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TCS, HDFCBANK, SBI Liquid Fund (G)
C2C Advanced Systems Ltd.

C2C

Equity

NSE

Min. Investment

2,14,000.00

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IPO Details

Bidding Dates

22 Nov 24 - 26 Nov 24

Price Range ₹

214 - 226

Total Equity

98.60Cr

Lot Size

600

Exchange Status

NSE

IPO Doc

Subscription Rate

Non-Institutional Investor

0.00×

Qualified Institutional Buyers

0.00×

Employees

0.00×

Retail Investors

0.00×

Total subscription Rate

0.00×

IPO Timeline

Offer start

22 Nov 2024

Offer end

26 Nov 2024

Allotment

27 Nov 2024

Refund initiation

28 Nov 2024

Demat transfer

28 Nov 2024

Listing

03 Dec 2024

About Company

C2C Advanced Systems Limited, previously known as C2C – DB Systems Private Limited, was established in 2018 and is a vertically integrated provider of defense electronics solutions, serving India’s indigenous defense products industry. The company specializes in C4I systems for enhanced situational awareness and decision-making, AI/ML-driven big data analytics, enterprise integration of real-time data from IIOT (Industrial Internet of Things), and embedded/FPGA designs. C2C Advanced Systems’ digital transformation business model is centered around four core services: 1. Virtual Supply Chain: Offers software development driven by continuous real-time data from various sensors, providing actionable data for immediate use. 2. Virtual Logistics: Utilizes commercial off-the-shelf (COTS) electronic boards and advanced engineering to integrate components within durable enclosures that withstand harsh environments (subsystems). 3. Virtual Maintenance: Integrates multiple subsystems to deliver solutions that capture real-time data, enabling defense leadership to gain situational awareness and make informed decisions (systems). 4. AI/ML Integration: Applies AI/ML technologies across all offerings, as well as for standalone product development and engineering. Product Offerings include Combat Management Systems, C4I Systems, Anti-Drone Command and Control Systems, Air Defence Subsystems, Integrated Platform Management Systems, and Integrated Vessel Management Systems. Competitive Advantages: - Comprehensive range of products and solutions tailored for defense applications. - Strong R&D capabilities with a focus on innovation. - Well-positioned to leverage government initiatives such as “Atmanirbhar Bharat” and “Make in India.” - Robust relationships with a diverse and global customer base. - Experienced and skilled management team. As of October 30, 2024, the company had a workforce of 190 employees.

Year Founded

21-02-2018

Promotor Details

Lakshmi Chandra

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage72.4340.73
Share Capital88779566777956

Offer to Public

43,62,865.00 Cr

Project Details

  • Towards security deposit for our new premises at Bengaluru - 16cr
  • Towards Fit-outs at our new premises at Bengaluru and Experience Centre at Dubai - 45.8cr
  • Funding working capital requirements of our Company - 460cr
  • Towards purchase of Fixed Assets (both hardware and software) for our existing operations and Dubai - 134.53cr

Objectives

  • Funding of capital expenditure towards purchase of fixed assets (both hardware and software) for our 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 DubaiTowards fit-outs at the new premises at both Bengaluru and DubaiPayment of Security Deposit for the new premises at Bengaluru, Karnataka, IndiaTo fund the working capital requirements of our Company
  • andTo fund expenditure towards general corporate purposes.

Highlights

  • Consistent growth in revenue over the past few years, reflecting strong operational performance and market demand.
  • Strong capability in developing customized software, hardware, and firmware solutions using proprietary IP and strategic partnerships.
  • Technology-driven approach for designing advanced systems tailored for mission-critical defense applications.
  • Expertise in dual-use solutions, including Industry 4.0 products leveraging AI/ML analytics for civilian industries.
  • Established international presence with a comprehensive project lifecycle and after-sales services.

Challenges

  • Heavy reliance on government contracts, making the company vulnerable to changes in government priorities or reduced contract awards.
  • Concentration of revenue from top customers, with a significant portion of sales coming from the top 10 customers, posing a risk if any are lost.
  • Client-favorable contract terms in government projects, with conditions that are non-negotiable and susceptible to delays or changes in government policies.
  • Financial losses in the past (FY22) raise concerns about future profitability and financial stability.
  • High dependency on exports, which exposes the company to risks from international political tensions, export restrictions, or regulatory changes.

Financials

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS
2022895.6550.01287.52287.528.7127
20231,845.60150.00-11.78-11.78-1.0707
2021780.8550.01-238.21-238.21-21.6511
20248,581.481,225.76287.52287.528.7127
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