C2C Advanced Systems finalises IPO allotment amid SEBI's action; GMP rises to nearly 90%

C2C Advanced Systems IPO has seen a withdrawal of 3.72 lakh applications worth Rs 27 crore.

C2C Advanced Systems Allotment Out: C2C Advanced Systems IPO GMP has surged on the allotment date after slipping marginally last week following the postponement of the company's listing due to regulatory concerns.

Those who subscribed to the maiden share sale by C2C Advanced Systems can check their allotment status on the official website of the registrar, Link Intime India Pvt Ltd, using their application number or PAN details.

The Rs 99-crore C2C Advanced Systems IPO allotment status can also be checked on the BSE and NSE websites.

C2C Advanced Systems IPO allotment: Steps to check share allotment status on Link Intime

Step 1: Open the link to the official registrar of the issue on this URL: https://linkintime.co.in/initial_offer/

Step 2: Select the company from the dropdown menu.

Step 3: You check your allotment status by filling in details like PAN, application number or DP client ID.

Step 4: Press the Submit button

Step 5: Your allotment status will be shown in the window.

C2C Advanced Systems IPO GMP crashes 60% after SEBI action

C2C Advanced Systems IPO allotment status check on BSE

Step 1: Open the website of Bombay Stock Exchange (BSE).

Step 2: Click on 'Investors' option.

Step 3: On the 'Investor Services' dropdown, click on 'Status of Issue Application'.

Step 4: Click on 'Application Status Check'.

Step 5: Select Equity in the issue type.

Step 6: Fill in the required details including the 'Issue Name'.

Step 7: Enter your PAN number and click on Search to view the status.

C2C Advanced Systems IPO allotment status check on NSE

Step 1: Open the website of NSE by clicking on this direct link (https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp).

Step 2: Register by signing up using your details and then Submit.

Step 3: Select 'C2C Advanced Systems'

Step 4: Investors can check the allotment status by filling in details like their IPO Application number.

Step 5: Press the Submit button

Step 6: The allotment status will be shown in the window.

The Rs 99-crore initial public offering of C2C Advanced Systems faced a setback, with over 3.72 lakh applications worth Rs 27 crore being withdrawn after the Securities and Exchange Board of India (SEBI) directed the company to appoint independent auditors to evaluate its financial accounts.

Additionally, the SEBI asked the National Stock Exchange (NSE) to set up a monitoring agency to oversee the utilisation of funds raised through the IPO.

Following regulatory intervention, investors across all categories were given an option to withdraw their bids, a window that closed on Thursday.

According to market observers that track the grey market premium activities, the shares of C2C Advanced Systems are commanding a grey market premium of 86.28 percent in the unofficial market. Investorgain quoted a GMP of Rs 195 for C2C Advanced Systems. Till last week, it was around 65 percent.

The shares were available for subscription in the price band of Rs 214-226 apiece. The public issue of C2C Advanced Systems, which specialises in defence and aerospace solutions, had seen demand soaring to 125 times with investors bidding for 36.56 crore shares, while only 29.15 lakh shares were available.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.