C2C Advanced Systems is set to launch its Initial Public Offering (IPO) with a total issue size of ₹99.07 crore. This IPO consists entirely of a fresh issue of 43.84 lakh equity shares.
Key Dates for the C2C Advanced Systems IPO:
- Subscription Opens: November 22, 2024
- Subscription Closes: November 26, 2024
- Allotment Date: November 27, 2024
- Listing Date: November 29, 2024 (tentative)
- Stock Exchange for Listing: NSE SME
Price Band:
The price band for the C2C Advanced Systems IPO is set between ₹214 and ₹226 per share.
Investment Details:
- Minimum Lot Size: 600 shares
- Retail Investor Minimum Investment: ₹135,600
- HNI Minimum Investment: 1,200 shares (2 lots) – ₹271,200
Lead Managers & Registrar:
- Book Running Lead Managers: Mark Corporate Advisors Private Limited, Beeline Capital Advisors Pvt Ltd
- Registrar: Link Intime India Private Ltd
- Market Maker: Spread X Securities
C2C Advanced Systems plans to list on the NSE SME platform, with the tentative listing date scheduled for November 29, 2024.
For more detailed information, please refer to the C2C Advanced Systems IPO Red Herring Prospectus (RHP).
C2C Advanced Systems IPO Information
| Details | Information |
|---|---|
| IPO Date | November 22, 2024 to November 26, 2024 |
| Listing Date | Friday, November 29, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹214 to ₹226 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 4,383,600 shares (aggregating up to ₹99.07 Cr) |
| Fresh Issue | 4,383,600 shares (aggregating up to ₹99.07 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 12,257,568 shares |
| Shareholding Post-Issue | 16,641,168 shares |
| Market Maker Portion | 219,600 shares |
| Market Maker | Spread X Securities |
C2C Advanced Systems Schedule (Tentative Dates)
The C2C Advanced Systems IPO will be open for subscription from November 22, 2024, to November 26, 2024.
| Event | Date |
|---|---|
| IPO Open Date | Friday, November 22, 2024 |
| IPO Close Date | Tuesday, November 26, 2024 |
| Basis of Allotment | Wednesday, November 27, 2024 |
| Initiation of Refunds | Thursday, November 28, 2024 |
| Credit of Shares to Demat | Thursday, November 28, 2024 |
| Listing Date | Friday, November 29, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 26, 2024 |
C2C Advanced Systems IPO Lot Size
Investors can place bids for a minimum of 600 shares, with additional bids in multiples of 600. The table below outlines the minimum and maximum investment amounts for retail investors and high-net-worth individuals (HNIs), both in terms of shares and investment value.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹135,600 |
| Retail (Max) | 1 | 600 | ₹135,600 |
| HNI (Min) | 2 | 1,200 | ₹271,200 |
C2C Advanced Systems IPO Promoter Holding
The promoters of the company include C2C Innovations Private Limited, PVR Multimedia Private Limited, Lakshmi Chandra, Maya Chandra, Subrahmanya Srinivasa Narendra Lanka, Kuriyedath Ramesh, and Murtaza Ali Soomar.
| Share Holding Pre-Issue | 56.52% |
| Share Holding Post-Issue |
C2C Advanced Systems IPO – Anchor Investors Details
C2C Advanced Systems has secured ₹28.23 crore from anchor investors for its IPO. The anchor investment bidding will take place on November 21, 2024.
| Details | Information |
|---|---|
| Bid Date | November 21, 2024 |
| Shares Offered | 1,249,200 |
| Anchor Portion Size (In Cr.) | ₹28.23 |
| Anchor Lock-In Period End Date for 50% Shares (30 Days) | December 27, 2024 |
| Anchor Lock-In Period End Date for Remaining Shares (90 Days) | February 25, 2025 |
About C2C Advanced Systems Limited
C2C Advanced Systems Limited, formerly known as C2C – DB Systems Private Limited, was established in 2018. The company is a leading provider of vertically integrated defense electronics solutions, serving the indigenously developed defense products sector in India. C2C Advanced Systems specializes in a range of advanced technologies, including C4I systems for enhanced situational awareness and decision-making, AI/ML-based big data analytics, real-time data integration from IIOT systems, and embedded/FPGA design solutions.
The company’s business model for digital transformation revolves around four key service areas:
- Virtual Supply Chain: C2C Advanced Systems develops software that leverages real-time data from various sensors, transforming it into actionable insights for operational decision-making.
- Virtual Logistics: The company uses commercial off-the-shelf (COTS) electronic boards combined with advanced engineering to integrate and deliver highly durable systems in rugged enclosures designed to withstand extreme environmental conditions.
- Virtual Maintenance: C2C integrates multiple subsystems to create systems that provide real-time data, enabling defense leaders to make informed decisions based on situational awareness.
- AI/ML Solutions: C2C applies AI/ML technologies across all service offerings, as well as in the development of standalone products and systems.
C2C Advanced Systems' product portfolio includes:
- Combat Management Systems
- C4I Systems
- Anti-Drone Command and Control Systems
- Air Defense Subsystems
- Integrated Platform Management Systems
- Integrated Vessel Management Systems
Competitive Strengths:
- A comprehensive range of defense solutions and products
- Robust research and development capabilities with a focus on innovation
- Alignment with government initiatives such as “Atmanirbhar Bharat” and "Make in India"
- Strong relationships with a diverse and global customer base
- Experienced leadership team driving growth and innovation
As of October 30, 2024, C2C Advanced Systems employs a dedicated team of 190 professionals.
C2C Advanced Systems Limited Financial Overview (Restated)
C2C Advanced Systems Limited experienced significant growth, with a 412% increase in revenue and a 327% rise in profit after tax (PAT) for the financial year ending March 31, 2024, compared to the previous year ending March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 11,058.01 | 8,583.51 | 1,849.78 | 903.18 |
| Revenue | 4,324.97 | 4,129.82 | 806.73 | 34.79 |
| Profit After Tax | 972.99 | 1,227.69 | 287.52 | -238.21 |
| Net Worth | 8,618.72 | 7,645.73 | 252.14 | -136.57 |
| Reserves and Surplus | 6,864.52 | 96.69 | ||
| Total Borrowing | 1,329.02 | 944.74 | 554.77 | |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
As of September 30, 2024, the market capitalization of C2C Advanced Systems' IPO stands at ₹376.09 crore.
| KPI | Values |
|---|---|
| Debt/Equity | 0.15 |
| RoNW | 11.29% |
| P/BV | 3.62 |
| PAT Margin (%) | 22.51 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.02 | 11.69 |
| P/E (x) | 22.56 | 19.33 |
Objects of the Issue (C2C Advanced Systems IPO Objectives)
The company plans to use the proceeds from the net issue for the following purposes:
- Capital Expenditure: To fund the purchase of fixed assets, including both hardware and software, for enhancing its current operations. This includes upgrading the existing Experience Centre and setting up a new Training Centre in Bengaluru, as well as establishing a new Experience Centre in Dubai.
- Premises Fit-Outs: To cover the costs associated with the fit-out of new office spaces in both Bengaluru and Dubai.
- Security Deposit: To pay for the security deposit related to the new premises in Bengaluru, Karnataka, India.
- Working Capital: To meet the company’s working capital requirements.
- General Corporate Purposes: To support general corporate needs and other related expenditures.
C2C Advanced Systems IPO Prospectus
C2C Advanced Systems Limited Contact Details
C2C Advanced Systems Limited
No.86, Wings of Eagles, SS Commercial Estate,
Varthur Road, Nagavarapalya Main Road,
C V Raman Nagar, Bengaluru - 560093
Phone: +91 80 4372 4052
Email: compliance@c2c-as.com
Website: http://www.c2c-as.com/
C2C Advanced Systems IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: c2csme.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
C2C Advanced Systems IPO Lead Manager(s)
- Mark Corporate Advisors Private Limited
- Beeline Capital Advisors Pvt Ltd
C2C Advanced Systems IPO Subscription Information
Subscription data will be available once the IPO is open for subscription.
C2C Advanced Systems SME IPO GMP (Grey Market Premium)
As of November 18th, 2024, 09:24 AM, the latest Grey Market Premium (GMP) for the C2C Advanced Systems SME IPO is ₹220. With the IPO's price band set at ₹226.00, the estimated listing price is ₹446 (calculated as the cap price plus today's GMP). This represents an expected potential gain of 97.35% per share.
C2C Advanced Systems SME IPO Retail Subject to Sauda: ₹100,300
We update the GMP daily based on the latest grey market activities. In the past 5 sessions, the GMP has shown an upward trend, suggesting a strong listing for the IPO. The GMP has fluctuated between ₹200 and ₹220 during this period. Stay tuned for updates on the daily price trend and expected listing price.
Note: The GMP data provided here reflects the grey market activity. We do not engage in grey market trading or recommend participation in it.
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 18-11-2024 | 226.00 | ₹225 | 102600 | ₹451 (99.6%) | 18-Nov-2024 16:35 |
| 17-11-2024 | 226.00 | ₹220 | 100300 | ₹446 (97.35%) | 17-Nov-2024 23:22 |
| 16-11-2024 | 226.00 | ₹220 | 100300 | ₹446 (97.35%) | 16-Nov-2024 21:25 |
| 15-11-2024 | 226.00 | ₹220 | 100300 | ₹446 (97.35%) | 15-Nov-2024 21:24 |
| 14-11-2024 | 226.00 | ₹200 | 91200 | ₹426 (88.5%) | 14-Nov-2024 21:24 |
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