The IPOs of C2C Advanced Systems Limited and Enviro Infra Engineers Limited opened on November 22, 2024. Both show significant potential for listing gains based on updated Grey Market Premium (GMP) and financial performance.

C2C Advanced Systems Limited IPO: Key Highlights

IPO Details

• Issue Size: ₹94.68 Crores
• Type: 100% Fresh Issue of 43.83 Lakh shares
• Price Band: ₹214 - ₹216 per equity share
• Market Capitalization: ₹359.44 Crores (at the upper band)
• Lot Size: 600 shares
  • Minimum Investment for Retail: ₹1,29,600
  • Minimum Investment for HNIs: ₹2,59,200

IPO Timeline

• Subscription Period: November 22 to November 26, 2024
• Allotment Date: November 27, 2024
• Listing Date: November 29, 2024

Financial Metrics

• Revenues: ₹4,129.82 Lakhs (FY24), growing exponentially from ₹34.79 Lakhs (FY22).
• Profit After Tax (PAT): ₹1,227.69 Lakhs (FY24), up from losses in FY22.
• EPS: Pre-issue ₹15.85; Post-issue ₹7.37
• P/E Ratio: Pre-issue 13.50x; Post-issue 29.30x

Grey Market Premium (GMP)

• Updated GMP: ₹174 (77% premium over the issue price).

Objectives of the IPO

• Funding capital expenditure for new and existing projects in Bengaluru and Dubai.
• Expansion of training and experience centers.
• Working capital requirements and general corporate purposes.

Verdict

With a substantial GMP of ₹174, reflecting a 77% premium, and strong financial recovery, C2C Advanced Systems offers exceptional potential for both listing gains and long-term growth.

Enviro Infra Engineers Limited IPO: Key Highlights

IPO Details

• Issue Size: ₹650.43 Crores
  • Fresh Issue: ₹572.33 Crores
  • Offer for Sale (OFS): ₹77.97 Crores
• Price Band: ₹140 - ₹148 per equity share
• Market Capitalization: ₹2,597.84 Crores (at the upper band)
• Lot Size: 101 shares
  • Minimum Investment for Retail: ₹14,948
  • Minimum Investment for HNIs: ₹2,09,272

IPO Timeline

• Subscription Period: November 22 to November 26, 2024
• Allotment Date: November 27, 2024
• Listing Date: November 29, 2024

Financial Metrics

• Revenues: ₹73,800.46 Lakhs (FY24), a 3x increase from FY22.
• Profit After Tax (PAT): ₹10,856.95 Lakhs (FY24), growing steadily from ₹3,454.86 Lakhs (FY22).
• EPS: Pre-issue ₹8.13; Post-issue ₹6.30
• P/E Ratio: Pre-issue 18.20x; Post-issue 23.50x

Grey Market Premium (GMP)

• Expected GMP: ₹45 (30% premium over the issue price).

Objectives of the IPO

• Fund working capital requirements and repay outstanding borrowings.
• Invest in subsidiary projects, including Mathura’s sewerage scheme.
• Support inorganic growth and general corporate purposes.

Verdict

Enviro Infra Engineers continues to showcase steady growth and fair pricing. Its projected listing gains and focus on infrastructure make it attractive for long-term investors.

Comparison of C2C Advanced Systems and Enviro Infra Engineers IPOs

Final Recommendations

• C2C Advanced Systems Limited: Updated GMP of ₹174 (77%) makes this IPO a standout candidate for listing gains. Long-term investors can also benefit from its strong growth trajectory in technology solutions.
• Enviro Infra Engineers Limited: With a 30% GMP and strong fundamentals in infrastructure, this IPO offers moderate listing gains and solid long-term prospects.

Choose based on your risk appetite and investment horizon!

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