C2C Advanced Systems Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹214 – ₹226

Listed On

29 Nov 2024

Listing Price

₹429.40 (+90.00%)

Current Price LIVE

₹429.40 (+90.00%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	600	₹1,35,600
Retail (Max)	2	1,200	₹2,71,200
S-HNI (Min)	3	1,800	₹4,06,800
S-HNI (Max)	7	4,200	₹9,49,200
B-HNI (Min)	8	4,800	₹10,84,800

As per financials, C2C Advanced Systems Limited has shown good growth, RoNW is 16.21% and P/E is respectively 131, 30.63 and 19.33 as per FY23, FY24 and annualized FY25 earnings. So, issue looks fairly priced. Company is vertically integrated Defence electronics solutions provider catering to the indigenously developed defence products industry in India, which is niche business segment. Performance of BRLM is good post listing. So, we give SUBSCRIBE rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

As on Date	QIB	NII	RII	Total
Shares Offered / Reserved	8,32,800	6,24,600	14,57,400	29,14,800
Day 1 22-11-24	4,44,000 (0.53)	1,64,73,000 (26.37)	6,04,52,400 (41.48)	7,73,69,400 (26.54)
Day 2 11-24	49,95,600 (6)	7,76,71,800 (124.35)	23,62,70,400 (162.12)	31,89,37,800 (109.42)
Day 3 26-11-24	2,63,25,000 (31.61)	14,58,30,600 (233.48)	19,34,44,800 (132.73)	36,56,00,400 (125.43)

As per financial performance, C2C Advanced Systems Limited has posted total income / net profits of Rs 0.35 Cr / Rs (2.38) Cr (FY22), Rs 8.07 Cr / Rs 2.87 Cr (FY23), Rs 41.30 Cr / Rs 12.39 Cr (FY24) and Rs 43.25 Cr / Rs 9.73 Cr (H1 FY24). So as per previous financials data, company has shown good growth. Company has posted an average EPS of Rs 5.95 and average RoNW of 41.44% for last three fiscals. Issue is priced at a P/BV of 6.27 as per NAV of Rs 23.6/- as on 30.09.24. If we attribute latest earnings of FY23, FY24 and annualized FY25 on fully diluted equity post issue, then asking price is at a P/E of around 131, 30.63 and 19.33 respectively, which looks fairly priced. As per RHP, comparison between listed peers is shown in above table. On BRLM's front, Mark Corporate Advisors Private Limited and Beeline Capital Advisors Private Limited are associated with this SME IPO and handled 52 IPOs in last 3 years. For Mark Corporate Advisors Private Limited, from last 3 IPOs, all opened above issue price or at par on the day of listing. As of now from last 3 IPOs, one is trading below issue price and remaining are trading above issue price or at par as on today. ( As on 19.11.24 ) For Beeline Capital Advisors Private Limited, from last 10 IPOs, all opened above issue price or at par on the day of listing. As of now from last 10 IPOs, three are trading below issue price and remaining are trading above issue price or at par as on today. ( As on 19.11.24 ) As per financials, C2C Advanced Systems Limited has shown good growth, RoNW is 16.21% and P/E is respectively 131, 30.63 and 19.33 as per FY23, FY24 and annualized FY25 earnings. So, issue looks fairly priced. Company is vertically integrated Defence electronics solutions provider catering to the indigenously developed defence products industry in India, which is niche business segment. Performance of BRLM is good post listing. So, we give SUBSCRIBE rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

Fresh Issue

1
( Rs
2
( Rs 46/- Cr ) To fund expenditure towards general corporate purpose
3
Issue expense
4
Funding of capital expenditure towards purchase of fixed assets (both hardware and software) for the 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. ( Rs 14.73/- Cr )
5
Towards fit-outs at the new premises at both Bengaluru and Dubai. ( Rs 4.58/- Cr )
6
Payment of Security Deposit for the new premises at Bengaluru, Karnataka, India. ( Rs 1.6/- Cr )
7
To fund the working capital requirements of the Company. ( Rs 46/- Cr )
8
To fund expenditure towards general corporate purposes.
9
Issue expenses.
10
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
11
Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
12
With entry barriers, SEBI wants only well informed investors to participate is such SME offer
13
With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
14
However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own ris
15
Above information is based on information available as on date coupled with market perception

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

33 Comments

H
hardik 17 Dec 2024, 11:45

sme
H
hardik 17 Dec 2024, 11:43

kisi ko laga ye
H
hardik 06 Dec 2024, 11:32

jordar listing huaa
M
Manish 02 Dec 2024, 16:33

paise kyu release nahi hua hai
N
Narendrakumar Patel 02 Dec 2024, 14:30

muje Allotment aya hai 1/2
D
deep 01 Dec 2024, 21:53

allotment kb he eska
D
Deepak 01 Dec 2024, 00:38

aaya kua allotment kisika
R
ruturaj 30 Nov 2024, 12:41

refund aya kisiska
M
Manish 30 Nov 2024, 07:59

bhai allotment kab he iska
A
akhil 29 Nov 2024, 21:01

3ko.listing h bhai
C
Chandra Shekhar 29 Nov 2024, 15:08

ye allotment date 28 dikha raha he pr abhi tk koi update nahi, koi kuch bata paega iske allotment ko lkr
H
h 27 Nov 2024, 12:31

for withdrawal
H
h 27 Nov 2024, 12:31

what is problem in this sme ipo
J
Jainil Radadiya 26 Nov 2024, 17:24

primeyam
S
Sumanto Das 26 Nov 2024, 16:46

cancel windows open till 28oct 2024
H
hardik 26 Nov 2024, 15:10

yes
R
rakesh meena 26 Nov 2024, 14:42

yes
R
R SNRaju 26 Nov 2024, 12:24

anybody cancelled retail categery
R
R SNRaju 26 Nov 2024, 12:23

I had cancelled the Retail category 1 lot right or wrong my decisions I don't know.
A
Ashish 26 Nov 2024, 12:00

Anyone successfully cancelled Bids under HNI category in SBI ASBA?
R
Rakesh 26 Nov 2024, 09:10

hi
R
R SNRaju 26 Nov 2024, 09:07

hi guruji i had applied yesterday. cancel or not plz reply me sir
D
Detroja Purusharth 26 Nov 2024, 08:41

hard copy application how to cancel because i was submitted in bank of baroda now how to cancel application
R
Rakesh 26 Nov 2024, 07:17

hi
A
akhil 25 Nov 2024, 22:21

bank se cansal krna h
A
akhil 25 Nov 2024, 22:20

vhi se cansal hoga
B
Bharat Sharma 25 Nov 2024, 21:10

sharekhan me kaise cancel hoga sir ji
P
Piyush Jain 25 Nov 2024, 19:12

IPO GURU AAJ AAPKI NEED HAIN, ADVISE KARE SIR.. SUBSCRIBE DEKH KE LAGA DI, OR AB ISSUE AAYA HAIN..INDEPEND AUDITOR APPOINT KARNE KA, AB HNI VALE WITHDRWAL KAISY KARE.. @IPO GURU@ BATAYE...
P
Piyush Jain 25 Nov 2024, 19:10

https://www.moneycontrol.com/news/business/markets/c2c-adavanced-listing-to-be-postponed-after-sebi-asks-the-company-to-appoint-independent-auditor-12875439.html
P
Piyush Jain 25 Nov 2024, 19:10

or agar HNI Category Main Lagayi hoon to kaisy Cancel Kare..
K
Kim Jong un 25 Nov 2024, 18:37

apni application jis app se aaply kiya hai vaha ja kar cancel kardo application paisa thodi der me vapish aabl jayega
P
prakash 25 Nov 2024, 16:46

is ipo me koi sebi problem he iska appy Kiya ab cancall kese karu
A
akhil 22 Nov 2024, 22:14

lgao sab lgao

Period	Total Income	Total Expenses	Profit After Tax (PAT)
H1 FY24	43.25	30.16	9.73
FY24	41.30	24.70	12.39
FY23	8.07	5.16	2.87
FY22	0.35	2.75	(2.38)

Open Date	Nov 22, 2024
Close Date	Nov 26, 2024
Allotment Date	Nov 28, 2024
Listing Date	Nov 29, 2024
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 214 to ₹ 226 Per Equity Share
Issue Size	Fresh Issue of Up to 43,83,600 with aggregating up to Rs 99.07/- Cr
Retail Min Lot	1 Lot (600 Shares - ₹ 1,35,600)
Lead Manager	Beeline Capital Advisors Private Limited, Mark Corporate Advisors Private Limited

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
C2C Advanced Systems Limited Current	3.21	30.63	16.21%	41
Paras Defence and Space Technologies Limited	8.11	93.1	7%	315

C2C Advanced Systems Limited

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