CFF Fluid Control, which manufactures and services submarine machinery, critical component systems and test facilities for Indian defence PSU shipyard, is set to hit Dalal Street with its follow-on-public-offering next week, with offer price of Rs 585 per share.
The fixed price issue will open for subscription on July 9 and close on July 11. This follows the FPO share allotment which will get finalised by July 14.
CFF Fluid Control shares will be available for trading on the BSE SME, effective July 16.
The FPO consists of solely fresh issue of 15 lakh shares worth Rs 87.75 crore.
CFF Fluid Control intends to utilise Rs 72.6 crore out of fresh issue proceeds for its working capital requirements, and Rs 8.33 crore for general corporate purpose.
The company that competes with listed peers like MTAR Technologies, Data Patterns, Bharat Electronics, and Paras Defence & Space Technologies has order book of Rs 514 crore of which over 90 percent related to Indian Defence PSU Shipyard.
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Currently, it operates business through its manufacturing facilities at Khopoli, Maharashtra which is entirely catering to the requirements of Indian Defence PSU shipyard for manufacturing and supplying mechanical equipment for the 'Scorpene' submarine program of India.
Further, it has an additional manufacturing facility in pipeline at Chakan, Pune. "We plan to initially introduce this exclusive manufacturing setup for production of critical and complex systems such as towed array sonar in agreement with German partner," CFF Fluid Control in its prospectus said.
The company has joint venture with Atlas Elektronik GmbH, a division of the German defense giant Thyssenkrupp Marine Systems, to produce 12 low-frequency variable depth sonars (LFVDS) for the Indian defence PSU Shipyard‘s antisubmarine warfare (ASW) shallow water craft (SWC) program.
On the financial front, CFF Fluid Control has recorded net profit at Rs 23.85 crore for the year ended March 2025, growing 39.6 percent, and revenue at Rs 145.56 crore, increasing 36.2 percent over the previous fiscal. EBITDA (earnings before interest, tax, depreciation, and amortisation) soared 32.6 percent to Rs 40.8 crore, but margin dropped 75 bps to 28.01 percent during the same period.
Aryaman Financial Services is the sole book running lead manager appointed to handle the CFF Fluid Control FPO.
CFF Fluid Control shares traded at Rs 618.20 on the BSE SME, down 2.27 percent on July 3.
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