July 16, 2025
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Subscription Status
| CFF Fluid IPO Subscription (Closed on 11/7) | ||||
| QIB | NII x | RII x | Total x | Applications |
| – | 10.06 | 6.34 | 8.45 | 15,261 |
| Subscription Review: Weak Response on Day 3 |
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What is the business of CFF Fluid Control FPO?
CFF Fluid Control Ltd: Powering India’s Underwater Defence
CFF Fluid Control Ltd is a key player in India’s defence manufacturing ecosystem, specializing in the design, production, and servicing of high-precision submarine machinery and advanced systems for Defence PSU Shipyards. With a sharp focus on undersea warfare capabilities, the company delivers mission-critical components and turnkey solutions that support India’s maritime strength.
Its robust product lineup includes state-of-the-art fluid control systems, air panels, weapon & control systems, propulsion and steering gear units, high-pressure air systems, hydraulics, and breathing/diving air solutions—each engineered to meet the stringent demands of naval operations.
Strategically located at Khopoli, the company’s 6,000 sq. metre manufacturing facility is equipped with advanced machinery and comprehensive testing setups. To scale its capabilities, CFF is developing an additional facility in the Chakan Industrial Area, Pune, spread across 1,950 sq. metres, aimed at producing complex, high-performance systems.
Adding to its strategic edge, CFF Fluid Control has collaborated with global technology leader Atlas Elektronik GmbH to manufacture 12 low-frequency variable depth sonar (LFVDS) systems. These are destined for India’s Anti-Submarine Warfare Shallow Water Craft program—further cementing CFF’s role in enhancing India’s naval preparedness.
With innovation, precision, and national service at its core, CFF Fluid Control Ltd is truly shaping the future of India’s underwater defence systems.
CFF Fluid Control FPO Details
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Sector: |
|
| IPO opens on | 9 July 2025 |
| IPO closes on | 11 July 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1500,000 Shares / Rs 87.75 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – Shares/ Rs.? Crore |
| Market Maker Portion | 78000 Shares |
| Net offer to Public | 1422,000 Shares Rs.83.19 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 585 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 200 Shares |
| Listing will at | BSE SME |
| Investor Category | Shares Offered | % | Rs. in Cr. |
| Market Maker | 78000 | ||
| QIB Shares | 711000 | 41.59 | |
| NII (HNI) | 213300 | 12.48 | |
| Retail | 497700 | 29.12 | |
| Total | 1500000 | 100 | 87.75 |
| Application | Lots | Shares | Amount, Rs. |
| Retail (Min) | 2 | 400 | 234,000 |
| Retail (Max) | 2 | 400 | 234,000 |
| HNI (Min) | 3 | 600 | 351,000 |
Who are the Promoters of CFF Fluid Control FPO?
The company’s promoters are Sunil Menon and Gautam Makker. Prior to this IPO, the promoters hold 73.31% shares
What are the Objects of CFF Fluid Control FPO?
*Funding working capital requirements Rs. 72.60 Cr.
*General Corporate Purpose Rs. 8.34 Cr.
CFF Fluid Control FPO Timetable
Tentative timetable |
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| IPO opens on | 9 July 2025 |
| IPO Closes on | 11 July 2025 |
| IPO Allotment on | 14 July 2025 |
| Refund Initiation | 15 July 2025 |
| Credit of Shares | 15 July 2025 |
| Listing on | 16 July 2025 |
| Registered Office of the Company CFF FLuid Control Limited Plot No 01, Survey No 96 Kumbhivli Madap Khopoli, Khalapur, Raigarh Khalapur, Maharashtra, 410203 |
| The Lead Manager of this IPO Aryaman Financial ltd |
| Who is the Registrar to the IPO? Cameo Corporate Services ltd |
CFF Fluid Control FPO IPO GMP grey market premium, review, Subscription, allotment, listing estimate
CFF Fluid Control Financials
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 199.03 | 161.16 | 88.68 |
| Revenue | 146.1 | 106.98 | 71.1 |
| Profit After Tax | 23.85 | 17.09 | 10.14 |
| EBITDA | 41.31 | 30.85 | 18.83 |
| Net Worth | 147.84 | 125.94 | 24.99 |
| Reserves and Surplus | 128.37 | 106.46 | 10.72 |
| Total Borrowing | 21.11 | 23.48 | 45.9 |
| Amount in Rs. Crore | |||
Performance Indicators
| KPI | Values |
| ROE | 17.42% |
| ROCE | 21.84% |
| RoNW | 16.13% |
| PAT Margin | 16.39% |
| EBITDA Margin | 28.38% |
How CFF Fluid Control FPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| CFF Fluid Control | 47.76 | 16.13 |
| Data Patterns (India) | 73.17 | 14.71 |
| MTAR Technologies | 92.33 | 7.26 |
| Bharat Electronics | 59.38 | 26.65 |
| Paras Defence and Space Technologies | 101.6 | 9.61 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
CFF Fluid Control FPO Review by Paresh Gordhandas, CA & Research Analyst.
Will update soon
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Fundamental Perspective:
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Grey Market Sentiment: [Pending]
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