C2C Advanced Systems IPO Allotment Status Finalized
The much-anticipated IPO allotment status for C2C Advanced Systems was finalized on Monday, December 2, following a robust subscription that captured the attention of investors. Initially scheduled for November 27, the allotment was postponed due to a directive from the Securities and Exchange Board of India (SEBI), which required the company to appoint an independent auditor to assess its financial accounts. This step was crucial to ensure transparency and maintain investor confidence.
For those eager to check their allotment status, it can be accessed on the official websites of the National Stock Exchange (NSE) and the issue registrar, Link Intime India Private Limited.
How to Check C2C Advanced Systems IPO Allotment Status Online
Steps to Check Status on NSE
- Visit the NSE website.
- Navigate to the IPO section.
- Enter your details as required to view your allotment status.
Steps to Check Status on Link Intime India
- Go to the ‘Public issues’ page of Link Intime India: Link Intime India.
- Select ‘C2C Advanced Systems’ from the list of IPO names.
- Enter your application number, PAN, Account No/IFSC, or DP/Client ID.
- Click on the ‘Submit’ button to view your status.
Subscription Details
The C2C Advanced Systems IPO opened for bidding on November 22 and closed on November 26. It witnessed an overwhelming response, with bids exceeding 36.56 crore shares against the 29.14 lakh shares available. The issue was oversubscribed by an impressive 125.42 times across all investor categories.
- Retail Investors: The retail quota was booked 132.73 times.
- Non-Institutional Investors (NIIs): This segment saw a staggering subscription of 233.47 times.
- Qualified Institutional Buyers (QIBs): They subscribed to the issue 31.61 times.
Withdrawal of Applications
In a notable development, 3.72 lakh applications were withdrawn during the subscription period. This reflects the dynamic nature of investor sentiment and market conditions.
Refund and Listing Date
Refunds for unsuccessful bidders were initiated on December 2, coinciding with the allotment announcement. Successful bidders can expect to see shares of C2C Advanced Systems credited to their Demat accounts on the same day. The shares are anticipated to be listed on the NSE SME platform, Emerge, on Tuesday, December 3.
C2C Advanced Systems IPO Details
The C2C Advanced Systems IPO was valued at ₹99.07 crore, comprising an entirely new issue of 43.84 lakh shares. The price band was set between ₹214 and ₹226 per share, with a minimum lot size of 600 shares, requiring a total investment of ₹1,35,600 for retail investors.
Objectives of the IPO
The funds raised through this public issue are earmarked for several strategic initiatives:
- Acquisition of Fixed Assets: Enhancing the existing experience center.
- Establishment of a Training Centre: Aiming to set up a facility in Bengaluru.
- International Expansion: Plans to establish an experience center in Dubai.
- Operational Needs: The proceeds will also cover fit-outs for new premises in Bengaluru and Dubai, payment of security deposits, working capital requirements, and general corporate purposes.
About C2C Advanced Systems
C2C Advanced Systems Ltd specializes in providing cutting-edge defense electronics solutions. Its diverse product portfolio includes Combat Management Systems, C4I Systems, Anti-Drone Command and Control Systems, and Air Defence Subsystems, among others. As of October 30, 2024, the company employed 190 professionals, reflecting its commitment to innovation and growth in the defense sector.
For more information on IPO listings, schedules, and upcoming IPOs, visit our page.
In conclusion, the C2C Advanced Systems IPO has generated significant interest and participation from various investor segments, marking a successful entry into the public market. The company’s strategic plans and robust product offerings position it well for future growth in the defense electronics sector.