Bookbuilding IPO | ₹99 Cr | Listed at NSE SME | Fri, Nov 22, 2024 - Tue, Nov 26, 2024
C2C Advanced Systems IPO is a book build issue of ₹99.07 crores. The issue is entirely a fresh issue of 0.44 crore shares of ₹99.07 crore.
C2C Advanced Systems IPO bidding started from Nov 22, 2024 and ended on Nov 26, 2024. The allotment for C2C Advanced Systems IPO was finalized on Nov 29, 2024. The shares got listed on NSE SME on Dec 3, 2024.
C2C Advanced Systems IPO price band is set at ₹226 per share. The lot size for an application is 600. The minimum amount of investment required by an retail is ₹1,35,600 (600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,200 shares), amounting to ₹2,71,200.
Mark Corporate Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Spread X Securities Pvt.Ltd..
Refer to C2C Advanced Systems IPO RHP for detailed Information.
IPO Open
Fri, Nov 22, 2024
IPO Close
Tue, Nov 26, 2024
Issue Price
₹226 per share
Market Cap (Pre-IPO)
₹376.09 Cr
| IPO Date | 22 to 26 Nov, 2024 |
| Listed on | Tue, Dec 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹214 to ₹226 |
| Issue Price | ₹226 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 43,83,600 shares (agg. up to ₹99 Cr) |
| Reserved for Market Maker | 2,19,600 shares Spread X Securities Pvt.Ltd. (agg. up to ₹5 Cr) |
| Fresh Issue (Ex Market Maker) | 41,64,000 shares (agg. up to ₹94 Cr) |
| Net Offered to Public | 41,64,000 shares (agg. up to ₹94 Cr) |
| Share Holding Pre Issue | 1,22,57,568 shares |
| Share Holding Post Issue | 1,66,41,168 shares |
| NSE Symbol | C2C |
| ISIN | INE0U7V01015 |
C2C Advanced Systems IPO comprises a total issue size of 43,83,600 shares. The net offer to the public is 41,64,000 shares, after excluding 2,19,600 shares allotted on a firm basis. Of the Net offer 20,82,000 (50.00%) are allocated to QIB, 6,24,600 (15.00%) allocated to NII 14,57,400 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 20,82,000 | 50.00% | 47.50% |
| − Anchor Investor Shares Offered | 12,49,200 | 28.50% | |
| − QIB (Ex. Anchor) Shares Offered | 8,32,800 | 19.00% | |
| NII (HNI) Shares Offered | 6,24,600 | 15.00% | 14.25% |
| Retail Shares Offered | 14,57,400 | 35.00% | 33.25% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,19,600 | 5.01% | |
| Total Shares Offered | 43,83,600 | 100.00% | 100.00% |
Investors can bid for a minimum of 600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹1,35,600 |
| Retail (Max) | 1 | 600 | ₹1,35,600 |
| HNI (Min) | 2 | 1,200 | ₹2,71,200 |
C2C Advanced Systems IPO raises ₹28.23 crore from anchor investors. C2C Advanced Systems IPO Anchor bid date is November 21, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Nov 21, 2024 |
| Shares Offered | 12,49,200 |
| Anchor Portion (₹ Cr.) | 28.23 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Dec 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Mar 1, 2025 |
C2C Advanced Systems Limited, formerly known as C2C – DB Systems Private Limited, incorporated in 2018, is a vertically integrated defense electronics solutions provider catering to the indigenously developed defense products industry in India. The company'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 IIOT, and embedded/FPGA designs.
The company's business model for digital transformation focuses on four main services:
The company's product list includes Combat Management Systems, C4I Systems, Anti-Drone Command and Control Systems, Air Defence Subsystems, Integrated Platform Management Systems and Integrated Vessel Management Systems.
Competitive strengths:
As of October 30, 2024, the company employed 190 employees.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 110.58 | 85.84 | 18.50 | 9.03 |
| Total Income | 43.25 | 41.30 | 8.07 | 0.35 |
| Profit After Tax | 9.73 | 12.28 | 2.88 | -2.38 |
| NET Worth | 86.19 | 76.46 | 2.52 | -1.37 |
| Reserves and Surplus | 68.65 | 0.97 | ||
| Total Borrowing | 13.29 | 9.45 | 5.55 | |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of capital expenditure towards purchase of fixed assets (both hardware and software) for our existing operations (the upgradation of the existing Experience Centre and set up of Training Centre at Bengaluru) and the proposed set up of Experience Centre at Dubai | 14.73 |
| 2 | Towards fit-outs at the new premises at Bengaluru | 4.58 |
| 3 | Payment of Security Deposit for the new premises at Bengaluru | 1.60 |
| 4 | To fund the working capital requirements of the Company; and | 46.00 |
| 5 | To fund expenditure towards general corporate purposes. | 24.71 |
| Total | 91.62 |
| KPI | Sep 30, 2024 |
|---|---|
| Debt/Equity | 0.15 |
| RoNW | 11.29% |
| PAT Margin | 22.51% |
| Price to Book Value | 3.62 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.02 | 11.69 |
| P/E (x) | 22.56 | 19.33 |
| Promoter Holding | 55.29% | 40.73% |
| Market Cap | ₹376.09 Cr. |
The C2C Advanced Systems IPO is subscribed 125.35 times on November 26, 2024 6:20:00 PM (Day 3). The public issue subscribed 132.73 times in the retail category, 31.61 times in the QIB category, and 233.13 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 31.61 | 8,32,800 | 2,63,25,000 | 50 |
| NII* | 233.13 | 6,24,600 | 14,56,11,000 | 37,265 |
| Retail | 132.73 | 14,57,400 | 19,34,44,800 | 3,22,408 |
| Total | 125.35 | 29,14,800 | 36,53,80,800 | 3,59,723 |
Total Application : 3,59,723
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers Fee including Underwriting Commission, Brokerage and Selling Commission | 5.80 |
| 2 | Fees payable to Market Maker to the Issue | 0.10 |
| 3 | Fees payable to the Registrar to the Issue | 0.30 |
| 4 | Fees Payable for Advertising and Publishing Expenses | 0.36 |
| 5 | Fees Payable to Regulators including Stock Exchanges | 0.40 |
| 6 | Payment for Printing & Stationery, Postage, etc. | 0.10 |
| 7 | Fees Payable to Statutory Auditor, Legal Advisors and other Professionals | 0.14 |
| 8 | Others (Commission/processing fee for SCSBs, Sponsor Bank and Banker(s) to the Issue and brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs and Miscellaneous Expenses) | 0.25 |
Update to the Notice NSE/LIST/3837E dated November 25, 2024
Date: 25th Nov 2024
Dear Investor,
"We refer to the directions received from National Stock Exchange of India Limited ("NSE"), vide letter no. NSE/LIST/3837E dated November 25, 2024. Accordingly, the issuer company is giving an option to withdraw the application from this IPO. Please contact your broker/ASBA banker through whom the bid was placed. This email is to be read along with the Red Herring Prospectus dated November 11, 2024, corrigendum dated November 20, 2024, and November 24, 2024.
Procedure for withdrawal of application/bid:
Step 1: Investor to approach the Designated Intermediary for withdrawal of its application/bid;
Step 2: Designated Intermediary to acknowledge the request received from the investors;
Step 3: Designated Intermediary based on the request received to cancel the bid on the National Stock Exchange of India Limited ("NSE") Portal;
Step 4: Designated Intermediary to receive the acknowledgement (TRS slip) received from NSE, as required.
For online applications you can contact customer care/helpline numbers of respective service providers.
We request you provide the following details of Sole / First Bidder or Applicant:
Name
Application No
PAN
Mobile No
Email ID
No of Shares applied for
Bank Name
You can also mention the details of your broker/bidder, in case you are not able to place your bid (withdrawal) on their platform.
Your reply with the above details should be addressed to us at our email, c2csmeipo@linkintime.co.in and in the subject line please mention PAN Number of the sole / first bidder/applicant with the wording withdrawal. It should read us XXXXX1234F -Appl. No. XXXXXXXX Withdrawal request".
In case if any further clarifications or details are required please contact on c2csmeipo@linkintime.co.in, smeipo@markcorporateadvisors.com, investorgrievance@markcorporateadvisors.com and ig@beelinemb.com.
Last day for withdrawal of application/bids: Thursday, November 28, 2024 before 3:00 PM.
C2C IPO Update
Date: 25 Nov 2024
Sebi has asked company for three action points:
IPO listing will be postponed till independent auditor submits report to NSE/SEBI.
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹226.00 |
| Open | ₹429.40 |
| Low | ₹429.40 |
| High | ₹450.85 |
| Last Trade | ₹450.85 |
Lead Manager Reports
C2C Advanced Systems IPO is a SME IPO of 43,83,600 equity shares of the face value of ₹10 aggregating up to ₹99 Crores. The issue is priced at ₹226 per share. The minimum order quantity is 600.
The IPO opens on Fri, Nov 22, 2024, and closes on Tue, Nov 26, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in C2C Advanced Systems IPO using UPI as a payment gateway. Zerodha customers can apply in C2C Advanced Systems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in C2C Advanced Systems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The C2C Advanced Systems IPO opens on Fri, Nov 22, 2024 and closes on Tue, Nov 26, 2024.
C2C Advanced Systems IPO lot size is 600, and the minimum amount required for application is ₹1,35,600.
You can apply in C2C Advanced Systems IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for C2C Advanced Systems IPO will be done on Friday, November 29, 2024, and the allotted shares will be credited to your demat account by Mon, Dec 2, 2024. Check the C2C Advanced Systems IPO allotment status.
The C2C Advanced Systems IPO listing date is on Tue, Dec 3, 2024.
