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  |  

C2C Advanced Systems 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 C2C Advanced Systems 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:

  1. The Indian defence manufacturing sector aims for a turnover of $25 billion by 2025, with $5 billion earmarked for exports, showing strong global ambitions.
  2. 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:

  1. 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.
  2. Towards fit-outs at the new premises at both Bengaluru and Dubai.
  3. Payment of security deposit for the new premises at Bengaluru, Karnataka, India.
  4. To fund the working capital requirements of the company.
  5. 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:

  1. Log in to the Angel One app
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How to apply for C2C Advanced Systems IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the C2C Advanced Systems IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

C2C Advanced Systems Limited Peer Details Comparison

Company Name

EPS (Basic)

EPS (Diluted)

NAV (Per Share) (Rs)

P/E (x)

RoNW (%)

P/BV Ratio

C2C Advanced Systems Limited

15.85

15.85

62.38

22.56

16.06

3.65

Paras Defence and Space Technologies Limited

8.77

8.77

105.87

116.89

8.29

9.76

C2C Advanced Systems IPO Lot Size

Application

Lots

Shares

Amount

Retail (Min)

1

600

₹1,35,600

Retail (Max)

1

600

₹1,35,600

HNI (Min)

2

1200

₹2,71,200

C2C Advanced Systems IPO Reservation

Approximately 43,83,600 shares will be offered in the C2C Advanced Systems IPO. Of these, 8,32,800 (19%) will be offered to QIB, 6,24,600 (14.25%) to NII, 14,57,400 (33.25%) to RII, and 12,49,200 (28.5%) to Anchor investors.

Investor Category

Shares Offered

Percentage

Anchor Investor Shares

12,49,200

28.5%

Market Maker Shares

2,19,600

5.01%

QIB Shares

8,32,800

19%

NII (HNI) Shares

6,24,600

14.25%

Retail Shares

14,57,400

33.25%

Total Shares Offered

43,83,600

100%

C2C Advanced Systems IPO Anchor Investor Details

C2C Advanced Systems IPO secured ₹28.23 crore through anchor investors on November 21, 2024, the designated anchor bid date.

Details

Information

Anchor Bid Date

November 21, 2024

Shares Offered to Anchor Investors

1,249,200

Anchor Portion Size (₹ Cr.)

28.23

Anchor Lock-in Period End Date (50% Shares)

December 27, 2024 (30 days)

Anchor Lock-in Period End Date (Remaining Shares)

February 25, 2025 (90 days)

C2C Advanced Systems IPO Promoter Holding

Promoters of the company include C2C Innovations Private Limited, PVR Multimedia Private Limited, Lakshmi Chandra, Maya Chandra, Subrahmanya Srinivasa Narendra Lanka, Kuriyedath Ramesh and Murtaza Ali Soomar.

Share Holding Pre-Issue

56.52%

Share Holding Post Issue

NA

Key Performance Indicators (KPI) for C2C Advanced Systems IPO

As of October 15, 2024, C2C Advanced Systems' market capitalisation stood at ₹376.09 crore. Here are its KPIs as of October 15, 2024.

KPI

Value

Debt/Equity

0.15

RoNW

11.29%

P/BV

3.62

PAT Margin (%)

22.51

C2C Advanced Systems IPO Registrar and Lead Managers

C2C Advanced Systems IPO Lead Managers:

  • Mark Corporate Advisors Private Limited 
  • Beeline Capital Advisors Pvt Ltd 

Registrar for C2C Advanced Systems IPO

Link Intime India Private Ltd

  • Contact Number: +91-22-4918 6270
  • Email Address: c2csme.ipo@linkintime.co.in

Website: C2C Advanced Systems IPO Registrar

C2C Advanced Systems 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

  1. Diverse portfolio of over 100 defense products and solutions.

  2. Strong R&D focus with Experience Centre in Bengaluru, Karnataka.

  3. Proven expertise in C4I, AI/ML, IIOT, and FPGA systems.

  4. Delivered new-generation Combat Management Systems for Malaysian Navy.

  5. Positioned for growth via "Atmanirbhar Bharat" and “Make in India.”

  6. Global reach with customers across India, USA, UK, and Malaysia.

Risks

6

  1. High dependence on GoI contracts; reprioritization could impact revenue.

  2. Top 10 customers contributed 99.05% of 2024 revenue.

  3. Significant working capital requirements; cash flow challenges affect liquidity.

  4. High trade receivable days: 1,910 (2022) and 4,085 (2023).

  5. Negative cash flow from operations in recent financial years reported.

  6. Unsecured loans from promoters; potential repayment could strain finances.

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C2C Advanced Systems IPO FAQs

What is the C2C Advanced Systems IPO?

C2C Advanced Systems’s IPO is a book built IPO. It will be open from November 22, 2024, to November 26, 2024.

When will the C2C Advanced Systems IPO be allotted?

The Basis of Allotment will happen on Wednesday, November 27, 2024.

When will the C2C Advanced Systems IPO open for subscription?

The IPO subscription window will open on November 28, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 600 shares.

When will C2C Advanced Systems Limited list on exchanges?

The listing date for C2C Advanced Systems is Friday, November 29, 2024.

What would be the listing gains on the C2C Advanced Systems IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a C2C Advanced Systems IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the C2C Advanced Systems IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of C2C Advanced Systems Limited using one PAN?

You can submit only one application using your PAN card.

How to read C2C Advanced Systems Limited's financial statements?

To read C2C Advanced Systems’ financial statements, download the IPO’s  RHP document.

What is 'pre-apply' for C2C Advanced Systems Limited IPO?

Pre-apply allows investors to apply for the  C2C Advanced Systems  IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the C2C Advanced Systems Limited IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my C2C Advanced Systems Limited IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of C2C Advanced Systems IPO?

Link Intime India Private Ltd is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the C2C Advanced Systems IPO getting listed?

C2C Advanced Systems Limited  IPO is proposed to be listed on the SME platform of the National Stock Exchange (NSE).