C2C Advanced Systems' Rs 99-crore IPO saw a significant setback as regulatory concerns led to 3.72 lakh applications worth Rs 27 crore being withdrawn. Sebi's intervention required the company to appoint independent auditors and NSE to set up a monitoring agency,

C2C Advanced Systems had postponed its listing after SEBI mandated it to appoint independent auditors to review its financial accounts and submit an independent report.

As per its IPO papers filed with market regulator SEBI, the SME IPO of C2C Advanced Systems was expected to get listed on the bourses by Friday, November 29. The revised listing is scheduled on or before December 3.

C2C Advanced Systems' Rs 99-crore IPO faces challenges as over 3.72 lakh applications worth Rs 27 crore are retracted due to regulatory concerns. This setback follows Sebi's order for independent audits and NSE's monitoring agency setup.

C2C Advanced Systems IPO faces setback as over 3.72 lakh applications are withdrawn following regulatory concerns and postponement of listing. Read more.

C2C Advanced Systems sold its shares in the price band of Rs 214-226 apiece, which could apply for a minimum of 600 shares and its multiples thereafter to raise a total of Rs 99.07 crore.

The sharp drop in C2C Advanced Systems' IPO GMP follows SEBI’s intervention after receiving a complaint from an investor.

C2C Advanced Systems has allowed investors to withdraw bids from its SME IPO after a Sebi notice. The issue, closing today, was oversubscribed by nearly 97 times, with strong demand from non-institutional and retail investors,

C2C Advanced Systems has postponed its share listing following directives from NSE and SEBI, which require the appointment of independent auditors and a financial report.