C2C Advanced Systems IPO sees strong demand; 9x subscribed, GMP zooms 108%

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C2C Advanced Systems IPO sees strong demand; 9x subscribed, GMP zooms 108% - Business Standard

Quick Summary:

C2C Advanced Systems unlisted shares were trading at a premium of Rs 245 against the upper price band of Rs 226, reflecting a GMP of 108.

At the upper end, the company seeks to raise Rs 99.07 crore from the public offering, which is available at a price band of Rs 214-216, with a lot size of 600 shares.

The company proposes to utilise the proceeds of the net issue for funding capital expenditure towards the purchase of fixed assets (both hardware and software) for its existing operations, including the upgradation of the existing Experience Centre and the setup of a Training Centre in Bengaluru.