rewrite this title and make it good for SEOC2C Advanced Systems GMP climbs post subscription close. Check allotment date and listing date

Despite being under Sebi scrutiny, the IPO of C2C Advanced Systems received robust response from investors with a subscription of over 100 times. The company is likely to finalise the allotment on November 29.

To check the status of C2C Advanced Systems IPO allotment through the registrar, which is Link Intime India in this case, kindly follow the below steps.

Step 1: Visit the Link Intime India website (https://linkintime.co.in/initial_offer/public-issues.html)

Step 2: Select C2C Advanced Systems IPO

Step 3: Enter the PAN details and click search to know the status

C2C Advanced Systems listing date and GMP

C2C Advanced Systems has deferred its listing date to December 3 after a Sebi directive raised concerns over the auditing system of the company. Currently, the GMP rose to Rs 145 from Rs 90 two days ago, which indicates a premium of 64% over the issue price.Also Read: C2C Advanced Systems IPO gets 116x subscription despite bid withdrawal option after Sebi scrutiny

C2C Advanced Systems IPO subscription

The IPO of C2C Advanced received bids for 36.56 crore shares as against a marginal 31 lakh shares on offer, reaching about 116x subscription. The company planned to raise around Rs 99 crore through the issue, which is one of the largest in the SME segment this year.

However, due to the concerns raised by the regulators, investors have been given the option to withdraw their applications. The withdrawal window for all categories will be allowed on November 27 and November 28 between 10:00 am to 5:00 pm.

C2C Advanced Systems specialises in the development of complex systems for defence, homeland security and aerospace sectors. It also delivers bespoke, cutting-edge solutions to all the arms of the defence forces involving the integration of complex weapons and sensors.

The company also offers command and control systems for industrial platforms, focusing on supply chain and logistics virtualization. Its expertise includes system integration, system architecture, software development and testing, which involved delivering a combat management system to the Royal Malaysian Navy.

In FY24, the company achieved a revenue of Rs 41 crore, EBITDA of Rs 18 crore, and a PAT of Rs 12 crore.