C2C Advanced Systems Limited - IPO
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IPO Notices
Update to the Notice NSE/LIST/3837E dated November 25, 2024
Dear Investor,
"We refer to the directions received from National Stock Exchange of India Limited ("NSE"), vide letter no. NSE/LIST/3837E dated November 25, 2024. Accordingly, the issuer company is giving an option to withdraw the application from this IPO. Please contact your broker/ASBA banker through whom the bid was placed. This email is to be read along with the Red Herring Prospectus dated November 11, 2024, corrigendum dated November 20, 2024, and November 24, 2024.
Procedure for withdrawal of application/bid:
Step 1: Investor to approach the Designated Intermediary for withdrawal of its application/bid;
Step 2: Designated Intermediary to acknowledge the request received from the investors;
Step 3: Designated Intermediary based on the request received to cancel the bid on the National Stock Exchange of India Limited ("NSE") Portal;
Step 4: Designated Intermediary to receive the acknowledgement (TRS slip) received from NSE, as required.
For online applications you can contact customer care/helpline numbers of respective service providers.
We request you provide the following details of Sole / First Bidder or Applicant:
Name
Application No
PAN
Mobile No
Email ID
No of Shares applied for
Bank Name
You can also mention the details of your broker/bidder, in case you are not able to place your bid (withdrawal) on their platform.
Your reply with the above details should be addressed to us at our email, c2csmeipo@linkintime.co.in and in the subject line please mention PAN Number of the sole / first bidder/applicant with the wording withdrawal. It should read us XXXXX1234F -Appl. No. XXXXXXXX Withdrawal request".
In case if any further clarifications or details are required please contact on c2csmeipo@linkintime.co.in, smeipo@markcorporateadvisors.com, investorgrievance@markcorporateadvisors.com and ig@beelinemb.com.
Last day for withdrawal of application/bids: Thursday, November 28, 2024 before 3:00 PM.
C2C Advanced Systems IPO Dates
- 22 Nov 2024Opening dateOPD
- 26 Nov 2024Closing dateCOD
- 29 Nov 2024Basis of AllotmentBOA
- 02 Dec 2024Initiation of RefundsIOR
- 02 Dec 2024Credit of SharesCOS
- 03 Dec 2024Listing dateLID
C2C Advanced Systems IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retain Minimum | 1 | 600 | ₹135,600 |
| Retain Maximum | 1 | 600 | ₹135,600 |
| HNI Minimum | 2 | 1200 | ₹271,200 |
C2C Advanced Systems IPO Reservation
Promoter Holding
C2C Advanced Systems IPO Valuations
C2C Advanced Systems Limited Financial Information
C2C Advanced Systems Limited's revenue increased by 412% and profit after tax (PAT) rose by 327% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 11,058.01 | 8,583.51 | 1,849.78 | 903.18 | ||||||||||||||||||||||||||||||||||||
| Revenue | 4,324.97 | 4,129.82 | 806.73 | 34.79 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 972.99 | 1,227.69 | 287.52 | -238.21 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 8,618.72 | 7,645.73 | 252.14 | -136.57 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 6,864.52 | 96.69 | ||||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,329.02 | 944.74 | 554.77 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
About C2C Advanced Systems IPO
C2C Advanced Systems Limited, formerly known as C2C – DB Systems Private Limited, incorporated in 2018, is a vertically integrated defense electronics solutions provider catering to the indigenously developed defense products industry in India. The company's core competencies include C4I systems for effective situational awareness and decision support, AI/ML based big data analytics, enterprise integration of real-time data from IIOT, and embedded/FPGA designs.
The company's business model for digital transformation focuses on four main services:
- Virtual Supply Chain: The company provides software development based on real-time and continuous data provided by various sensors, generating usable data that is immediately actionable.
- Virtual logistics: The company delivers using commercial off-the-shelf (COTS) electronic boards and complex engineering to integrate and deliver in an engineered enclosure that can withstand harsh environmental conditions (subsystems)
- Virtual Maintenance: The company integrates various subsystems to deliver systems that extract real-time data and create situational awareness for defense leadership to take action (systems).
- Application of AI/ML technologies in all offerings and as standalone product development and engineering.
The company's product list includes Combat Management Systems, C4I Systems, Anti-Drone Command and Control Systems, Air Defence Subsystems, Integrated Platform Management Systems and Integrated Vessel Management Systems.
Competitive strengths:
- A broad range of products and solutions for defense applications
- Strong R&D capabilities with a focus on innovation
- Well positioned to benefit from the government initiatives “Atmanirbhar Bharat” and "Make in India"
- Strong relationships with a diverse and global customer base
- Experienced management team
As of October 30, 2024, the company employed 190 employees.
Strength Of C2C Advanced Systems IPO
1. Wide Range of Products and Solutions for Defence Applications.
2. Strong R&D Capabilities with a Focus on Innovation.
3. Well Positioned to Benefit from the Government's "Atmanirbhar Bharat" and ake in India' Initiatives.
4. Strong Relationships with a Diverse and Global Customer Base.
5. Experienced Management Team.
Risk Of C2C Advanced Systems IPO
1. Its business has a significant proportion of the company domestic revenues dependent on contracts from the GoI and associated entities including defence public sector undertakings and government organizations involved in Defence. Reprioritization of requirements based on government priorities may have a material adverse effect on its business.
2. The company depends on a limited number of customers for a significant portion of its revenue. The loss of any of its major customers due to any adverse development or significant reduction in business from its major customers may adversely affect the company's business, financial condition, results of operations and future prospects.
3. A major portion of its revenue is from projects undertaken with Government entities or agencies, contracts of which usually contain terms that favour the clients. Such project / contracts are awarded on the basis of certain pre-qualification criteria and competitive selection process and are usually in a standard form, restricting its ability to negotiate the terms and conditions. Any change in the Government policies or focus and/or the company is unable to recover payments in a timely manner, would adversely affect its business and result of operation.
4. The company is subject to strict quality requirements, customer inspections and audits, and any failures to comply with quality standards may lead to cancellation of existing and future orders and could negatively impact its reputation and the company's business and results of operations and future prospects.
5. Any failures to comply with the provisions of the contracts entered with its customers, especially the GoI Entities, could have an adverse effect on its business operations, financial conditions and results of the company's operations. Additionally, imposition of liquidated damages and invocation of performance bank guarantees / indemnity bonds by its customers could impact its results of operations and the company may faces potential liabilities from lawsuits and claims by customers in the future.
6. The company has a history of net losses in 2 out of the last 3 financial years and any losses or its inability to achieve profitability may have an adverse effect on its operations.
7. The company has significant working capital requirements. If its experience insufficient cash flows from the company operations or are unable to borrow to meet its working capital requirements, it may materially and adversely affect its business, cash flows and results of operations.
8. The amount of orders the company has received in the past, its current order book and the company's growth rate may not be indicative of the number of orders its will receive in the future.
9. If the company is unable to manage its growth effectively, its business, future financial performance and results of operations could be materially and adversely affected.
10. The company does not own its Registered Office from where the company operates.
Objectives C2C Advanced Systems IPO
- Funding of capital expenditure towards the purchase of fixed assets (both hardware and software) for its 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.
- Towards fit-outs at the new premises at both Bengaluru and Dubai.
- Payment of Security Deposit for the new premises at Bengaluru, Karnataka, India.
- To fund the working capital requirements of the Company.
- To fund expenditure towards general corporate purposes.
Company Contact Details
C2C Advanced Systems Limited
No.86, Wings of Eagles, SS Commercial Estate,
Varthur Road, Nagavarapalya Main Road,
C V Raman Nagar, Bengaluru ? 560093
Phone: +91 80 4372 4052
Email: compliance@c2c-as.com
Website: http://www.c2c-as.com/
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