IPO Issue Details
Issue Price / Price Band₹165 per share (Fixed Price)
Face Value₹10 Per Share
Lot Size800 Shares per Lot
Total Issue Size52,00,000 shares (aggregating up to ₹85.80 Cr)
Issue TypeFixed Price IPO
Sale Type / CategoryFresh Capital
Exchange / PlatformBSE SME
IPO TypeSME
Subscription OpenTue, 30 May 2023
Subscription CloseFri, 02 Jun 2023
Anchor AllotmentMon, 29 May 2023
Basis of AllotmentWed, 07 Jun 2023
Initiation of RefundsThu, 08 Jun 2023
Credit of Shares to DematFri, 09 Jun 2023
Listing DateMon, 12 Jun 2023
UPI Mandate Deadline2023-06-02
Application & Investment Details
Retail — Min (1 Lots)₹1,32,000 — 800 shares
Retail — Max (13 Lots)₹1,716,000 (13 Lots)
HNI — Min (2 Lots)₹2,64,000 — 1,600 shares
EPS (Pre-IPO)₹5.46
P/E Ratio (Pre-IPO)30.22x
Net Offer to Public49,39,200 shares (aggregating up to ₹81.50 Cr)
Reserved for Market Maker2,60,800 shares (aggregating up to ₹4.30 Cr)
Pre-IPO Promoter Holding1,42,74,100 shares
Post-IPO Promoter Holding1,94,74,100 shares
About CFF Fluid Control Ltd
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.
Objects of the Issue
CFF Fluid Control Ltd proposes to utilise the net proceeds from the Issue for the following objects:
1
Funding Working capital requirements
29.42
3
Purchase of machinery and equipment
8.86
4
Acquire Technology of “ Towed Wire Antenna (TWA)
8.50
5
General Corporate Purpose
16.71
Shareholding & Lock-in
Pre-IPO Promoter Holding
1,42,74,100 shares
Post-IPO Promoter Holding
1,94,74,100 shares