C2C Advanced Systems to Launch IPO, Aiming to Raise Rs 99.07 Crore
C2C Advanced Systems Limited has announced the launch of its Initial Public Offering (IPO) on November 22, 2024. The company plans to raise Rs 99.07 crore through the issuance of 43,83,600 equity shares, which will be listed on the NSE Emerge platform. The shares are priced between Rs 214 and Rs 226, with a face value of Rs 10 each.
The IPO allocation is divided as follows:
- Up to 12,49,200 shares for Qualified Institutional Buyers (QIBs).
- Up to 8,32,800 shares for Non-Institutional Investors.
- At least 14,57,400 shares for Retail Individual Investors.
- 2,19,600 shares reserved for the Market Maker.
Proceeds from the IPO will be used for various purposes, including capital upgrades, setting up an Experience Centre and Training Centre in Bengaluru, establishing a facility in Dubai, and meeting working capital needs. A portion will also be allocated for general corporate expenses and deposits for new premises.
Anchor bidding for the IPO will begin on November 21, 2024, with the issue closing on November 26, 2024.
Mark Corporate Advisors Private Limited and Beeline Capital Advisors Private Limited are managing the IPO, with Link Intime India Private Limited serving as the registrar.
In a statement, Chairperson and Managing Director Lakshmi Chandra noted that the IPO will support the company’s strategic expansion and customer engagement goals.