C2C Advanced Systems, a key player in India’s defense technology sector, is gearing up to open its Initial Public Offering (IPO) for subscription on November 22, 2024. This Small and Medium Enterprise (SME) IPO aims to raise ₹99.07 crores through a fully fresh issue of 43.84 lakh shares, with the price band set between ₹214 and ₹226 per share. The IPO will close on November 26, 2024, and is expected to list on NSE SME on November 29, 2024.
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Founded in 2018 as C2C – DB Systems Private Limited, C2C Advanced Systems Limited specializes in high-end technology solutions tailored for defense, security, and aerospace applications. Leveraging cutting-edge innovations and advanced electronics, C2C is a trusted name in defense systems across India. The company’s core expertise lies in the development of C4I systems, which enhance situational awareness and decision support. Through the application of AI/ML-based big data analytics, integration of real-time IIoT data, and FPGA/embedded designs, C2C Advanced Systems is well-equipped to drive the digital transformation of defense capabilities.
Overview of Contents
C2C Advanced Systems IPO Overview
| Detail | Information |
|---|---|
| IPO Price Band | ₹214 - ₹226 per share |
| Minimum Lot Size | 600 shares |
| Minimum Investment (Retail) | ₹135,600 |
| HNI Minimum Investment | 1,200 shares (2 lots), totaling ₹271,200 |
| Issue Size | ₹99.07 crores (via fresh issue) |
| Listing Date | Tentatively November 29, 2024 (NSE SME) |
| IPO Opening Date | November 22, 2024 |
| IPO Closing Date | November 26, 2024 |
| IPO Allotment Date | November 27, 2024 |
| Tentative Listing Date | November 29, 2024 |
IPO Lot Size
Investors must bid for a minimum of 600 shares, with additional bids made in multiples of this lot size. The table below outlines the minimum and maximum investment limits for retail investors and HNIs, both in terms of the number of shares and the investment amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹135,600 |
| Retail (Max) | 1 | 600 | ₹135,600 |
| HNI (Min) | 2 | 1,200 | ₹271,200 |
C2C Advanced Systems IPO GMP
Stay updated with the latest Grey Market Premium (GMP) trend for the C2C Advanced Systems IPO. Here’s a snapshot of today’s movement:
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 26-11-2024 Close | 226.00 | ₹170 Todays Movement - GMP No Change | 77500 | ₹396 (75.22%) | 26-Nov-2024 11:31 |
| 25-11-2024 | 226.00 | ₹170 Todays Movement - GMP Down | 77500 | ₹396 (75.22%) | 25-Nov-2024 2:26 |
| 24-11-2024 | 226.00 | ₹245 Todays Movement - GMP No Change | 111700 | ₹471 (108.41%) | 24-Nov-2024 2:26 |
| 23-11-2024 | 226.00 | ₹245 Todays Movement - GMP No Change | 111700 | ₹471 (108.41%) | 23-Nov-2024 12:25 |
| 22-11-2024 Open | 226.00 | ₹245 Todays Movement - GMP No Change | 111700 | ₹471 (108.41%) | 22-Nov-2024 12:31 |
| 21-11-2024 | 226.00 | ₹245 Todays Movement - GMP No Change | 111700 | ₹471 (108.41%) | 21-Nov-2024 2:25 |
| 20-11-2024 | 226.00 | ₹245 Todays Movement - GMP Up | 111700 | ₹471 (108.41%) | 20-Nov-2024 21:30 |
| 19-11-2024 | 226.00 | ₹225 Todays Movement - GMP No Change | 102600 | ₹451 (99.56%) | 19-Nov-2024 8:29 |
| 18-11-2024 | 226.00 | ₹225 Todays Movement - GMP Up | 102600 | ₹451 (99.56%) | 18-Nov-2024 22:25 |
| 17-11-2024 | 226.00 | ₹220 Todays Movement - GMP No Change | 100300 | ₹446 (97.35%) | 17-Nov-2024 22:29 |
| 16-11-2024 | 226.00 | ₹220 Todays Movement - GMP No Change | 100300 | ₹446 (97.35%) | 16-Nov-2024 22:23 |
| 15-11-2024 | 226.00 | ₹220 Todays Movement - GMP Up | 100300 | ₹446 (97.35%) | 15-Nov-2024 22:32 |
| 14-11-2024 | 226.00 | ₹200 Todays Movement - GMP No Change | 91200 | ₹426 (88.5%) | 14-Nov-2024 22:26 |
Reservation
C2C Advanced Systems IPO comprises a total of 43,83,600 shares, allocated as follows: 8,32,800 shares (19%) for QIBs, 6,24,600 shares (14.25%) for NIIs, 14,57,400 shares (33.25%) for RIIs, and 12,49,200 shares (28.5%) for Anchor Investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 12,49,200 (28.5%) |
| Market Maker Shares Offered | 2,19,600 (5.01%) |
| QIB Shares Offered | 8,32,800 (19%) |
| NII (HNI) Shares Offered | 6,24,600 (14.25%) |
| Retail Shares Offered | 14,57,400 (33.25%) |
| Total Shares Offered | 43,83,600 (100%) |
Promoter Holding
The promoters of C2C Advanced Systems IPO include C2C Innovations Private Limited, PVR Multimedia Private Limited, Lakshmi Chandra, Maya Chandra, Subrahmanya Srinivasa Narendra Lanka, Kuriyedath Ramesh, and Murtaza Ali Soomar. Prior to the IPO, the promoters hold a 56.52% stake in the company. The post-issue shareholding details will be updated after the IPO completion.
Anchor Investors Details
| Bid Date | November 21, 2024 |
|---|---|
| Shares Offered | 1,249,200 |
| Anchor Portion Size (In Cr.) | 28.23 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 27, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 25, 2025 |
Investment Considerations
C2C Advanced Systems is strategically positioned to capitalize on the growing demand for indigenous defense technology solutions. With its robust product offerings, advanced R&D capabilities, and a business model driven by AI and real-time data integration, the company shows strong potential for future growth. This IPO presents an opportunity for investors looking to support and benefit from India’s defense technology sector, especially as the country emphasizes self-reliance in defense manufacturing.
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Investors should evaluate C2C Advanced Systems’ innovative approach and its alignment with national defense initiatives, keeping in mind both the growth potential and the risks associated with the defense sector.
Key Services and Technological Advantages
The company’s business model emphasizes digital transformation across four main areas:
Virtual Supply Chain – Developing software based on real-time data generated by sensors to facilitate immediate, actionable insights.
Virtual Logistics – Integrating commercial off-the-shelf (COTS) electronic boards into engineered enclosures, enabling operations in extreme environments.
Virtual Maintenance – Delivering subsystems that aggregate real-time data, empowering defense leadership with actionable situational awareness.
AI/ML Application – Incorporating artificial intelligence and machine learning into all offerings, enhancing the company’s innovative edge in defense technology.
Product Lineup
C2C Advanced Systems offers a diverse range of products, including Combat Management Systems, C4I Systems, Anti-Drone Command and Control Systems, Air Defense Subsystems, Integrated Platform Management Systems, and Integrated Vessel Management Systems.
Competitive Strengths
The company’s competitive advantages include:
- Broad Product Range: Specialization in various defense applications
- Strong R&D Focus: Innovation-driven approach for sustained growth
- Supportive Government Initiatives: Benefiting from “Atmanirbhar Bharat” and “Make in India” policies
- Global Clientele: A wide-ranging, international customer base
- Experienced Leadership: A management team with extensive expertise in the sector
Financial Information
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 11,058.01 | 8,583.51 | 1,849.78 | 903.18 |
| Revenue | 4,324.97 | 4,129.82 | 806.73 | 34.79 |
| Profit After Tax | 972.99 | 1,227.69 | 287.52 | -238.21 |
| Net Worth | 8,618.72 | 7,645.73 | 252.14 | -136.57 |
| Reserves and Surplus | 6,864.52 | 96.69 | ||
| Total Borrowing | 1,329.02 | 944.74 | 554.77 |
Conclusion
C2C Advanced Systems’ IPO, set to open on November 22, 2024, offers investors a chance to invest in a promising defense technology company aligned with India’s “Atmanirbhar Bharat” initiative. With a price band of ₹214-₹226 per share and a fresh issue of ₹99.07 crores, C2C brings strong R&D capabilities and a broad defense product range to the market. The IPO appeals to investors seeking long-term growth in defense and technology, with listing scheduled for November 29, 2024. However, investors should consider both the company’s growth potential and sector-related risks.