C2C Advanced Systems IPO: Share Allotment To Be Finalised Soon; GMP Hints 50% Premium Listing; Check

Following the conclusion of the bidding process for the C2C Advanced Systems IPO, investor attention has shifted to the allotment status and the listing timeline. Garnering a massive response, the IPO was oversubscribed by a notable margin, reflecting robust demand across all investor categories. Despite a minor delay in the listing process, the grey market premium (GMP) remains strong, signalling positive sentiment.

Revised Timeline for Allotment and Listing

Initially scheduled for an earlier debut, the C2C Advanced Systems IPO listing was postponed following a directive from the Securities and Exchange Board of India (SEBI) and the National Stock Exchange (NSE). The regulators instructed the company to appoint independent auditors and obtain a financial audit report. As a result, the company offered investors the option to withdraw their bids, which can be done by 3 pm on November 28, 2024.

The IPO allotment is expected to be finalized by November 29, 2024, with the listing likely to occur on or before December 3, 2024.

Subscription Status

The IPO received an overwhelming response from investors, closing with a subscription of 125.35 times. The breakdown of subscription numbers shows non-institutional Investors (NII) calling 233.13 times, retail investors subscribing 132.73 times, and Qualified Institutional Buyers (QIB) bid for 31.61 times the allotted quota.

GMP Insights

The grey market premium (GMP) for C2C Advanced Systems shares stood at Rs 120 as of Wednesday, November 27, 2024. This premium suggests a potential listing price of Rs 346, reflecting a 53% gain over the IPO issue price of Rs 226 per share.

The strong GMP, coupled with high subscription numbers, indicates robust investor sentiment and the potential for impressive listing day gains.

Steps to Check IPO Allotment Status Online

Applicants can easily check their allotment status on the registrar's website, Link Intime India Private Limited. Here's how:
Visit the Link Intime India website.
From the dropdown menu, select "C2C Advanced Systems IPO" once the allotment process is complete.
Choose one of the following options: Application Number, Demat Account, or PAN.
Specify whether the application is ASBA or non-ASBA.
Enter the necessary details and complete the CAPTCHA verification.
Submit the form to view your allotment status.

Key Details of IPO

Issue Size: Rs 99.07 crore
Price Band: Rs 214 to Rs 226 per share
Shares Offered: 43.84 lakh shares, entirely through a fresh issue
Lead Managers: Mark Corporate Advisors Private Limited and Beeline Capital Advisors Pvt Ltd
Registrar: Link Intime India Private Limited

About C2C Advanced Systems Limited

C2C Advanced Systems, previously known as C2C - DB Systems Private Limited, is a vertically integrated defence electronics provider. The company specializes in designing and manufacturing indigenously developed defence solutions for the Indian market, catering to the growing demand for advanced technology in the sector.

The C2C Advanced Systems IPO has already captured the attention of the market with its impressive subscription figures and robust GMP. The delay in listing, while initially a concern, has been well-managed with regulatory compliance, further strengthening investor trust.

As the allotment date approaches, investors eagerly await the announcement, with hopes pinned on a strong listing day debut. With a GMP indicating a potential 53% premium and high interest from NIIs, retail investors, and QIBs, the IPO is expected to deliver significant returns.