C2C Advanced Systems IPO Day 3: Check GMP, subscription status and other key details

As bC2C Advanced Systems’ three-day initial public offering (IPO) opened for subscription on Friday, November 22 in the price range of ₹214 to ₹226 per share. The IPO was subscribed on the first day itself, with strong demand from retail and institutional investors. The IPO consists of a fresh issue of 4,383,600 equity shares, with the company looking to raise ₹99.07 crore. The IPO has no offer for sale (OFS) component. C2C Advanced Systems IPO Subscription Status C2C Advanced Systems IPO was subscribed 125.35 times at the end of Day 3 on Tuesday, November 26. The retail investor category was subscribed 132.73 times as against 158.62 times at the end of Day 2. The fall in subscription comes as the company postponed listing for the IPO after NSE and SEBI instructed the company to appoint independent auditors and obtain an independent report on its financial accounts. It also allowed investors to withdraw bids. The non-institutional investor (NII) portion was booked 233.13 times and the qualified institutional buyers (QIB) portion 31.61 times. Also Read | Kalpataru, Unimech Aerospace and Manufacturing gets SEBI nod for IPO C2C Advanced Systems IPO Subscription Rate Retail Investors can bid for a minimum of 600 shares and in multiples thereof. To subscribe to one lot of the IPO, investors will need to shell out ₹1,35,600. For HNI investors, the minimum subscription is two lots, requiring an investment of ₹2,71,200. C2C Advanced Systems IPO Objective The net proceeds from the IPO will be allocated towards capital expenditures for renovating the existing Experience Center and setting up a Training Center in Bengaluru, along with establishing a new Experience Center in Dubai. The funds will also be used for fit-outs at the new Bengaluru and Dubai locations, payment of the security deposit for the Bengaluru site in Karnataka, working capital needs, general corporate purposes, and covering issue expenses. C2C Advanced Systems IPO GMP C2C Advanced Systems IPO grey market premium (GMP) stood at ₹100 over the IPO price of ₹226. At the current GMP, C2C Advanced Systems shares could list at ₹326, up 44 per cent. This is lower than ₹245 the company was commanding as of Sunday. About C2C Advanced Systems IPO C2C Advanced Systems Limited, previously known as C2C – DB Systems Private Limited, was established in 2018. The company is a vertically integrated provider of defense electronics solutions, catering to India's indigenously developed defense products industry. https://www.livemint.com/market/ipo/c2c-advanced-systems-ipo-day-2-check-gmp-subscription-status-and-other-key-details-11732541082024.html

Read more