C2C Advanced Systems: C2C Advanced Systems’ share has steadily risen since its listing. Share of the company rose by 10 percent on Wednesday, reaching a 52-week high price at Rs 845.95.
On December 3, this month, the company’s share was listed on NSE SME Emerge at Rs 429.40, a 90 percent discount. It has risen 275 percent since its IPO and is now worth Rs 1407.76 Crore.
What is the Detail?
Initial interest in C2C Advanced Systems’ IPO was high. C2C Advanced Systems specializes in aerospace and defense solutions.
Investors bid 36.56 crore shares for C2C Advanced Systems IPO, while there were only 29.15 lakh shares available. C2C Advanced Systems IPO of Rs 99 crores was a failure later.
SEBI’s actions led to the withdrawal of more than 3.72 lakh applications, worth Rs 27 crore. The price range of the share was Rs 214 to Rs 226.
The IPO took place from 22 November until 26 November.
SEBI instructed the company on the second day after the IPO to appoint a third-party auditor to review its financial statements.
The regulator also asked the National Stock Exchange to establish a monitoring agency that would monitor the use of the funds raised by the IPO.
Quick Fact
| Company name | C2C Advanced Systems |
|---|---|
| Share listing price | ₹429.40 |
| IPO price range | ₹214 – ₹226 |
| IPO period | 22 November – 26 November |
| IPO size | ₹99 crore |
| Shares available in IPO | 29.15 lakh |
| Shares bid during IPO | 36.56 crore |
| Market capitalization | ₹1407.76 crore |
| Business focus | Aerospace and defense solutions |
| IPO performance | Rose up to 275% from IPO price |
| Possible target price | Not mentioned in the article |
| SEBI action | Third-party audit required |
| SEBI monitoring | Agency to monitor IPO fund use |
Disclaimer: The website and its content are for informational purposes only and should not be considered investment advice.
