C2C Advanced Systems Day 3 Live Updates: Key Highlights, Subscription Status, and Insights

Day 2 Subscription Status

The C2C Advanced Systems IPO attracted significant interest on its second day, with total subscriptions soaring to 108.02 times the shares available. This overwhelming participation highlights strong investor confidence in the company.

• Retail investors subscribed 159.70 times their allotted portion. 
• Non-Institutional Investors (NIIs) dominated with a subscription of 123.45 times.
• Qualified Institutional Buyers (QIBs) also showed interest, subscribing 6.00 times their reserved quota.

Day 1 Subscription Status

• The IPO was subscribed 27.19 times on the first day, November 22, 2024.
• Qualified Institutions: 0.53 times
• Non-Institutional Buyers: 26.68 times
• Retail Investors: 42.64 times

C2C Advanced Systems Listing Delayed Amid Regulatory Directive

The listing of shares for C2C Advanced Systems has been delayed following a directive from regulators. The National Stock Exchange (NSE) and the Securities and Exchange Board of India (SEBI) have asked the company to appoint independent auditors to review its financial accounts and submit a report.

SEBI's directive includes three key actions:

• C2C Advanced Systems must appoint independent auditors to evaluate its financial accounts. The company has already started this process and expects the report to be completed in 2-3 days.
• Investors, including anchor investors, can withdraw their IPO applications before share allocation. No new subscriptions are allowed during this time.
• The NSE will set up a monitoring agency to oversee the use of funds after the company's listing.

The IPO listing will remain on hold until the independent auditor's report is submitted to NSE and SEBI. Investors who wish to withdraw their applications can contact their broker or ASBA banker.

C2C Advanced Systems IPO Details

The total issue size is ₹99.07 crore, entirely through a fresh issue of shares. The IPO has already secured ₹28.23 crore from anchor investors, indicating robust institutional interest​. The IPO price band has been set at ₹214 to ₹226 per share, with a minimum lot size of 600 shares, translating to a base investment of ₹1,35,600. Here’s an overview of the details and potential of this IPO.

Investor Category Shares Offered

Use of Proceeds

The funds will support:

• Infrastructure expansion: Including fit-outs for Bengaluru and Dubai Experience Centres.
• Fixed asset purchases: For hardware and software upgrades.
• Working capital: Strengthening operational capacity.
• General corporate purposes

C2C Advanced Systems Overview

C2C Advanced Systems specialises in indigenously developed defence electronics, offering solutions in C4I systems, real-time data integration, AI/ML analytics, and embedded design systems. Founded in 2018, the company aligns with government initiatives like Atmanirbhar Bharat and Make in India, making it a strong prospect in India’s growing defence sector​.

C2C Advanced Systems’ business model on digital transformation centres around four main deliveries:

• Virtual supply chain
• Virtual logistics
• Virtual maintenance
• Application of AI/ML technologies across all offerings and as standalone product development and engineering

C2C Advanced Systems Financial Highlights

The company has demonstrated strong financial growth.

Revenue for the year ended March 2024 is ₹41.06 crore, up from ₹8.05 crore in FY23.

Net profit for the same period was ₹12.39 crore, up from ₹2.87 crore in FY23.

Net worth: ₹76.46 crore as of March 2024, up from ₹2.52 crore in FY23​.

Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.