C2C Advanced Systems IPO Closed
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Schedule of C2C Advanced Systems
| Issue open date | 22 Nov 2024 |
| Issue close date | 26 Nov 2024 |
| UPI mandate deadline | 26 Nov 2024 (5 PM) |
| Allotment finalization | 02 Dec 2024 |
| Refund initiation | 02 Dec 2024 |
| Share credit | 02 Dec 2024 |
| Listing date | 03 Dec 2024 |
| Mandate end date | 11 Dec 2024 |
| Lock-in end date for anchor investors (50%) | 27 Dec 2024 |
| Lock-in end date for anchor investors (remaining) | 25 Feb 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About C2C Advanced Systems
C2C Advanced Systems Limited, founded in 2018, is a defense electronics solutions provider specializing in indigenously developed products for air and sea defense platforms in India. The company offers solutions such as processors, power systems, radars, embedded software, and firmware, with in-house expertise in design, prototyping, testing, and validation. Key strengths include C4I systems, AI/ML-driven analytics, enterprise data integration, and embedded designs, enabling custom solutions. Its business model focuses on digital transformation, including real-time virtual supply chains, engineered enclosures, and AI/ML technologies. A major achievement is delivering the Combat Management System to the Royal Malaysian Navy, demonstrating its global competitiveness. The company also excels in modernizing legacy systems for the Indian military and exploring applications in Industry 4.0 and transportation, leveraging innovations that meet rigorous military standards.
Financials of C2C Advanced Systems
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹99.07 crores |
| Fresh Issue | ₹99.07 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 46 (46.43%) |
| Purchase of fixed assets (hardware/software) | 14.73 (14.87%) |
| Fit-outs at new Bengaluru and Dubai premises | 4.58 (4.62%) |
| Security deposit for new premises | 1.60 (1.62%) |
| General corporate purposes | 32.16 (32.46%) |
Strengths
- Wide range of products and solutions for defense applications
- Expertise in C4I systems and AI/ML-based analytics
- Strong focus on R&D and innovation in the defense sector
- Alignment with “Atmanirbhar Bharat” and “Make in India” policies
- Ability to manufacture items from the import embargo list
- Diverse global customer base and strong client relationships
- Focus on high-quality, competitively priced products and services
Risks
- High reliance on Government contracts for domestic revenue
- Dependence on limited customers for a significant revenue portion
- Loss or reduction of major customers could affect operations
- High trade receivables and payables days strain liquidity position
- History of net losses impacts financial stability and operations
- Inability to innovate may reduce competitiveness and business growth
Important Announcement
As per the directions from the exchange (NSE), the issuer of the SME IPO C2C Advanced Systems has provided an option for the investors to withdraw the IPO application. If you want to cancel your IPO application for C2C Advanced Systems, you can do it on Kite by following the steps given here.
If the application is above 2 lakhs (HNI application), then please create a ticket here.
Once the IPO application is cancelled, you will get a confirmation via email. The funds will be released in your bank account within 48 hours or by the mandate end date.