Sat Nov 23 00:03:25 UTC 2024: ## Defence Electronics Firm C2C Advanced Systems IPO Opens Tomorrow, Shows Strong Pre-Listing Interest

**MUMBAI, INDIA – November 21, 2023** – C2C Advanced Systems, a provider of defence electronics solutions, is set to launch its Initial Public Offering (IPO) tomorrow, November 22nd. The ₹99.07 crore (approximately $12 million USD) IPO, consisting entirely of a fresh issue of 43.84 lakh shares, has generated significant buzz in the grey market.

The grey market premium (GMP), an unofficial indicator of expected listing price, currently stands at ₹245, suggesting a potential listing price of ₹471 per share – a 108.41% gain over the upper price band of ₹226. While GMP is purely speculative, this high level indicates strong investor interest.

The IPO will be open for subscription until November 26th, with the allotment expected on November 27th and listing on the NSE SME platform Emerge on November 29th. The price band is set at ₹214 to ₹226 per share, with a minimum investment of ₹1,35,600 for retail investors (600 shares).

C2C Advanced Systems plans to utilize the IPO proceeds for capital expenditure on hardware and software, facility upgrades in Bengaluru and Dubai, security deposits, working capital, and general corporate purposes. The company, incorporated in 2018, is a vertically integrated provider of defence electronics solutions for India’s indigenous defence industry.

Investors are cautioned that IPOs are subject to market risks. Potential investors should consult with financial advisors and carefully review the red herring prospectus before investing. Link Intime India Pvt. Ltd. is the registrar for the offer, while Mark Corporate Advisors Pvt. Ltd. and Beeline Capital Advisors Pvt. Ltd. are the book-running lead managers.

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