A defence electronics solutions provider, C2C Advanced Systems, will open their Rs 99 crore SME IPO on November 22. Comprising of 43.84 lakh shares as fresh, the issue does not have an OFS (offer for sale) component in the IPO (initial public offer).
Offer size and quotas in issue
It is a book-built issue that only consists of the company issuing fresh 43.83 lakh equity shares. The IPO’s price range has been set at Rs 214–226 per share.
The company, which is based in New Delhi and serves the Indian defence products market, has set aside 50 per cent of its net issue size for eligible institutional buyers, 35 per cent for retail investors, and 15 per cent for non-institutional investors.
Price band and minimum bid
The price range for C2C Advanced Systems’ initial public offering is Rs 214 to Rs 226 per share. An investment must include a minimum lot size of 600 shares.
Retail investors must invest a minimum of Rs 1,35,600. For HNI, the minimum lot size investment is two lots comprising of 1,200 shares, amounting to Rs 2,71,200.
Anchor book dates
Anchor investors are expected to contribute Rs 28.23 crore to C2C Advanced Systems’ IPO plans. On November 21, 2024, the C2C Advanced Systems IPO Anchor books will open.
Subscription and listing timetable
Subscriptions for the C2C Advanced Systems IPO will be accepted starting on November 22, 2024, and will end on November 26, 2024.
On Wednesday, November 27, 2024, the allocation for the C2C Advanced Systems IPO is anticipated to be finalised.
The tentative listing date for the C2C Advanced Systems IPO is set for Friday, November 29, 2024, on the NSE SME.
IPO proceeds utilisation
The business will use Rs 66.91 crore of the net issue proceeds to pay for working capital needs, security deposit payments for the new Bengaluru location, fit-outs for the new locations in Dubai and Bengaluru, and the purchase of fixed assets (hardware and software). The remaining money will be utilised for standard business operations.
Company financials
With a profit of Rs 12.3 crore in the fiscal year 2024, a significant increase from Rs 2.9 crore the year before, it demonstrated strong financial performance in the preceding years.
Revenue surged from Rs 8.05 crore in FY23 to Rs 41.06 crore during the same period. During FY25’s April–September quarter, profit was Rs 9.7 crore on revenue of Rs 43.2 crore.
