C2C Advanced Systems Limited (NSE SME)

Nov 22, 2024 - Nov 26, 2024

Premium	₹245
Price	₹214 - ₹226
Lot size	600
Allotment	Nov 27, 2024
Listing	Nov 29, 2024

Category	Lot(s)	Qty	Amount	Reserved
Retail	1	600	135600	2429
HNI	2	1200	271200	1041

Last updated on 22-Nov-2024 19:57:09

Category	Offered	Applied	Times
QIB	832800	444000	0.53
NIB	624600	16677000	26.7
RETAIL	1457400	62413200	42.83
Total	2914800	79534200	27.29

Application Wise Breakup
Category	App. Received
QIB	2
NIB	7248
RETAIL	104022
Total	111272

Subscription Demand (in ₹ crore)
Category	Offered	Demand	Times
QIB	18.82	10.03	0.53
NIB	14.12	376.9	26.7
RETAIL	32.94	1410.54	42.83
Total	65.87	1797.47	27.29

QIB Interest Cost Per Share (7 Days)
@7% ₹0.16	@8% ₹0.18	@9% ₹0.21	@10% ₹0.23	@11% ₹0.25	@12% ₹0.28

HNI Interest Cost Per Share (7 Days)
@7% ₹8.1	@8% ₹9.26	@9% ₹10.42	@10% ₹11.57	@11% ₹12.73	@12% ₹13.89

About

IPO Reservation

Investor Category	Shares Offered	No. of Shares
Retail	33.25%	1457400
NII (HNI)	14.25%	624600
Anchor	28.50%	1249200
QIB	19.00%	832800
Market Maker	5.00%	219600
Total	100.00%	4383600

C2C Advanced Systems IPO Details

Issue Size	4,383,600 shares (aggregating up to ₹99.07 Cr)
Fresh Issue	4,383,600 shares (aggregating up to ₹99.07 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Share holding pre issue	12,257,568
Share holding post issue	16,641,168
Market Maker portion	219,600 shares
Market Maker	Spread X Securities

Key Performance Indicator

KPI	Sep-24	Mar-24	Mar-23
RONW	11.29%	16.21%	114.03%
D/E	0.15	-	3.75
EPS (basic)	7.94	15.85	14.29
P/E Pre IPO	22.56
P/E Post IPO	19.33

Company Financials

C2C Advanced Systems Limited Financial Information (Restated) In Lakhs.

C2C Advanced Systems Limited's revenue increased by 412% and profit after tax (PAT) rose by 327% between the financial year ending with March 31, 2024 and March 31, 2023.

Period	Sep 2024	Mar 2024	Mar 2023	Mar 2022
Assets	11,058	8,583	1,849	903
Revenue	4,324	4,129	806	34
Profit	972	1,227	287	-238
Net Worth	8,618	7,645	252	-136
Reserves		6,864	96
Borrowing	1,329		944	554
Amount in ₹ Lakhs

About Company

C2C Advanced Systems Limited, originally C2C – DB Systems Private Limited and founded in 2018, is a defense electronics solutions provider specializing in vertically integrated, indigenously developed products for India’s defense sector. The company’s core capabilities encompass C4I systems for situational awareness and decision support, AI/ML-based big data analytics, enterprise integration of real-time IIOT data, and embedded/FPGA designs. Its business model supports digital transformation across four key services: Virtual Supply Chain, creating actionable data from sensor-driven software; Virtual Logistics, using COTS electronic boards within engineered enclosures for harsh environments; Virtual Maintenance, providing real-time data integration for situational awareness in defense operations; and AI/ML technologies applied in both system offerings and standalone products. C2C Advanced Systems' product range includes Combat Management Systems, C4I Systems, Anti-Drone Command and Control Systems, Air Defense Subsystems, Integrated Platform Management Systems, and Integrated Vessel Management Systems. As of October 30, 2024, the company employed 190 people.

Lead Manager(s)

Mark Corporate Advisors Private Limited

Beeline Capital Advisors Pvt Ltd

Strength

Diverse Product Portfolio: Offers a broad range of advanced defense solutions, including Combat Management Systems and Anti-Drone Command Systems.

Innovation-Driven R&D: Focuses on cutting-edge technologies, including AI/ML, for defense applications.

Strategic Market Positioning: Aligned with "Atmanirbhar Bharat" and "Make in India" initiatives, benefiting from strong ties with a global customer base.

Weakness

Reliance on Government Contracts: Heavy dependence on contracts from the Government of India and related entities makes the business vulnerable to changes in government defense priorities.

Customer Concentration: A significant portion of revenue comes from a few key customers; losing any of them could materially impact financial stability and growth prospects.

High Receivables and Payables Days: Extended trade receivable and payable periods may strain liquidity, affecting the company's cash flow and operational flexibility.

Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: c2csme.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html