C2C Advanced Systems Limited 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.

C2C Advanced Systems Limited Financial Information (Restated)

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 Ended30 Sep 202431 Mar 202431 Mar 202331 Mar 2022
Assets11,058.018,583.511,849.78903.18
Revenue4,324.974,129.82806.7334.79
Profit After Tax972.991,227.69287.52-238.21
Net Worth8,618.727,645.73252.14-136.57
Reserves and Surplus 6,864.5296.69 
Total Borrowing1,329.02 944.74554.77
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of C2C Advanced Systems IPO is Rs 376.09 Cr.

KPI as of September 30, 2024.

KPIValues
Debt/Equity0.15
RoNW11.29%
P/BV3.62
PAT Margin (%)22.51
 Pre IPOPost IPO
EPS (Rs) 10.0211.69
P/E (x) 22.5619.33
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.

Objects of the Issue (C2C Advanced Systems IPO Objectives)

The company intends to utilize the proceeds of the net issue in the following manner:

  1. 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.
  2. Towards fit-outs at the new premises at both Bengaluru and Dubai.
  3. Payment of Security Deposit for the new premises at Bengaluru, Karnataka, India.
  4. To fund the working capital requirements of the Company.
  5. To fund expenditure towards general corporate purposes.

C2C Advanced Systems IPO Details

IPO DateNovember 22, 2024 to November 26, 2024
Listing Date[.]
Face Value₹10 per share
Price Band₹214 to ₹226 per share
Lot Size600 Shares
Total Issue Size4,383,600 shares
(aggregating up to ₹99.07 Cr)
Fresh Issue4,383,600 shares
(aggregating up to ₹99.07 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Share holding pre issue12,257,568
Share holding post issue16,641,168
Market Maker portion219,600 shares

C2C Advanced Systems IPO Promoter Holding

C2C Innovations Private Limited, PVR Multimedia Private Limited, Lakshmi Chandra, Maya Chandra, Subrahmanya Srinivasa Narendra Lanka, Kuriyedath Ramesh and Murtaza Ali Soomar are the company's promoters.

Share Holding Pre Issue56.52%
Share Holding Post Issue 

SHARIAH SCREENING for - C2C Advanced Systems Limited IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

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