C2C Advanced Systems IPO: The allotment status of Rs 99.07 crore SME IPO is finally out and investors can review the status of their application online. The latest grey market premium (GMP) of the IPO signals a whopping 106% premium listing. C2C is likely going to be listed on December 4th.
C2C Advanced Systems IPO Allotment Status:
There are two ways to check the allotment status in C2C Advanced IPO. One is via the NSE website and the other is the registrar of the IPO, Link Intime.
To Check the Status Of the Application Through Link Intime, Click On The Link Below:
Step 1: Once the link opens. You will be directed to a page. There will be an option of 'Select Company', under which, click on C2C Advanced Systems Limited - SME IPO.
Step 2: Select either option of the 'PAN card', 'Application No', DP/Client ID, Account No, Or IFSC code to review the application status.
Step 3: After feeding either of the options, click on SUBMIT. The status of your application should appear eventually.
Initially, it was predicted that the allotment of C2C Advanced would take place on November 29. However, the latest update by NSE indicated that the withdrawal option window was extended to be open on November 29 from earlier.
Last week, in a notification, NSE said "As informed by SEBI, it has been decided to extend the withdrawal window option for SME IPO of C2C Advanced Systems Limited by 1 day for all Members/ Banks who have received withdrawal applications till November 28, 2024, by 5.00 PM. Accordingly, Members/Banks may upload their withdrawal application on November 29, 2024, between 10.00 AM to 5.00 PM on the exchange e-IPO system."
That being said, the allotment and listing date were further delayed in the C2C Advanced IPO.
C2C Advanced Systems IPO GMP:
As per Investor Grain, C2C Advanced Systems SME IPO last GMP is ₹240, last updated Dec 3rd 2024 05:03 AM. With a price band of 226.00, C2C Advanced Systems SME IPO's estimated listing price is ₹466 (cap price + today's GMP). The expected percentage gain/loss per share is 106.19%.
After allotment status, the initiation of refund and credit of shares will take place on December 3rd, and the listing is most likely to happen on December 4th.
As per Bajaj Broking's blog, the company features a diversified range of products and a focus on research and development, alongside its ongoing expansion efforts. While there are market risks to consider, the company's positioning within the defence solutions landscape reflects potential areas of growth and interest.
Why investors are withdrawing funds from C2C Advanced IPO?
Sebi directed C2C Advanced to appoint independent auditors to review its financial accounts. Accordingly, NSE received the instruction to monitor the utilisation of C2C Advanced IPO funds by overseas investors. Amidst this, C2C had opened a withdrawal window for investors across categories with the option to withdraw their funds.
As per the latest data on NSE, as many as 81,299 applications have been withdrawn by retail investors, while the quantity withdrawn by them is about 4,87,79,400 equity shares. Further, the 12,845 applications of non-institutional investors were pulled out with the quantity being 4,44,70,200 equity shares. Meanwhile, only 9 applications of qualified institutional buyers were pulled out from the IPO, with the withdrawal quantity being at 43,30,800 equity shares. These were withdrawal data till November 29.
C2C Advanced Systems IPO Details:
The IPO worth Rs 99.07 crore opened for subscription on November 22, and closed on November 26. The IPO was entirely fresh issue, and its price band was fixed at Rs 214 to Rs 226 per share. On the last day of the bidding, C2C IPO bagged massive bidding to the tune it was oversubscribed by 125.35x. Among the investors, non-institutional category oversubscribed by 233.13 times, followed by retail investors portion oversubscribing by 132.73 times and that of qualified institutional buyers subscribed by 31.61 times.
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