Tue Nov 26 04:10:00 UTC 2024: **C2C Advanced Systems IPO Oversubscribed, Sets Listing Date**

**BENGALURU, INDIA – November 26, 2023** – C2C Advanced Systems Limited’s initial public offering (IPO) has been massively oversubscribed, closing its three-day run with a staggering 107.43 times oversubscription. The IPO, which offered shares at ₹214-₹226, concluded on Tuesday, November 26th.

Strong demand was seen across all investor categories, with retail investors subscribing 158.62 times, non-institutional investors 123.21 times, and qualified institutional buyers 6 times. The company aimed to raise ₹99.07 crore through the issuance of 4,383,600 fresh equity shares – there was no offer for sale component.

The funds raised will be used for expansion, including capital expenditures for renovating an existing Experience Center and establishing a new Training Center and Experience Center in Bengaluru and Dubai, respectively. Additional funds will cover fit-outs, security deposits, working capital, general corporate purposes, and issue expenses.

The company, a provider of defense electronics solutions, has seen significant pre-IPO interest reflected in a grey market premium (GMP) of ₹245, suggesting a potential listing price of ₹471, a 108 percent increase over the IPO price. The allotment is expected on November 27th, with shares credited to investor Demat accounts and refunds issued on November 28th. The company is expected to list on the stock exchanges on Friday, November 29th. Retail investors could bid for a minimum of 600 shares (₹1,35,600), while high net worth individuals (HNIs) required a minimum investment of two lots (₹2,71,200).

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