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CFF Fluid Control IPO is a fixed price issue of ₹85.80 crores. The issue is entirely a fresh issue of 0.52 crore shares of ₹85.80 crore.
CFF Fluid Control IPO bidding started from May 30, 2023 and ended on Jun 2, 2023. The allotment for CFF Fluid Control IPO was finalized on Jun 7, 2023. The shares got listed on BSE SME on Jun 12, 2023.
CFF Fluid Control IPO price is ₹165.00 per share . The lot size for an application is 800. The minimum amount of investment required by an individual investor (retail) is ₹1,32,000 (800 shares). The minimum lot size investment for HNI is 2 lots (1,600 shares), amounting to ₹2,64,000.
Aryaman Financial Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The market maker of the company is Aryaman Capital Markets Ltd..
Refer to CFF Fluid Control IPO RHP for detailed Information.
| IPO Date | May 30, 2023 to June 2, 2023 |
| Listing Date | June 12, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹165 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 52,00,000 shares (aggregating up to ₹85.80 Cr) |
| Reserved for Market Maker | 2,60,800 shares Aryaman Capital Markets Ltd. (aggregating up to ₹4.30 Cr) |
| Net Offered to Public | 49,39,200 shares (aggregating up to ₹81.50 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,42,74,100 shares |
| Share Holding Post Issue | 1,94,74,100 shares |
CFF Fluid Control IPO offers total 52,00,000 shares. Out of which 24,69,600 (47.49%) allocated to NII, 24,69,600 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,60,800 (5.02%) |
| NII (HNI) Shares Offered | 24,69,600 (47.49%) |
| Retail Shares Offered | 24,69,600 (47.49%) |
| Total Shares Offered | 52,00,000 (100.00%) |
CFF Fluid Control IPO opens on May 30, 2023, and closes on June 2, 2023.
| IPO Open Date | Tue, May 30, 2023 |
| IPO Close Date | Fri, Jun 2, 2023 |
| Tentative Allotment | Wed, Jun 7, 2023 |
| Initiation of Refunds | Thu, Jun 8, 2023 |
| Credit of Shares to Demat | Fri, Jun 9, 2023 |
| Tentative Listing Date | Mon, Jun 12, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jun 2, 2023 |
Investors can bid for a minimum of 800 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,32,000 |
| Retail (Max) | 1 | 800 | ₹1,32,000 |
| HNI (Min) | 2 | 1,600 | ₹2,64,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 4,310.42 | 3,196.48 | 132.99 | 679.11 | 607.74 | 1,433.03 |
| 31-Mar-21 | 4,232.32 | 1,481.27 | 24.60 | 703.71 | 632.34 | 2,261.21 |
| 31-Mar-22 | 5,593.59 | 4,712.39 | 779.51 | 1,483.22 | 1,411.85 | 1,659.17 |
| 31-Dec-22 | 7,165.57 | 5,085.37 | 718.11 | 2,201.33 | 773.92 | 2,693.09 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of CFF Fluid Control IPO is ₹321.32 Cr.
| KPI | Values |
|---|---|
| ROE | 0.52% |
| ROCE | 0.31% |
| Debt/Equity | 1.22 |
| RoNW | 52.56% |
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects:
[Dilip Davda] The company is catering to the Defence sector and has posted an average financial performance so far. Its peers’ comparison appears to be an eyewash. Based on its annualized FY23 earnings, the issue is aggressively priced. It also mulls encasing the current fancy for the Defence segment and has priced its IPO greedily. There is no harm in skipping this pricey bet. Read detail review...
| Listing Date | June 12, 2023 |
| BSE Script Code | 543920 |
| NSE Symbol | |
| ISIN | INE0NJ001013 |
| Final Issue Price | ₹165 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹165.00 |
| Open | ₹175.00 |
| Low | ₹175.00 |
| High | ₹183.75 |
| Last Trade | ₹183.75 |
CFF Fluid Control Ltd.
Plot No 01, Survey No 96,
Kumbhivli Madap Khopoli,
Khalapur, Raigarh-410203
Khalapur, Maharashtra
Phone: +91-2246086806
Email: compliance@cffdefensys.com
Website: http://www.cffdefensys.com/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
CFF Fluid Control IPO is a SME IPO of 52,00,000 equity shares of the face value of ₹10 aggregating up to ₹85.80 Crores. The issue is priced at ₹165 per share. The minimum order quantity is 800.
The IPO opens on May 30, 2023, and closes on June 2, 2023.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in CFF Fluid Control IPO using UPI as a payment gateway. Zerodha customers can apply in CFF Fluid Control IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in CFF Fluid Control IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The CFF Fluid Control IPO opens on May 30, 2023 and closes on June 2, 2023.
CFF Fluid Control IPO lot size is 800, and the minimum amount required for application is ₹1,32,000.
You can apply in CFF Fluid Control IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for CFF Fluid Control IPO will be done on Wednesday, June 7, 2023, and the allotted shares will be credited to your demat account by Friday, June 9, 2023. Check the CFF Fluid Control IPO allotment status.
The CFF Fluid Control IPO listing date is on Monday, June 12, 2023.
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