Fri Nov 22 19:54:51 UTC 2024: ## C2C Advanced Systems IPO Oversubscribed by 26.84x on First Day
**MUMBAI, INDIA – November 22, 2024** – The initial public offering (IPO) of C2C Advanced Systems, a leading Indian technology company specializing in defense, security, and aerospace systems, has seen explosive demand. The IPO, which opened on Friday with a price band of ₹214 to ₹226 per share, was oversubscribed by a staggering 26.84 times on its first day alone, as of 5:00 PM.
C2C Advanced Systems boasts a strong track record, with revenue surging from ₹8.07 crore in 2023 to ₹41.06 crore in 2024, and profits increasing from ₹2.88 crore to ₹12.28 crore during the same period. The company attributes its success to its innovative “Intelligent Platform” technology and its recent win securing a contract for a Combat Management System (CMS) with the Royal Malaysian Navy. The company is also expanding into the digital transformation sector, leveraging sensor technology in applications like Industry 4.0 and transportation.
The IPO, which closes on November 26th, already shows a significant grey market premium (GMP) of ₹200, indicating a potential market price of ₹426 per share. This strong market response reflects investor confidence in the company’s technological expertise and growth prospects.
First Piper 