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Upcoming IPO : If you are thinking of betting on Initial Public Offering i.e. IPO, then this news is for you. One such IPO is opening from tomorrow, which has so far reached 109% premium in the gray market. We are talking about the IPO of defense solutions provider C2C Advanced Systems IPO. The company has fixed the price band of the IPO at Rs 214-226 per share. The company’s IPO will open on Friday, 22 November and will close on 26 November. The company plans to raise Rs 99 crore.
GMP what’s going on?
According to Investorgain.com, shares of C2C Advance Systems are available in the gray market at Rs 245. This means that the possible listing of the company’s shares can be at Rs 471. That means investors can make a profit of 109% on the first day. After the IPO, the company’s shares will be listed on the NSE platform Emerge. The probable date of listing is November 29.
what are the details
The IPO is based on 43.83 lakh new shares of face value Rs 10 each. Lakshmi Chandra, Chairperson and Managing Director, C2C Advanced Systems Limited, said – This funding will strengthen our working capital, providing financial strength to meet our strategic goals. “C2C Advanced Systems specializes in the development of complex systems for the defence, homeland security and aerospace sectors.”