Mumbai: C2C Advanced Systems IPO, which opened for subscription on November 22, 2024 (Friday), got oversubscribed within a few hours of its opening. The initial public offering of C2C Advanced received a subscription of 14.85 times, as per the latest data available. The portion for Retail Individual Investors (RIIs) got subscribed 24.26 times, the quota for Qualified Institutional Buyers (QIBs) is yet to fetch any subscription, while the non-institutional investors part got subscribed 12.71 per cent.
C2C Advanced Systems IPO, a book built issue of Rs 99.07 crore, closes for subscription on November 26, 2024. The allotment for the IPO is expected to take place on November 27 while refunds process is likely to begin on November 28. The shares of C2C Advanced Systems IPO will list on NSE SME with a tentative date 29 November. The shares will be credited to the demat accounts of eligible investors on November 28. The IPO price band is set in the range of Rs 214 to Rs 226 per share.
C2C Advanced Systems raised Rs 28.23 crore from anchor investors.
C2C Advanced Systems IPO GMP
C2C Advanced Systems IPO GMP stood at Rs 245, according to the InvestorGain. The grey market price indicates a strong listing for the IPO shares at Rs 471 apiece, indicating a gain of over 108 per cent. The grey market premium is not an official figure but a price at which an IPO is traded in an unofficial market prior to its listing. It is an indication how a particular company’s shares might debut on the day of listing.
The company has stated that the proceeds from the IPO will be used for purchasing of Fixed Assets (both hardware and software) for the existing operations and Dubai Experience Centre, towards Fit-outs at new premises at Bengaluru and Experience Centre at Dubai, towards security deposit for the new premises at Bengaluru, funding the working capital requirement of the company and general corporate purposes.
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