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.
Jefferies views IndiGo as unique and strong franchise, raises target price to Rs 5,260
The IndiGo stock has underperformed following a significant miss in the company’s 2Q results, driven by higher costs impacting profitability. However, Jefferies expects cost normalization