh) | 4,322.37 | 4,105.89 | 804.87 | 34.69 |
| Profit After Tax (PAT) (in ₹ lakh) | 972.99 | 1,239.54 | 287.52 | (238.21) |
| Total Borrowings (in ₹ lakh) | 1,329.02 | 0.00 | 944.74 | 554.77 |
| Net Worth (in ₹ lakh) | 8,618.72 | 7,645.73 | 252.14 | (136.57) |
| NAV (in ₹) | 70.31 | 62.38 | 16.81 | (27.31) |
| Debt Equity Ratio (x) | 0.15 | - | 3.75 | (4.06) |
| Return on Net Worth (RoNW) (%) | 11.29 | 16.06 | 114.03 | - |
| Earning Per Share (EPS)-in absolute ₹ | 7.94 | 15.85 | 14.29 | (11.91) |
Know before investing
Strengths
6-
Diverse portfolio of over 100 defense products and solutions.
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Strong R&D focus with Experience Centre in Bengaluru, Karnataka.
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Proven expertise in C4I, AI/ML, IIOT, and FPGA systems.
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Delivered new-generation Combat Management Systems for Malaysian Navy.
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Positioned for growth via "Atmanirbhar Bharat" and “Make in India.”
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Global reach with customers across India, USA, UK, and Malaysia.
Risks
6-
High dependence on GoI contracts; reprioritization could impact revenue.
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Top 10 customers contributed 99.05% of 2024 revenue.
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Significant working capital requirements; cash flow challenges affect liquidity.
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High trade receivable days: 1,910 (2022) and 4,085 (2023).
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Negative cash flow from operations in recent financial years reported.
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Unsecured loans from promoters; potential repayment could strain finances.
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C2C Advanced Systems IPO FAQs
C2C Advanced Systems’s IPO is a book built IPO. It will be open from November 22, 2024, to November 26, 2024.
The Basis of Allotment will happen on Wednesday, November 27, 2024.
The IPO subscription window will open on November 28, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 600 shares.
The listing date for C2C Advanced Systems is Friday, November 29, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read C2C Advanced Systems’ financial statements, download the IPO’s RHP document.
