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CFF Fluid Control Limited IPO Detail

CFF Fluid Control Limited IPO Detail
 

Incorporated in 2012, CFF Fluid Control Limited is primarily engaged in the business of manufacturing and servicing of shipboard machinery. They manufacture critical component systems and test facilities for submarines and surface ships for The Indian Navy.

The entity also designs, manufacture, and service Mechanical equipment and systems for industries like Nuclear and Clean Energy.

The Company's promoters and group companies have been in the defense manufacturing space for more than 20 years.

CFF Fluid Control was incorporated with the purpose of having a dedicated new entity focused on meeting the growing requirements of the Indian Navy, Mazagaon Dockyard, and Shipbuilders Limited (MDL). This was to undertake the manufacturing and supplying of mechanical equipment for the "Scorpene" Submarine Program of India.

The company's facilities are situated at Khopoli. The facility is spread over 6,000 sq. mtrs. and has all the relevant state-of-the-art machinery and testing facilities. At the facility, the company design, manufacture, and service.

Servicing includes fluid control systems, distributor and air panels Weapons and Control Systems, Steering gear, Propulsion Systems, High-Pressure Air Systems, Hydraulics Systems, Breathing and Diving Air Systems, and Integrated Platform Management Systems for submarines and surface ships for the Indian Navy and its OEMs.

The facility is Indian Navy, MDL & Naval Group (France) approved and has ISO 9001:2015 certification for quality management systems.

Company Promoters

Sunil Menon and Gautam Makkar

IPO Details

IPO Opening DateMay 30, 2023
IPO Closing DateJun 02, 2023
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price ₹165 per equity share
Market Lot800 Shares
Min Order Quantity800 Shares
Listing AtBSE SME
Issue Size₹85.80 Cr
Fresh Issue₹85.80 Cr
Offer for Sale-
Retail Portion 50%

IPO Tentative Timetable

The CFF Fluid Control Limited IPO open date is May 30, 2023, and the close date is Jun 02, 2023. The issue may list on Jun 12, 2023.

IPO Open DateMay 30, 2023
IPO Close DateJun 02, 2023
Basis of Allotment DateJun 07, 2023
Initiation of RefundsJun 08, 2023
Credit of Shares to Demat AccountJun 09, 2023
IPO Listing DateJun 12, 2023

IPO Lot Size

The CFF Fluid Control Limited IPO market lot size is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or ₹132000).

ApplicationLotsSharesAmount (Cut-off)
Minimum1800₹132000
Maximum1800₹132000

IPO Promoter Holding

Pre Issue Share Holding99.99%
Post Issue Share Holding73.30%

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-20 4,460.42 3,196.48 134.62
31-Mar-21 4,233.99 1,481.27 24.64
31-Mar-22 5,595.70 4,712.39 779.95
30-Sep-22 7,020.12 3,907.54 639.63

Objects of the Issue:

The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects:

  1. Funding Working capital requirements
  2. Repayment of Loans
  3. Purchase of machinery and equipment
  4. Acquire Technology of " Towed Wire Antenna (TWA)"
  5. General Corporate Purpose

CFF Fluid Control Limited IPO Registrar:

Cameo Corporate Services Limited

CFF Fluid Control Limited IPO Lead Manager(s):

Aryaman Financial Services Limited

Company Contact Information:

CFF Fluid Control Limited

Plot No 01, Survey No 96,

Kumbhivli Madap Khopoli,

Khalapur, Raigarh-410203