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.

The SEBI action on C2C Advanced Systems led to a massive withdrawal of applications with over 3.72 lakh applications withdrawn on Nov. 29.

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.

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

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 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.

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.

The IPO of C2C Advanced Systems has seen nearly 80 per cent of individual investors withdraw their bids. The move comes after the company’s listing was postponed due to regulatory concerns.