C2C Advanced Systems IPO allotment date today. How to check allotment status

The allotment of IPO of C2C Advanced Systems, which received strong response from investors, will be out today.

To check the allotment status through the registrar, follow the below mentioned steps. The registrar in this case is Link Intime India.

Step 1: Visit the Link Intime India website (https://linkintime.co.in/initial_offer/public-issues.html)

Step 2: Select C2C Advanced Systems IPO

Step 3: Enter the PAN details and click search to know the status

The company planned to raise around Rs 99 crore through the issue, which is one of the largest in the SME segment this year. C2C Advanced Systems deferred its listing date to December 3 after a Sebi directive raised concerns over the auditing system of the company.

However, due to the concerns raised by the regulators, investors were given the option to withdraw their applications. The withdrawal window for all categories was allowed on November 27 and November 28 between 10:00 am to 5:00 pm.

According to reports, Sebi had asked C2C Advanced Systems to appoint an independent auditor and get an independent report of financial accounts.

This is the second time an SME IPO has come under scrutiny from the regulators and postponed its listing. Earlier this year, Sebi had asked BSE not to proceed with the listing of Trafiksol ITS Technologies amid serious concerns over misuse of the funds received from the IPO.

C2C Advanced Systems specialises in the development of complex systems for defence, homeland security and aerospace sectors. It also delivers bespoke, cutting-edge solutions to all the arms of the defence forces involving the integration of complex weapons and sensors.

The company also offers command and control systems for industrial platforms, focusing on supply chain and logistics virtualization. Its expertise includes system integration, system architecture, software development and testing, which involved delivering a combat management system to the Royal Malaysian Navy.

In FY24, the company achieved a revenue of Rs 41 crore, EBITDA of Rs 18 crore, and a PAT of Rs 12 crore.

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