C2C Advanced Systems IPO allotment: How to check status online on Link Intime India and NSE

C2C Advanced Systems IPO allotment status will likely be finalised on Friday, November 29, after the initial public offering closed with a robust subscription.

The IPO share allotment, scheduled for November 27, was postponed after market regulator Securities and Exchange Board of India (SEBI) asked the company to appoint an independent auditor to evaluate its financial accounts.

C2C Advanced Systems IPO: Steps to check status online on NSE

• Go to the allotment status page of the NSE: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Enter your login credentials
• Choose 'C2C Advanced Systems'
• Enter PAN details
• Type in your IPO application number
• Click on the 'submit' button

C2C Advanced Systems IPO: How to check status online on Link Intime India

• Visit the 'Public issues' page of Link Intime India: https://www.linkintime.co.in/
• Select 'C2C Advanced Systems' from the list of IPO names.
• Type in your application no, PAN, Account No/IFSC or DP/Client ID
• Click on the 'Submit' button

The NSE SME issue opened for bidding on November 22 and closed on November 26. The C2C Advanced Systems IPO received bids for more than 36.56 crore shares compared to the 29.14 lakh shares on offer. The issue was booked 125.42 times across all investor categories.

The retail quota of the IPO was booked 132.73 times, and the non-institutional investors' (NIIs) portion was booked 233.47 times. The qualified institutional buyers (QIBs) subscribed the issue 31.61 times.

C2C Advanced Systems IPO sees withdrawal of 3.72 lakh applications

C2C Advanced Systems IPO: Refund and listing date

Refunds will be initiated for unsuccessful bidders on December 2, and successful bidders will receive shares of C2C Advanced Systems in their Demat accounts on the same day. Shares of C2C Advanced Systems will likely be listed on the NSE SME platform, Emerge, on Tuesday, December 3.

C2C Advanced Systems IPO Details

The C2C Advanced Systems IPO was worth ₹99.07 crore and consisted of an entirely new issue of 43.84 lakh shares.

C2C Advanced Systems IPO price band was fixed at ₹214 to ₹226 per share. The minimum lot size for retail investors was fixed at 600 shares, which aggregated to an investment of ₹1,35,600.

C2C Advanced Systems IPO objective

The company plans to use the money raised via the public issue to purchase fixed assets for its existing experience centre, set up a training centre in Bengaluru, and propose setting up an experience centre in Dubai.

The proceeds will also be used for fit-outs for the premises at Bengaluru and Dubai, the payment of a security deposit for the new premises at Bengaluru, Karnataka, India, working capital requirements, and general corporate purposes.

About C2C Advanced Systems

C2C Advanced Systems Limited provides defence electronics solutions. The company's product portfolio includes Combat Management Systems, C4I Systems, Anti-Drone Command and Control Systems, Air Defence Subsystems, and other such products. As of October 30, 2024, the company employed 190 people.