CFF Fluid Control Ltd is engaged in the manufacturing and servicing of submarine machinery, critical component systems, and test facilities for the Indian Defence PSU Shipyards, particularly for programs like the Scorpene Submarine Program.
🔹 Core Offerings Include:
- Fluid Control Systems
- Distributors and Air Panels
- Weapons and Control Systems
- Steering Gears
- Propulsion Systems
- High-Pressure Air Systems
- Hydraulic Systems
- Breathing & Diving Air Systems
- Integrated Platform Management Systems
🔹 Manufacturing Facilities:
- Primary Plant: Khopoli, Maharashtra (6,000 sq. meters), fully equipped with advanced machinery and testing infrastructure.
- Upcoming Plant: Chakan, Pune (1,950 sq. meters), for critical & complex systems like Towed Array Sonar Systems.
🔹 Strategic Collaboration:
CFF has tied up with Atlas Elektronik GmbH (a part of Germany’s Thyssenkrupp Marine Systems) to produce 12 Low-Frequency Variable Depth Sonars (LFVDS) for India’s Anti-Submarine Warfare (ASW) Shallow Water Craft program. This supports India’s defense indigenization and self-reliance mission.
🔹 Diversification:
Besides defense, CFF also designs and services mechanical systems for nuclear and clean energy sectors.
🔹 Order Book (as of May 31, 2025):
₹ 513.96 Cr, with 90%+ orders from Indian Defence PSU Shipyards and their OEMs.
CFF Fluid Control FPO – Details
| IPO Opening Date | 09 July 2025 |
| IPO Closing Date | 11 July 2025 |
| Issue Type | Fixed Price FPO |
| Issue Size | Total Issue: 15,00,000 Shares Worth ₹87.75 Crore Fresh Issue: 15,00,000 Shares Worth ₹87.75 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹585 per share |
| Market Lot | 200 Shares |
| Min Order | 200 Shares ( 1 Lot ) |
| Listing At | BSE SME |
| Registrar | Cameo Corporate Services Limited |
| NII (HNI) Shares Offered | 50% |
| Retail Shares Offered | 50% |
CFF Fluid Control FPO – Date Schedule
| IPO Open Date | 09 July 2025 |
| IPO Close Date | 11 July 2025 |
| Basis of Allotment | 14 July 2025 |
| Initiation of Refund | 15 July 2025 |
| Credit of Shares to Demat | 15 July 2025 |
| IPO Listing Date | 16 July 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 11, 2025 |
CFF Fluid Control FPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 400 | ₹2,34,000 |
| Retail (Max) | 2 | 400 | ₹2,34,000 |
| HNI (Min) | 3 | 600 | ₹3,51,000 |
Competitive Strengths
- Robust order book value: Rs Rs. 51,396.87 lakhs as of May 31, 2025.
- High entry barrier in the defence manufacturing industry.
- Strategic partnership with foreign manufacturers i.e., M/s Nereides, M/s Atlas Elektronik GmbH.
- Experienced promoters and managers.
Company Promoters
- Sunil Menon
- Gautam Makker
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹71.10 Cr | ₹56.70 Cr | ₹10.14 Cr | ₹45.90 Cr |
| 31 March 2024 | ₹106.98 Cr | ₹82.97 Cr | ₹17.09 Cr | ₹23.48 Cr |
| 31 March 2025 | ₹146.10 Cr | ₹113.16 Cr | ₹23.85 Cr | ₹21.11 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 17.42% |
| ROCE | 21.84% |
| RoNW | 16.13% |
| PAT Margin | 16.39% |
| EBITDA Margin | 28.38% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | – | – |
| P/E (x) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding Working capital requirements. | ₹72.60 |
| General Corporate Purposes. | ₹8.34 |
✅Strengths
- Specialist in submarine and naval defence systems.
- Strong partnership with Germany’s Atlas Elektronik GmbH.
- Fully integrated in-house design & manufacturing.
- Aligned with Make in India and defence indigenization.
- High entry barriers in defence sector.
- ₹514 Cr+ order book (90% from Defence PSUs).
⚠️Risks
- Heavy reliance on Govt. defence orders.
- Raw material price fluctuations.
- Forex and import dependency.
- Tech/IP and cyber risks.
- Growth execution challenges.
CFF Fluid Control FPO Promoter Holding
| Pre Issue Share Holding | 73.31% |
| Post Issue Share Holding | 68.06% |
CFF Fluid Control FPO Prospectus
Company Contact Information
| CFF Fluid Control Limited Plot No 01, Survey No 96 Kumbhivli Madap Khopoli, Khalapur, Raigarh Khalapur, Maharashtra, 410203 Phone: +91-2246086806 Email: compliance@cffdefensys.com Website: http://www.cffdefensys.com/ |
CFF Fluid Control FPO Registrar
| Cameo Corporate Services Limited Phone: +91-44-28460390 Email: priya@cameoindia.com Website: https://ipo.cameoindia.com/ |
CFF Fluid Control FPO Lead Manager(s)
| 1. Aryaman Financial Services Limited |
CFF Fluid Control FPO FAQ
| What is CFF Fluid Control FPO? CFF Fluid Control FPO is a SME IPO. The issue is priced at ₹585 per equity share. The IPO is to be listed on BSE SME. |
| When CFF Fluid Control FPO will open? The IPO is to open on 09 July 2025 for QIB, NII, and Retail Investors. |
| What is CFF Fluid Control FPO Investors Portion? The investors’ portion for NII – 50%, and Retail – 50%. |
| How to Apply the CFF Fluid Control FPO? You can apply CFF Fluid Control FPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the CFF Fluid Control FPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “CFF Fluid Control FPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the CFF Fluid Control FPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “CFF Fluid Control FPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the CFF Fluid Control FPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “CFF Fluid Control FPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the CFF Fluid Control FPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “CFF Fluid Control FPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is the CFF Fluid Control FPO Size? CFF Fluid Control FPO size is ₹87.75 Crore. |
| What is the CFF Fluid Control FPO Price Band? CFF Fluid Control FPO Price Band is ₹585. |
| What is CFF Fluid Control FPO Minimum and Maximum Lot Size for Retail? The minimum bid is 400 Shares with ₹2,34,000 amount, while the maximum bid is 400 Shares with ₹2,34,000. |
| What is the CFF Fluid Control FPO Allotment Date? CFF Fluid Control FPO allotment date is 14 July 2025. |
| What is the CFF Fluid Control FPO Listing Date? CFF Fluid Control FPO listing date is 16 July 2025. The IPO is to be listed on the BSE SME. |
