Fri Nov 22 17:22:36 UTC 2024: ## C2C Advanced Systems IPO Sees Massive Grey Market Premium
**MUMBAI, INDIA** – C2C Advanced Systems, a rising star in the defense electronics sector, is set to launch its Initial Public Offering (IPO), generating significant buzz among investors. The IPO’s grey market premium (GMP) has skyrocketed to approximately 100%, indicating strong investor interest. This contrasts sharply with the NTPC Green Energy IPO, which is ending its bidding period today with a GMP of only ₹1, suggesting limited initial returns.
C2C Advanced Systems’ IPO price band is set at ₹214-₹216 per share, but its GMP has reached ₹225. Investors will need to purchase a lot of 600 shares, requiring a minimum investment of ₹135,600. The company is classified as a Small and Medium Enterprise (SME).
The IPO timeline is as follows: Anchor investor bidding opens on November 21, 2024, with the public offering running from November 22 to 26, 2024. Allotment will be finalized on November 27, 2024, with shares credited to demat accounts on November 28, 2024. Listing on the NSE SME platform is scheduled for November 29, 2024.
The company plans to utilize the IPO proceeds to upgrade its existing experience center, establish a new training center in Bangalore, and build a new experience center in Dubai. Funds will also be allocated to office fixtures and security deposits in Bangalore and Dubai, with the remaining amount earmarked for working capital and general corporate needs.
C2C Advanced Systems has demonstrated strong financial performance in recent years. Net profit in Fiscal Year 2024 (FY24) reached ₹12.27 crore, a 332.04% increase compared to ₹2.87 crore in FY23. This is a significant turnaround from a loss of ₹2.38 crore in FY22. Total revenue in FY24 was ₹41.05 crore, a 410.57% jump from FY23’s ₹8.04 crore. However, total expenses also rose sharply to ₹24.70 crore, a 379.61% increase from FY23. Investors should carefully consider this growth in expenses alongside the revenue increase before investing.
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