C2C Advanced Systems GMP declines to 40% after SEBI action

C2C Advanced Systems’ IPO grey market premium dropped to about 40% after SEBI intervened, prompting a listing postponement and a withdrawal option for investors. Sebi’s action follows concerns and requires an independent audit of the company’s financials. The IPO, initially subscribed nearly 96 times, faces scrutiny similar to Trafiksol ITS Technologies earlier this year. C2C Advanced Systems’ IPO grey market premium dropped to about 40% after SEBI intervened, prompting a listing postponement and a withdrawal option for investors. Sebi’s action follows concerns and requires an independent audit of the company’s financials. The IPO, initially subscribed nearly 96 times, faces scrutiny similar to Trafiksol ITS Technologies earlier this year.  Economic Times