C2C Advanced Systems gains 100% on NSE-Emerge platform after IPO listing, attracting strong investor interest despite regulatory intervention.

C2C Advanced Systems shares saw a strong rally after their debut on the NSE SME platform, climbing an additional 5% to deliver a total return of 99.49% on the first day, providing near multibagger returns to investors.

According to market observers tracking the grey market premium activities, the shares of C2C Advanced Systems are commanding a GMP of nearly 90 percent in the unofficial market.

The company's stock listed at Rs 429.40 apiece, representing a 90 per cent premium over the IPO allotment price of Rs 226

Unlisted shares of C2C Advanced Systems Ltd are currently trading at Rs 426 per share in the grey market, which is Rs 200 or 88.5 per cent higher than the IPO issue price of Rs 226.

C2C Advanced Systems provided investors across all categories the option to withdraw their bids after SEBI's action.

C2C Advanced Systems IPO allotment will be out today. The company planned to raise Rs 99 crore, but its listing was deferred due to SEBI's concerns over auditing.

Despite withdrawals, the IPO is commanding a grey market premium (GMP) of Rs 195 over Rs 226 level, the upper limit of the IPO price band, suggesting 86.28 per cent potential listing pop.