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C2C Advanced Systems, a specialised security system manufacturer for defence, homeland and aerospace sectors, plans to raise ₹99 crore through initial public offering by listing on NSE Emerge.
The IPO opens for anchor investors on Thursday and on Friday for public investors.
The company will issue 43.83 lakh equity shares in the price band of ₹214-Rs 226 a share.
Use of funds
The net proceeds from the IPO will be used for funding capital expenditure for upgrading the existing Experience Centre and setting up a Training Centre in Bengaluru. It will also set up a new Experience Centre in Dubai, fit-outs at the new premises at both Bengaluru and Dubai, payment of security deposit for the new premises at Bengaluru, working capital requirements and general corporate purpose.
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Lakshmi Chandra, Chairperson and Managing Director, C2C Advanced Systems said that the growing emphasis by the Government on indigenous equipment for the armed forces presents significant opportunities for innovative offerings, and the ability to deliver reliable and secure systems positions the company with a distinct competitive edge.
“The funds from IPO will strengthen working capital, provide financial flexibility to execute strategic goals and support expanding customer base,” Chandra added.
Mark Corporate Advisors and Beeline Capital Advisors are the book running lead managers to the issue, while Link Intime India is the registrar.
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