Fri Nov 22 14:54:27 UTC 2024: ## C2C Advanced Systems IPO Oversubscribed Nine Times

**MUMBAI, INDIA** – The initial public offering (IPO) of C2C Advanced Systems has received an overwhelming response from investors, with subscriptions exceeding expectations by a significant margin. According to the NSE, the IPO was oversubscribed by 9.15 times by Friday morning, with bids for 286,746,000 shares against the company’s offering of 31,34,400 shares.

The strong investor interest is also reflected in the grey market, where the company’s unlisted shares are trading at a premium of ₹245, representing a 108.41% Grey Market Premium (GMP) over the upper price band of ₹226. The IPO aims to raise ₹99.07 crore at the upper price band of ₹216 per share.

C2C Advanced Systems, a leading provider of defense electronics solutions in India, plans to utilize the IPO proceeds to strengthen its existing operations. This includes upgrading its Bengaluru experience center, building a new training center, establishing a new experience center in Dubai, and funding fit-outs in these new premises. A portion will also be allocated to working capital and general corporate expenses. The company had already raised ₹28.23 crore from anchor investors on November 21, 2024.

The IPO’s registrar is Link Intime India, while Mark Corporate Advisors and Beeline Capital Advisors are the book-running lead managers. C2C Advanced Systems focuses on developing indigenous defense products, offering hardware, software, firmware, and mechanical systems for air and sea platforms. The company emphasizes its commitment to boosting self-reliance in India’s defense sector.

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