Fri Nov 22 14:54:25 UTC 2024: ## C2C Advanced Systems IPO Oversubscribed on Day 1

**MUMBAI, INDIA – November 22, 2024** – The Initial Public Offering (IPO) of C2C Advanced Systems opened today and has witnessed an overwhelming response from investors. By 11:58 AM IST, the IPO was oversubscribed by approximately 10 times, according to NSE data. The company received bids for 28,674,600 shares against the offered 3,134,400 shares. The IPO, priced at ₹226 per share, remains open for subscription until November 26th.

The strong investor interest is further fueled by the company’s grey market premium (GMP). Investorgain.com reports a GMP of ₹245, suggesting a potential listing price of ₹471 – a significant 110% return on the IPO price on day one. C2C Advanced Systems aims to raise ₹99.07 crore through this IPO. The minimum investment for retail investors is ₹135,600 for a lot of 600 shares. The company has already secured ₹28.23 crore from anchor investors. The allotment is scheduled for November 27th, with a potential listing date of November 29th.

C2C Advanced Systems plans to utilize the IPO proceeds for fit-outs in new premises in Bengaluru and Dubai, security deposits for new facilities in Bengaluru, Karnataka, and working capital requirements.

**(Note: The original text contained some inconsistencies regarding the price band and amount raised. This news article uses the most consistent figures provided.)**

Read More