Fri Nov 22 23:15:28 UTC 2024: **C2C Advanced Systems to Launch IPO at ₹214-226 per Share**

**MUMBAI, INDIA** – Defence electronics firm C2C Advanced Systems will launch its initial public offering (IPO) on Friday, November 22nd, closing on Tuesday, November 26th. The company, which provides solutions for India’s indigenously developed defence products industry, has set the IPO price band between ₹214 and ₹226 per share. The IPO comprises a fresh issue of 4,383,600 equity shares, raising ₹99.07 crore. There is no offer for sale component.

The company, which boasts a 412% revenue increase and a 327% profit after tax rise in FY24 compared to FY23, will utilize IPO proceeds for capital expenditure, including the renovation of its Experience Center and establishment of a Training Center in Bengaluru, and a new Experience Center in Dubai. Funds will also be allocated to fit-outs at new locations, security deposits, working capital, and general corporate purposes.

The minimum bid size is 600 shares, and bids must be in multiples of 600 thereafter. Mark Corporate Advisors Private Limited and Beeline Capital Advisors Pvt Ltd are the book running lead managers, with Link Intime India Private Ltd serving as registrar and Spread X Securities as market maker.

A strong grey market premium (GMP) of ₹245 suggests significant investor interest. Based on the upper price band and the GMP, the estimated listing price is ₹471, a 108.41% increase over the IPO price. However, investors are cautioned to conduct their own thorough due diligence before making any investment decisions.

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