C2C Advanced Systems receives in-principle nod from NSE to launch SME IPO | Stock Market News
Source: Live Mint
SME IPO: C2C Advanced Systems, a technology firm, has received in-principle approval from the National Stock Exchange (NSE) for its draft red herring prospectus (DRHP) to launch an SME initial public offering (IPO).
The company’s IPO consists of a fresh issue of up to 43,62,865 equity shares, each with a face value of ₹10.
It plans to use the proceeds raised from the IPO for the purchase of fixed assets, fit-outs at new premises at Bengaluru and Experience Centre in Dubai, security deposit for new premises at Bengaluru, working capital requirements and general corporate purposes.
For the purpose of its upcoming IPO, the company has appointed Beeline Capital Advisors Private Limited & Mark Corporate Advisors Private Limited as the book-running lead manager (BRLM) to the issue, while Link Intime India will serve as the registrar.
What Does C2C Advanced Systems Do?
C2C Advanced Systems, with over two decades of experience, is a technology company specialising in defence and aerospace, as well as homeland security, offering bespoke, cutting-edge systems and complex sensor integration solutions.
The company collaborates with global clients to provide innovative technologies, re-engineering, and retrofitting solutions to combat technological obsolescence.
C2C also develops Command and Control systems for industrial platforms, emphasising supply chain and logistics virtualisation.
Their expertise encompasses system integration, architecture, software development, and testing. Notably, the company has delivered a state-of-the-art Combat Management System to the Royal Malaysian Navy.
As per the company’s website, it has many marquee customers on board such as Defence Research and Development Organisation (DRDO), Indian Navy, Indian Army, Hindustan Aeronautics Limited (HAL), BHEL, L&T Defence, Wipro, Honda, Oracle, ABB, E&Y, PWC, TVS Group and BEL.
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