Tue Nov 26 12:41:16 UTC 2024: ## C2C Advanced Systems IPO Oversubscribed by Over 108 Times on Day 2
**MUMBAI, INDIA – November 26, 2023** – The Initial Public Offering (IPO) of C2C Advanced Systems has received an overwhelming response, closing its second day of subscription with over 108 times oversubscription. The IPO, which opened on November 22nd and closes on November 26th, is priced between ₹214 and ₹226 per share.
By 5:00 PM on November 25th, the second day of bidding, C2C Advanced Systems IPO had received bids for 31,35,98,400 shares against the offered 29,14,800 shares. The breakdown shows strong interest across investor categories: Qualified Institutional Buyers (QIBs) subscribed 6.00 times, Non-Institutional Investors (NIIs) subscribed 123.29 times, and Retail Individual Investors (RIIs) subscribed a staggering 158.91 times. The IPO had already garnered over 26.84 times oversubscription on its first day.
According to Investorgain.com, the IPO enjoys significant grey market demand, with shares trading at a ₹245 premium in the unlisted market, suggesting a potential listing price of ₹471. This indicates a potential 109% gain for investors upon listing, expected on November 29th on the National Stock Exchange of India (NSE).
Lakshmi Chandra, Chairperson and Managing Director of C2C Advanced Systems Limited, stated that the funds raised will strengthen the company’s working capital, support strategic goals, expand its customer base, and aid its growing clientele. C2C Advanced Systems specializes in developing complex systems for the defense, homeland security, and aerospace sectors.
First Piper 