C2C Advanced Systems IPO Day 1: NSE SME issue booked over 26 times; check offer size, price band and other key details

C2C Advanced Systems IPO opened with strong demand from investors across categories, as the public offer was booked more than 26 times driven by retail investors.

The NSE SME issue received bids for more than 7.73 crore shares compared to 29.14 lakh shares offered for subscription, leading to an overall subscription of 26.54 times.

The retail portion of the IPO was booked 41.47 times with bids for over 6.04 crore shares against 14.57 lakh shares on offer for the category. The Non-Institutional Investors (NIIs) applied for over 1.64 crore shares against 6,24,600 shares set aside for them. The NIIs’ category was booked 26.37 times.

The Qualified Institutional Buyers (QIBs) applied for 4.44 lakh shares against 8.32 lakh shares set aside for them, booking their quota by 53%.

C2C Advanced Systems IPO: Offer size and price band

C2C Advanced Systems IPO, worth ₹99.07 crore, comprises a fresh issuance of 43.84 lakh shares. The price band for the IPO has been fixed at ₹214 to ₹226 per share.

Retail investors interested in applying for the IPO can place bids for a minimum of 600 shares, aggregating to an investment of ₹1,35,600. On the other hand, the High Net Worth Individuals (HNIs) can place bids for 2 lots, or 1,200 shares, which amounts to an investment of ₹2,71,200.

C2C Advanced Systems IPO dates

C2C Advanced Systems IPO is open for subscription from November 22 to November 26. The share allotment status of the IPO is likely to be finalised on Wednesday, November 27.

The company will initiate refunds for unsuccessful bidders on Thursday, November 28. Successful bidders will receive shares of C2C Advanced Systems in their Demat accounts the same day as well. Shares of the company will be listed on the NSE SME platform, Emerge. The tentative listing date for the shares has been fixed as November 29.

C2C Advanced Systems key financials

C2C Advanced Systems’ revenue for Q2FY25 stood at ₹43.24 crore. The company reported a net profit of ₹9.72 crore in the same quarter, while its net profit stood at ₹86.18 crore.

The company's revenue for FY24 increased by over 75% to ₹55.65 crore compared to ₹31.75 crore in FY23. The company’s net profit for the fiscal ended March 31, 2024, stood at ₹8.22 crore, an increase of 102% compared to ₹4.07 crore in the preceding financial year. The net worth of the company increased over 33% to ₹15.25 crore in FY24 from ₹11.43 crore in the preceding fiscal.

C2C Advanced Systems IPO Registrar

The book-running lead managers for C2C Advanced Systems IPO include Mark Corporate Advisors Private Limited and Beeline Capital Advisors Pvt Ltd. The registrar for the issue is Link Intime India Private Ltd.

C2C Advanced Systems Promoters

The 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. The shareholders of the company held a 56.52% stake in the company before the public issue.

C2C Advanced Systems IPO objective

The company plans to use the money raised via the public issue to purchase fixed assets for upgrading its Experience Centre. The funds will also be used to set up a training centre in Bengaluru and for the proposed setting up of an Experience Centre in Dubai. The company will use the proceeds to pay the security deposit for its new premises in Bengaluru. Additionally, the funds will be utilised for fulfilling working capital requirements and general corporate purposes.

About C2C Advanced Systems

C2C Advanced Systems Limited is a provider of defence electronics solutions. The company’s business model is focused on Virtual Supply Chain, Virtual logistics, Virtual Maintenance and Application of Artificial Intelligence and Machine Learning technologies.

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. The company had 190 employees as of October 31, 2024.