C2C Advanced Systems IPO: A Step Towards Innovation in Defense and Aerospace

C2C Advanced Systems Limited announces its IPO on November 22, 2024, aiming to raise Rs 99.07 Crore. Specializing in defense and aerospace technologies, the funds will support expansion, training centers, and new facilities. The IPO will offer 43,83,600 equity shares at a price band of Rs 214-226 each.

PNN Mumbai (Maharashtra) [India], November 21: C2C Advanced Systems Limited, a leader in the development of sophisticated systems for defense, homeland security, and aerospace, has announced plans to launch its Initial Public Offering (IPO) on November 22, 2024.

The company targets to raise Rs 99.07 Crore, with shares expected to list on the NSE Emerge platform. The IPO comprises 43,83,600 equity shares with a price range set between Rs 214 and Rs 226 per share, each carrying a face value of Rs 10.

The allocation is structured as follows: up to 12,49,200 shares for Qualified Institutional Buyers (QIBs) and up to 8,32,800 shares for retail individuals. Further, no less than 6,24,600 shares are reserved for Non-Institutional Investors, with at least 14,57,400 shares for Retail Individual Investors and 2,19,600 shares for the Market Maker.

Proceeds will finance capital upgrades, install a new Experience Centre and Training Centre in Bengaluru besides a facility in Dubai, and settle deposits at the new premises while addressing working capital and general corporate expenses. The anchor bidding opens on November 21, 2024, and the issue closes on November 26, 2024.

Mark Corporate Advisors Private Limited and Beeline Capital Advisors Private Limited will manage the offering, supported by Link Intime India Private Limited as the registrar.

Lakshmi Chandra, Chairperson and Managing Director, asserts the IPO marks a significant juncture for C2C, enhancing its stature as a leading provider of advanced technology in defense fields, bolstered by the government's push for indigenous defense resources.

With growing prospects in reliable security systems, the funds will fortify working capital, achieving strategic and customer engagement goals whilst expanding reach.

(With inputs from agencies.)