C2C Advanced Systems lists at 90% premium over IPO price; check how much retail investors made

C2C Advanced Systems Limited shares made a strong debut on the NSE SME platform Emerge on Tuesday, December 3.

C2C Advanced Systems shares listed on the NSE SME platform Emerge at ₹429.4 apiece, up by 90% compared to the issue price of ₹226 apiece. The stock rallied further 5% to hit the upper circuit limit of ₹450.85 apiece on the NSE.

Retail investors who were allotted at least one lot or 600 shares would have made a profit of ₹1,22,040 (₹203.4 x 600) after the stock started trading on the exchange.

As many as 2.49 lakh company shares changed hands on the NSE after the stock began to trade. C2C Advanced Systems Limited's total market capitalisation stood at ₹750.27 crore.

C2C Advanced Systems IPO details

C2C Advanced Systems IPO was worth ₹99.07 crore. The book-built issue consisted of only a fresh issuance of 43.84 lakh shares. The issue price was fixed at ₹214 to ₹226 per share.

The minimum application size for applying for C2C Advanced Systems IPO for retail investors was at least a single lot of 600 shares, which aggregated to an investment of ₹1,35,600.

C2C Advanced Systems IPO was booked 125.42 times during the three-day subscription window which opened on Friday, November 22 and closed on Tuesday, November 26. The SME issue received bids for over 36.56 crore shares across investor categories compared to the 29.14 lakh shares offered for subscription.

The non-institutional investors (NII) quota of the C2C Advanced Systems IPO was booked 233.47 times, the retail investors’ quota 132.73 times, and the qualified institutional buyers (QIB) of the SME issue 31.61 times.

The proceeds of the issue will be used to purchase fixed assets for the company’s existing operations, fit outs at its new premises in Bengaluru and Dubai, and pay the security deposit for its new premises in Bengaluru.

The company will also use the proceeds of the public issue to fund its working capital requirements and for general corporate purposes.

C2C Advanced Systems Limited is a vertically integrated defence electronics solutions provider. The company caters to India's indigenously developed defense products industry. Its product portfolio includes Combat Management Systems, C4I Systems, and Anti-Drone Command and Control Systems. As of October 30, 2024, the company employed 190 workers.