When and how investors can withdraw bids in C2C Advanced Systems IPO? Here's a guide

Following a Sebi notice, C2C Advanced Systems has allowed investors to withdraw their bids from the SME IPO. The issue, which closes today, received a strong response from investors with an overall subscription of nearly 97 times so far.

The IPO received bids for nearly 30 crore shares as against 31 lakh shares on offer. The strong bidding was driven by non-institutional investors and retail investors, who bid for 9 crore shares and 19 crore shares, respectively.

Here's how investors can withdraw their applications


Step 1: Investor to approach the designated Intermediary for withdrawal of its application

Step 2: The designated intermediary will then acknowledge the request received from the investors

Step 3: The designated intermediary, based on the request received to cancel the bid on the NSE, will receive the acknowledgement (TRS slip) received from the exchange.

Read More: SME IPO of C2C Advanced Systems hit by Sebi action, listing date postponed

For online applications, investors are advised to contact customer care/helpline numbers of respective service providers.

Further, investors can also mention the details of the broker, in case they are not able withdraw bids on their platform. They can mail the details (Name, Application number, PAN, Email id, No of shares applied for, Bank name) to c2csmeipo@linkintime.co.in. In the subject line, mention the PAN number of bidder along with application number and wording "withdrawal"

All investors, other than anchor investors, will have an option to withdraw their bids for the SME IPO from November 26 up to November 28 for all categories.

The withdrawal window for QIB and NII categories will be up to 4:00 pm and retail up to 5:00 pm on November 26. Only withdrawal windows for all categories will be allowed on November 27 and November 28 between 10:00 am to 5:00 pm.

After the withdrawal window is closed on November 28, the company is likely to finalise the share allotment on November 29 and the revised listing is scheduled on or before December 3.