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.
Offshore deals under I-T lens: Tiger Global vs government battle intensifies
In recent weeks, over a dozen foreign investors have received notices from India’s income tax department for allegedly skipping taxes on substantial transactions from 2018