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C2C Advanced Systems IPO
Price Band
₹214.0–226.0
Issue Size
₹99.07 Cr
Lot Size
600 shares
Min Investment
₹135,600
GMP
+₹240.0 (106.19%)
Issue Price
₹226.0
Subject to Sauda
₹109400
Paid only if allotted
C2C Advanced Systems IPO AI Summary
- C2C Advanced Systems IPO is listed on NSE SME in the Aerospace & Defense sector.
- Price band: ₹214.0–₹226.0 per share, lot size 600 shares (min. investment ₹135,600).
- Subscription window: 22 Nov–26 Nov 2024, listing on 03 Dec 2024.
- Current GMP is +₹240.0 (106.19%), an estimated listing price of ₹466 — unofficial and can change daily.
C2C Advanced Systems Limited is a defense electronics provider with a focus on innovation and government initiatives. The IPO aims to raise funds for capital expenditures and working capital, with a strong performance trend in revenue and profits leading up to the offering.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
C2C Advanced Systems IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 26 Nov 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
C2C Advanced Systems IPO Grey Market Premium (GMP) Today
GMP
+₹240.0
GMP %
+106.19%
Est. Listing
₹466.0
Updated: 25 Jul 2026 14:03
About the Company
C2C Advanced Systems Limited, formerly known as C2C – DB Systems Private Limited, incorporated in 2018, is a vertically integrated defense electronics solutions provider catering to the indigenously developed defense products industry in India. The company's core competencies include C4I systems for effective situational awareness and decision support, AI/ML based big data analytics, enterprise integration of real-time data from IIOT, and embedded/FPGA designs. The company's business model for digital transformation focuses on four main services: Virtual Supply Chain: The company provides software development based on real-time and continuous data provided by various sensors, generating usable data that is immediately actionable. Virtual logistics: The company delivers using commercial off-the-shelf (COTS) electronic boards and complex engineering to integrate and deliver in an engineered enclosure that can withstand harsh environmental conditions (subsystems) Virtual Maintenance: The company integrates various subsystems to deliver systems that extract real-time data and create situational awareness for defense leadership to take action (systems). Application of AI/ML technologies in all offerings and as standalone product development and engineering. The company's product list includes Combat Management Systems, C4I Systems, Anti-Drone Command and Control Systems, Air Defence Subsystems, Integrated Platform Management Systems and Integrated Vessel Management Systems. Competitive strengths: A broad range of products and solutions for defense applications Strong R&D capabilities with a focus on innovation Well positioned to benefit from the government initiatives “Atmanirbhar Bharat” and "Make in India" Strong relationships with a diverse and global customer base Experienced management team As of October 30, 2024, the company employed 190 employees.
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 110.58 | 85.84 | 18.50 | 9.03 |
| Total Income | 43.25 | 41.30 | 8.07 | 0.35 |
| Profit After Tax | 9.73 | 12.28 | 2.88 | -2.38 |
| NET Worth | 86.19 | 76.46 | 2.52 | -1.37 |
| Reserves and Surplus | 68.65 | 0.97 | ||
| Total Borrowing | 13.29 | 9.45 | 5.55 |
Key Ratios
EPS
₹10.02
NAV
₹70.31
RoNW
11.29%
P/B Value
3.62
P/E Ratio
22.56
Market Cap
₹376.09 Cr
PAT Margin
22.51%
Debt/Equity
0.15
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Paras Defence and Space Technologies Limited | 105.87 | 8.29% | 116.89 | 8.77 | 8.77 |
| C2C Advanced Systems Limited This IPO | 62.38 | 16.06% | 22.56 | 15.85 | 15.85 |
Promoters
C2C Innovations Pvt.Ltd., PVR Multimedia Pvt.Ltd., Lakshmi Chandra, Maya Chandra, Subrahmanya Srinivasa Narendra Lanka, Kuriyedath Ramesh and Murtaza Ali Soomar
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of capital expenditure towards purchase of fixed assets (both hardware and software) for our existing operations (the upgradation of the existing Experience Centre and set up of Training Centre at Bengaluru) and the proposed set up of Experience Centre at Dubai 14.73 2 Towards fit-outs at the new premises at Bengaluru 4.58 3 Payment of Security Deposit for the new premises at Bengaluru 1.60 4 To fund the working capital requirements of the Company; and 46.00 5 To fund expenditure towards general corporate purposes. 24.71 Total 91.62
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹8.07 Cr in the year ending 31 Mar 2023, rising to ₹41.30 Cr by 31 Mar 2024, and further increasing to ₹43.25 Cr by 30 Sep 2024.
Profit Trend
Profit after tax was ₹2.88 Cr in the year ending 31 Mar 2023, increasing to ₹12.28 Cr by 31 Mar 2024, though this is a 6-month figure, not a full year, so isn't directly comparable. By 30 Sep 2024, profit after tax was ₹9.73 Cr.
Valuation
C2C Advanced Systems has an implied P/E of 22.56 at the issue price, compared to peers like Paras Defence and Space Technologies Limited, which has a P/E of 116.89. This suggests that C2C is priced at roughly 0.19 times the trailing earnings of its peer group.
Grey Market Premium, Explained
The grey market premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before its official listing. A positive GMP suggests that the stock may list at a premium to its issue price, while a negative GMP may indicate a potential discount.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid IPOs like this, which can be more volatile and speculative. Those not familiar with the defense sector or the specific risks associated with it should also consider their investment strategy carefully.
IPO Timeline, Explained
The IPO opens for subscription on November 22, 2024, and closes on November 26, 2024. The allotment date is set for November 29, 2024, with shares expected to list on December 3, 2024.
Listing Gains — The Risk
Listing gains are not guaranteed and depend on market conditions at the time of listing. Investors should be aware that while some IPOs may experience significant gains on their first day of trading, others may not perform as well, and prices can fluctuate based on broader market trends.
This evaluation is generated from C2C Advanced Systems's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is C2C Advanced Systems IPO GMP today?
C2C Advanced Systems IPO GMP today is +₹240.0 (106.19%), indicating an estimated listing price of ₹466. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of C2C Advanced Systems IPO?
The price band of C2C Advanced Systems IPO is ₹214.0–₹226.0 per share.
When does C2C Advanced Systems IPO open and close?
C2C Advanced Systems IPO opens on 22 November 2024 and closes on 26 November 2024.
When does C2C Advanced Systems IPO list on the stock exchange?
C2C Advanced Systems IPO listed on 03 December 2024 at ₹466.0.
What is the lot size for C2C Advanced Systems IPO?
The lot size for C2C Advanced Systems IPO is 600 shares, requiring a minimum investment of ₹135,600.
What is the lot size for this IPO?
The lot size for C2C Advanced Systems IPO is 600 shares.
What is the minimum investment required?
The minimum investment required is ₹135,600.
What is the price band for the IPO?
The price band for the IPO is between ₹214.0 and ₹226.0.
When is the listing date for the IPO?
The listing date for the IPO is December 3, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount of the stock's listing price compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
22 Nov 2024
Close
26 Nov 2024
Allotment
29 Nov 2024
Listing
03 Dec 2024
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