Tue Nov 26 04:10:00 UTC 2024: ## SEBI Intervention Sends C2C Advanced Systems IPO into Freefall

**MUMBAI, INDIA** – The initial public offering (IPO) of C2C Advanced Systems, a defense solutions provider, has experienced a dramatic downturn following intervention from the Securities and Exchange Board of India (SEBI). The company’s grey market premium (GMP), a key indicator of anticipated listing gains, plummeted by nearly 60% in just two days, from Rs 245 to Rs 100.

This sharp decline followed SEBI’s directive on November 25th, prompted by an investor complaint, ordering C2C Advanced Systems to appoint independent auditors and obtain an independent review of its financial accounts. The regulator’s action has fueled investor anxiety, leading to widespread concerns on social media.

In response, C2C Advanced Systems issued a corrigendum allowing all non-anchor investors to withdraw their applications until 3 PM on November 28th. The IPO, aiming to raise Rs 99.07 crore at a price band of Rs 214-226 per share, was initially expected to list on the NSE Emerge platform on November 29th. However, market sources now suggest potential delays due to the SEBI intervention.

The IPO had initially attracted significant interest, with investors anticipating substantial listing gains. The SEBI action and subsequent GMP drop cast considerable doubt on the future of the offering. Investors are advised to exercise caution and seek professional advice before making any investment decisions.

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