C2C Advanced Systems faces several risks in its operations, particularly in maintaining its competitive edge in an increasingly crowded defence market. 
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C2C Advanced Systems faces several risks in its operations, particularly in maintaining its competitive edge in an increasingly crowded defence market. C2C Advanced Systems IPO allotment is likely today. The listing and allotment of C2C Advanced Systems shares have been deferred in the past following a directive from the markets regulator SEBI, which asked C2C Advanced Systems to appoint an independent auditor and file an independent report on its financials. It also asked the company to give option to the investors, including anchor investors, to withdraw their IPO applications if they wish to. Besides, NSE was asked to have a monitoring agency to monitor usage of funds post listing.
The tentative listing date for the IPO was Tuesday, December 3. Despite withdrawals, the IPO is commanding a grey market premium (GMP) of Rs 195 over Rs 226 level, the upper limit of the IPO price band, suggesting 86.28 per cent potential listing pop.
C2C Advanced Systems was scheduled to finalise the basis of allotment on November 27, before it was deferred. "Based on intimation received from Sebi, all investors, other than anchor investors, will have an option to withdraw their bids for ongoing SME IPO of C2C Advanced Systems from November 26 up to November 28 for all categories," a notice last week read.
That said, as per the NSE website, the withdrawal window for C2C Advanced Systems IPO bids got extended by a day till November 29. C2C Advanced Systems told NSE that it had already appointed an independent auditor and the report will be presented in 2-3 days.
The defence solutions provider's SME IPO had received a strong response from the investors during the three-day bidding as it was overall subscribed a solid 125.35 times. The portion reserved for non-institutional investors (NIIs) and retail investors were subscribed 233 times and 133 times, respectively. The portions allocated to qualified-institutional bidders (QIBs) was booked 31.61 times.
Arihant Capital Markets in a pre-IPO note said C2C Advanced Systems faces several risks in its operations, particularly in maintaining its competitive edge in an increasingly crowded defence market.
"Despite its focus on AI/ML-based analytics and precision manufacturing, the company's reliance on government contracts could expose it to fluctuations in defence spending and changes in government policies. Additionally, the emphasis on indigenisation under initiatives like Atmanirbhar Bharat might put pressure on CASL to meet stringent quality and performance standards, potentially increasing costs and straining resources," it said.
The brokerage said any delays in R&D or production capabilities could hinder CASL's ability to meet evolving defence needs, and competition from established global players remains a threat as India continues to open its defence sector to foreign investment.
How to check C2C Advanced Systems IPO allotment status?
Mark Corporate Advisors and Beeline Capital Advisors are the book running lead managers of the C2C Advanced Systems IPO, while Link Intime India is the registrar for the issue. The market maker for C2C Advanced Systems IPO is Spread X Securities and Shares of the company shall be listed on NSE's emerge platform on Friday, November 29.
Investors, who bade for the issue of C2C Advanced Systems, can check the allotment status on the National Stock Exchange (NSE) website:
1) Visit https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
2) Sign up with all the requisite details if you are not register already.
3) Log in with your username and password.
4) Check I am not a robot.
5) Ensure IPO bid details column is checked.
6) Select the symbol/company in the dropdown.
7) Check your PAN number and enter your application number.
8) Hit the 'get data' button and get your allotment status.
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.
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