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.
CFF Fluid Control IPO Details
| IPO Date | May 30, 2023 to Jun 2, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹165 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 5,200,000 shares (aggregating up to ₹85.80 Cr) |
| Fresh Issue | 5,200,000 shares (aggregating up to ₹85.80 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 14,274,100 |
| Share holding post issue | 19,474,100 |
| Market Maker portion | 260,800 shares |
CFF Fluid Control IPO Reservation
| Other Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
Note:
- Market Maker portion of 260,800 equity shares is added to NII Reservation.
- Total Shares offered: QIB+NII+RII.
CFF Fluid Control IPO Timetable (Tentative)
CFF Fluid Control IPO opens on May 30, 2023, and closes on Jun 2, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Tuesday, 30 May 2023 |
| Closing Date | Friday, 2 June 2023 |
| Basis of Allotment | Wednesday, 7 June 2023 |
| Initiation of Refunds | Thursday, 8 June 2023 |
| Credit of Shares to Demat | Friday, 9 June 2023 |
| Listing Date | Monday, 12 June 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 2, 2023 |
CFF Fluid Control IPO Lot Size
The CFF Fluid Control IPO lot size is 800 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹132,000 |
| Retail (Max) | 1 | 800 | ₹132,000 |
| HNI (Min) | 2 | 1,600 | ₹264,000 |
| Lot Size Calculator |
CFF Fluid Control IPO Promoter Holding
Sunil Menon and Gautam Makkar are the promoters of the company.
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 73.30% |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 4,460.42 | 3,196.48 | 134.62 | 680.74 | 609.37 | 232.12 |
| 31-Mar-21 | 4,233.99 | 1,481.27 | 24.64 | 705.38 | 634.01 | 1,017.64 |
| 31-Mar-22 | 5,595.70 | 4,712.39 | 779.95 | 1,485.33 | 1,413.96 | 1,104.48 |
| 30-Sep-22 | 7,020.12 | 3,907.54 | 639.63 | 2,124.96 | 697.55 | 1,922.55 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 30.22 |
| ROE | 0.52 |
| ROCE | 0.31 |
| Debt/Equity | 1.22 |
| EPS (Rs) | 5.46 |
| RoNW (%) | 52.56 |
Check CFF Fluid Control IPO Peer Comparison here.
Objects of the Issue
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects:
- Funding Working capital requirements
- Repayment of Loans
- Purchase of machinery and equipment
- Acquire Technology of ” Towed Wire Antenna (TWA)”
- General Corporate Purpose
CFF Fluid Control IPO Prospectus
Company Contact Information
CFF Fluid Control Limited
Plot No 01, Survey No 96,
Kumbhivli Madap Khopoli,
Khalapur, Raigarh-410203
Phone: +91-2246086806
Email: compliance@cffdefensys.com
Website: http://www.cffdefensys.com/
CFF Fluid Control IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/