C2C Advanced Systems IPO to open on November 22; issue price band set at ₹214-226 apiece; check GMP, other details

C2C Advanced Systems IPO will open for subscription on Friday, November 22, and close on Tuesday, November 26. C2C Advanced Systems IPO price has been fixed in the range of ₹214 to ₹226 per equity share of face value of ₹10 each. Bids can be made for a minimum of 600 equity shares and in multiples of 600 equity shares thereafter.

C2C Advanced Systems Limited, formerly known as C2C – DB Systems Private Limited, was incorporated in 2018. The company is a vertically integrated provider of defense electronics solutions, serving the indigenously developed defense products industry in India.

The firm's core competencies include C4I systems for effective situational awareness and decision support, AI/ML-based big data analytics, enterprise integration of real-time data from the Industrial Internet of Things (IIoT), and embedded/FPGA designs.

The company's business model for digital transformation focuses on four main services: Virtual Supply Chain, Virtual Logistics, Virtual Maintenance, and the Application of AI/ML technologies.

As per the red herring prospectus (RHP), the company's sole peer is Paras Defence and Space Technologies Ltd (with a P/E of 116.89).

C2C Advanced Systems Limited experienced a revenue increase of 412% and a profit after tax (PAT) rise of 327% between the financial years ending March 31, 2024, and March 31, 2023.

C2C Advanced Systems IPO details

C2C Advanced Systems IPO consists of a fresh issue of 4,383,600 equity shares, aggregating to ₹99.07 crore. There's no offer for sale (OFS) component.

The IPO's net proceeds will be used to fund capital expenditures for the renovation of the current Experience Center and the establishment of a Training Center in Bengaluru, as well as a new Experience Center in Dubai. Additionally, the funds will be used for fit-outs at the new locations in Bengaluru and Dubai, the payment of the security deposit for the new location in Bengaluru, Karnataka, India, working capital requirements, general corporate purposes, and issue expenses.

The C2C Advanced Systems IPO's book running lead managers are Mark Corporate Advisors Private Limited and Beeline Capital Advisors Pvt Ltd, while the issue's registrar is Link Intime India Private Ltd. Spread X Securities is the market maker for the C2C Advanced Systems IPO.

C2C Advanced Systems IPO GMP today

C2C Advanced Systems IPO GMP today is +245. This indicates C2C Advanced Systems share price was trading at a premium of ₹245 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of C2C Advanced Systems share price is indicated at ₹471 apiece, which is 108.41% higher than the IPO price of ₹226.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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