C2C Advanced Systems IPO Opening on November 22: Price Band Set at ₹214-226 per Share
C2C Advanced Systems, a key player in the defence technology sector, has announced its initial public offering (IPO), opening for subscription from November 22 to November 26, 2024. 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 ₹135,600. Here’s an overview of the details and potential of this IPO.
Company 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
Promoters of C2C Advanced Systems
The promoters of the company are C2C Innovations Private Limited, PVR Multimedia Private Limited, Lakshmi Chandra, Maya Chandra, Subrahmanya Srinivasa Narendra Lanka, Kuriyedath Ramesh and Murtaza Ali Soomar.
Financial Highlights
The company has demonstrated strong financial growth.
Revenue for the year ended March 2024 is ₹41.30 crore, up from ₹8.07 crore in FY23.
Net profit for the same period was ₹12.27 crore, up from ₹2.87 crore in FY23.
Net worth: ₹76.46 crore as of March 2024, up from ₹25.21 crore in FY23
IPO Details
Total issue size is ₹99.07 crore, entirely through a fresh issue of shares.
Listing will be done on the NSE SME platform.
The IPO has already secured ₹28.23 crore from anchor investors, indicating robust institutional interest.
Allocation and Timeline
Investor quotas are 50% for qualified institutional buyers (QIB), 15% for high net-worth individuals (HNI), and 35% for retail investors.
The allotment Date is fixed at November 27, 2024, whereas the listing date is November 29, 2024.
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