June 12, 2023
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CFF Fluid Control IPO Particulars & Guidance at Chanakyanipothi.com,
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CFF Fluid Control IPO Review:
Defence related strong business. Looking to the profits of the year prior to the IPO, valuation is reasonable. The lead manager is known for positive listings. Must Apply SME IPO.
What is the GMP of CFF Fluid Control IPO?
Prior to listing
GMP: Rs. 1
Kostak Rs. –
Subject to Rates: –
CFF Fluid Control IPO Subscription Status
On 2 June 2023 @ 5.00 (Closed)
NII: 2600000 Shares 02.58 T
RII: 2339200 Shares 01.67 T
Total: 4939200 Shares 02.15 T
CFF Fluid Control IPO Particulars & Guidance:
About the business
The company is primarily in the business of manufacturing and servicing of shipboard machinery, critical
component systems and test facilities for submarines & surface ships for The Indian Navy. Further it also designs, manufactures and services Mechanical Equipments and systems for industries like Nuclear and Clean Energy.
Its promoters and group companies have been in the defence manufacturing space for more than 20 years. The company was incorporated with a purpose of having dedicated new entity focussed on meeting the growing requirements of Indian Navy, Mazagaon Dockyard and Shipbuilders Limited (MDL) for manufacturing and supplying mechanical equipment for the “Scorpene” Submarine Program of India. Soon after inception, a TOT (Transfer of Technology) was signed between CFF and Coyard SAS France for design, manufacture and supply of Mechanical Components for the Scorpene submarine program. The TOT was approved by relevant authorities and after factory inspection; our company was awarded license for production of mechanical components for the Scorpene Submarine Program.
Its facilities are situated at Khopoli from where we design, manufacture and service 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 spread over 6,000 sq. mtrs. and has all the relevant state of the art machinery and testing facilities. Our facility is approved by Indian Navy, MDL & Naval Group (France) and has ISO 9001:2015 certification for quality management systems.
Since incorporation, up to September 30, 2022, it has completed orders from Indian Navy (including its OEMs) worth Rs. 17,500 lakhs and we have a robust order book as on September 30, 2022 of Rs. 10,182.79 lakhs of which over 90 % pertains to orders from Indian Navy (including its OEMs).
Get more information about the company @ www.cffdefensys.com
| CFF Fluid Control IPO Details | |
| IPO opens on Tentative | 30 May 2023 |
| IPO closes on | 2 June 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 5200000 Sh /Rs 85.80Cr |
| * Fresh Issue | 5200000 Sh /Rs 85.80 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs.165 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 800 Shares |
| Listing will at | NSE SME |
| Shares offered to | ||
| Shares | Rs. (Cr) | |
| QIB (50%) | – | – |
| NII (15%) | 2469600 | – |
| RII (35%) | 2469600 | – |
| Total Shares | 4939200 | 81.50 |
| Retail portion will be oversubscribed by | 3087 | |
| Forms | ||
| How much Shares to Apply in CFF Fluid Control IPO? | ||
| Min Retail Application | 800 Sh | Rs. 132000 |
| Min HNI Application | 1600 Sh | Rs. 264000 |
Who are the Promoters of CFF Fluid Control IPO?
Sunil Menon and Gautam Makkar
What are the Objects of CFF Fluid Control IPO?
The Company proposes to utilize the Net Proceeds from the Issue for
1. Funding Working capital requirements;
2. Repayment of Loans;
3. Purchase of machinery and equipment;
4. Acquire Technology of “Towed Wire Antenna (TWA)”
| IPO Tentative timetable | |
| IPO opens on | 30 May 2023 |
| IPO Closes on | 2 June 2023 |
| IPO Allotment on | 8 June 2023 |
| Unblocking of ASBA | 9 June 2023 |
| Credit of Shares | 10 June 2023 |
| Listing on | 12 June 2023 |
| Registered Office of the Company Plot No 01, Survey No 96, Kumbhivli Madap Khopoli, Khalapur, Raigarh-410203 |
| Who are the Lead Managers of CFF Fluid Control IPO? |
| ARYAMAN FINANCIAL SERVICES Ltd. |
| Who is the Registrar to IPO? |
| CAMEO CORPORATE SERVICES Ltd |
| IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2019-20 | 31.96 | 1,35 | 0.94 | 19.78 |
| 2020-21 | 14.81 | 0.25 | 0.17 | 3.49 |
| 2021-22 | 47.12 | 7.80 | 5.46 | 52.51 |
| Book Value of the Share on | 31.03.2022 | Rs.208.12 | ||
| Book Value of the Share | after the IPO | Rs.- | ||
| Offer Price | Rs. 165 | |||
| CFF Fluid Control IPO Key Performance indicators |
|
| Upper Price/last EPS | 30.22 |
| Upper price/BV Ratio | ? |
| Upper price/BV after IPO | – |
–
IPO Particulars & Guidance
Peer Comparison:
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| The IPO Company | 10 | 46.99 | ? |
| Data Patterns | 2 | 310.85 | 67.61 |
| MTar Technologies | 10 | 322.01 | 87.03 |
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