The SEBI action on C2C Advanced Systems led to a massive withdrawal of applications with over 3.72 lakh applications withdrawn on Nov. 29.

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.

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.

As per the latest update on the NSE website, the withdrawal window for C2c Advanced Systems was extended by a day.

Despite the withdrawal window being flooded by investors, the latest grey market premium (GMP) hints at a strong listing of C2C on NSE Emerge. Both allotment status and listing of C2C have been postponed,

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.

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

C2C Advanced Systems IPO which was supposed to be listed on NSE Emerge in the late November, has faced a setback after a direction from market regulator Sebi. Following which, many investors have pulled out their applications from C2C Advanced IPO.

Once the allotment is finalised, investors can check their status by visiting the official websites of NSE and Link Intime India, the registrar for the issue: C2C Advanced Systems IPO

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.