C2C Advanced Systems IPO zooms 100% ahead of launch; key details from RHP

As the IPO approaches, here are the key highlights from the C2C Advanced Systems' RHP that every investor should know

C2C Advanced Systems IPO GMP zooms: The grey market premium (GMP) of defense electronics solutions provider C2C Advanced Systems continues to remain uptight ahead of the opening of its initial public offering scheduled for Friday, November 22, 2024. Sources tracking the grey market activities revealed that the unlisted shares of the company were quoted trading at a premium of Rs 225, which translates to a GMP of 99.56  per cent against the upper end of the IPO price. A positive GMP usually indicates favorable demand for the company's IPO.  

 

As the IPO approaches, here are the key highlights from the company's RHP:

 

 

C2C Advanced Systems IPO details

C2C Advanced Systems is an SME IPO, which comprises an entirely fresh issue of 4,383,600 shares, as per the Red Herring Prospectus filed by the company. C2C Advanced Systems IPO will be available at a price band of Rs 214-216, and a lot size of 600 shares. A retail investor would require a minimum of Rs 135,600 to bid for one lot of 600 shares.  

 

C2C Advanced Systems IPO timelines 

Bidding for anchor investors is scheduled to take place on Thursday, November 21, 2024.  The subscription window for public subscription will open on Friday, November 22, 2024, and close on Tuesday, November 26, 2024.  

The basis of allotment is expected be finalised on Wednesday, November 27, 2024, and shares will be credited to demat accounts on Thursday, November 28, 2024.   

C2C Advanced Systems shares are likely to be listed on NSE SME on Friday, November 29, 2024.  

 

C2C Advanced Systems IPO objective  

The company, in its RHP, stated that it intends to utilise the proceeds of the net issue for funding capital expenditure towards the purchase of fixed assets (both hardware and software) for its existing operations, including the upgradation of the existing Experience Centre and the setup of a Training Centre in Bengaluru. It also plans to establish an Experience Centre in Dubai.  

 

C2C Advanced Systems will use the proceeds towards fit-outs at the new premises in both Bengaluru and Dubai, as well as for the payment of the security deposit for the new premises in Bengaluru, Karnataka, India. The remaining proceeds will fund the working capital requirements of the company and expenditures towards general corporate purposes.  

 

C2C Advanced Systems IPO registrar, lead managers 

Link Intime India is the registrar of the C2C Advanced Systems IPO, while Mark Corporate Advisors and Beeline Capital Advisors are the book-running lead managers of the public issue.  

 

C2C Advanced Systems financial details

According to the data available in the RHP, C2C Advanced Systems' profit after tax (PAT) rose to Rs 12.27 crore in FY24, up 332.04  per cent from Rs 2.87 crore reported in FY23. Notably, the company reported a loss of Rs 2.38 crore in FY22.  

 

The company's revenue from operations jumped to Rs 41.05 crore, up 410.57  per cent from Rs 8.04 crore reported in FY23, and 11,973.5  per cent from Rs 0.34 crore reported in FY22.  

 

On the flip side, the company's total expenses also increased to Rs 24.70 crore in FY24, up 379.61  per cent from Rs 5.15 crore reported in FY23, and 801.46  per cent from Rs 2.74 crore reported in FY22.  CHECK HERE

 

About C2C Advanced Systems

C2C Advanced Systems is a vertically integrated defense electronics solutions provider catering to the indigenously developed defense products industry in India. The company has developed several offerings that cater to the entire spectrum of defense platforms, both in the air and sea.  As per the RHP, the company's core competencies include hardware design and development, software design and development, firmware design and development, mechanical design and development, product prototype design and development, functional testing and validation, environmental testing and verification, and engineering services opportunities.