CFF Fluid Control IPO will open for subscription from 30 May 2023. the company aims for an issue size of ₹85.80 Cr through this IPO.
Company Overview
| Full name | CFF Fluid Control Limited |
| Sector | Capital Goods |
| Industry | Engineering – Industrial Equipments |
| Company Website | https://cffdefensys.com/ |
About Company
The company is in the business of manufacturing and servicing shipboard machinery, critical component systems, and test facilities for submarines & surface ships for The Indian Navy. CFF Fluid Control also designs, manufactures, and services mechanical equipment and systems for industries like Nuclear and Clean Energy.
Soon after its inception, the company signed a TOT (Transfer of Technology) agreement with Coyard SAS France for the design, manufacture, and supply of mechanical components for the Scorpene submarine program. The company has completed orders from Indian Navy (including its OEMs) worth INR 186.8 crore until December 2022 and has a robust order book of INR 90 crore. Over 90 % of it pertains to Indian Navy and its OEMs.
The company employs 33 at its facilities at Khopoli where it designs, manufactures, and services 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. The 6,000 sq. mtrs. The facility has state-of-the-art machinery and testing facilities and is approved by the Indian Navy, MDL & Naval Group (France), and has ISO 9001:2015 certification for quality management systems.
The Objective of the Issue
- Funding Working capital requirements
- Repayment of Loans
- Purchase of machinery and equipment
- Acquire Technology of ” Towed Wire Antenna (TWA)”
- General Corporate Purpose
IPO Timetable
| IPO Opening date | 30 May 2023 |
| IPO Closing | 02 June 2023 |
| Basis of Allotment | 07 June 2023 |
| Initiation Refund | 08 June 2023 |
| Credit to Demat Account | 09 June 2023 |
| Listing Date | 12 June 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹85.80 Cr – 5,200,000 shares |
| Fresh Issue | ₹85.80 Cr – 5,200,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹165 per share |
| Lot size | 800 Shares |
| Market Maker portion | 260,800 shares |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹132,000 |
| Retail (Max) | 1 | 800 | ₹132,000 |
| HNI (Min) | 2 | 1,600 | ₹264,000 |
Reservation Details
| Other Shares Offered | 2,600,000 (52.64%) |
| Retail Shares Offered | 2,339,200 (47.36%) |
| Total Shares Offered | 4,939,200 |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | 9M FY 2023 | |
| Revenue | 31.78 | 14.52 | 46.99 | 50.77 |
| Expenses | 30.16 | 14.55 | 36.68 | 41.24 |
| Net income | 1.33 | 0.25 | 7.80 | 7.18 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 0.93 | 0.17 | 5.46 |
| PE ratio | – | – | 30.22 |
| RONW (%) | 19.58 | 3.50 | 52.56 |
| NAV | 4.76 | 4.93 | 10.39 |
| ROCE (%) | 17.66 | 6.22 | 36.81 |
| EBITDA (%) | 16.30 | 21.14 | 26.81 |
| Debt/Equity | 2.11 | 3.21 | 1.12 |
Company Promoters
- Sunil Menon
- Gautam Makkar
Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 73.30% |
Lead Manager(s)
ARYAMAN FINANCIAL SERVICES LIMITED
60, Khatau Building, Ground Floor,
Alkesh Dinesh Modi Marg, Fort,
Mumbai – 400 001
Phone: +91 22 – 6216 6999
Email: ipo@afsl.co.in
Website: www.afsl.co.in
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
CFF FLUID CONTROL LIMITED
503, Delphi, A Wing,
Orchard Avenue, Hiranandani Business Park,
Powai, Mumbai-400076
Phone: 22 – 40021599
E-mail: compliance@cffdefensys.com
Website: www.cffdefensys.com
Allotment Status
CFF Fluid Control IPO allotment status will be available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.
Final thoughts
CFF Fluid Control IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
