C2C Advanced Systems IPO GMP Slips by 60%

The Grey market premium (GMP) of C2C Advanced Systems IPO slipped by about 60% on its final day (today). This comes after Sebi requested to appoint an independent auditor while furnishing an independent report on its financial accounts.

While the GMP was at ₹245 on November 24, the premium fell to about ₹100 today, a listing gain of about 45%. In just two days, the share declined by 59.18%.

Notably, the IPO garnered a lot of interest from the investors, however, regulatory intervention have dampened prospects over its listing timeline, which can cause further delays