C2C Advanced Systems SME listing postponed

Technology company C2C Advanced Systems was set to enter the SME listed space soon.

C2C Advanced Systems provides a range of products, professional services and product engineering solutions. | Representational image | Source: Pexels

Capital market regulator Securities and Exchange Board of India (SEBI) on Monday postponed an imminent listing of shares by C2C Advanced Systems in the SME segment. Its action was in light of certain investor complaints. C2C Advanced Systems provides a range of products, professional services and product engineering solutions.

The regulator directed the company to appoint an independent auditor, postponing the listing until the receipt of an independent auditor's report on the matter.

SEBI said that investors who participated in the IPO will have the option to get refunds against their funds.

C2C Advanced Systems, whose IPO was underway, was originally set to enter the SME listed space on November 29.

ALSO READ: Rosmerta Digital Services SME IPO, set to be India's largest in segment, postponed

In a separate matter this month, SEBI portioned automotive digital solutions and distribution services provider Rosmerta Digital Services' IPO upon receiving certain investor complaints.

The proposed IPO was set to be the country's largest-ever in the SME segment.

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