CFF Fluid Control Limited launches a fixed-price BSE SME IPO of ₹87.75 crore at ₹585 per share. The issue runs from July 9–11, 2025.

This guide covers the company’s business, IPO structure, price, lot size, objectives, GMP, financials, and our recommendation.

Company Overview

✅ CFF Fluid Control offers cutting-edge technology and engineering solutions for India’s defence sector.

⭐ Key product and capability highlights:

• Mechanical and fluid control equipment for submarines.

• Technology Transfer (TOT) with Coyard SAS France for advanced fluid control systems on Indian Navy submarine projects.

⚙️ Clients include major defence programs in India, ensuring strategic sector positioning.

Promoter & Management

The company is led by Mr. Sunil Menon and Mr. Gautam Makker, who bring:
✔️ 30+ years of business experience each
✔️ 20+ years of dedicated defence sector expertise

✅ This leadership has driven CFF Fluid Control’s consistent growth.

IPO Structure & Details

Important IPO Dates

Grey Market Premium (GMP)

✅ As of July 9, 2025, the GMP is ₹50, suggesting 8.54% premium over the IPO price.

Note: GMP is purely indicative, unregulated, and may change before listing.

IPO Subscription Status (Live Update)

✅ As of 11:30 AM on July 9, 2025 (First Day):

• Overall Subscription: 0.24 times

Investors can check live updates on the BSE SME platform.

Objectives of the IPO

CFF Fluid Control will utilise net proceeds as follows:

1️⃣ ₹72.60 crore – Funding working capital requirements
2️⃣ ₹8.33 crore – General corporate purposes

⭐ The funds aim to strengthen operational scale and production capacity for India's growing defence needs.

Lead Manager & Market Maker

• Book Running Lead Manager: ARYAMAN FINANCIAL SERVICES LIMITED

• Registrar: CAMEO CORPORATE SERVICES LIMITED

• Market Maker: Aryaman Capital Markets Limited

Their participation ensures smooth execution on the SME platform.

Financial Performance

CFF Fluid Control has delivered strong, consistent growth:

✅ Revenue more than doubled in two years
✅ Steady EBITDA and PAT growth

Valuation Metrics

✅ Fairly priced vs. Industry P/E.
✅ Good returns on capital employed and equity.

Strengths

⭐ Strategic alignment with India’s defence modernisation
⭐ Proven partnership with Coyard SAS France
⭐ Robust revenue and profit growth
⭐ Experienced promoter team
⭐ Essential role in submarine and naval programs

Risks

⚠️ High ticket size for SME (₹2.34 lakh minimum retail investment)
⚠️ SME board liquidity can be limited
⚠️ High dependency on defence orders and government budgets
⚠️ Working capital intensity in the defence supply chain

Allotment & Listing

✅ Allotment Date: July 14, 2025
✅ Listing Date: July 16, 2025 on BSE SME

How to check allotment:
1️⃣ Go to Registrar’s website (CAMEO Corporate Services)
2️⃣ Select "CFF Fluid Control Limited IPO" from dropdown
3️⃣ Enter Application Number, PAN, or DP Client ID
4️⃣ Submit to view allotment status

Analyst View: Should You Subscribe?

✅ GMP of ₹50 suggests ~8.5% listing gain potential
✅ Defence sector tailwinds and growth prospects
✅ Strong order book and French technology partnership
✅ Financials showing solid, steady growth

Our recommendation:
✔️ Apply for listing gains, especially for Risk-Tolerant Investors.
✔️ Medium-term investors may also see upside as defence spending rises.

Disclaimer:

This article is intended for informational and educational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisor before making any investment decisions. Investments in securities are subject to market risks. Please read all related documents carefully before applying for the IPO. The data provided is based on publicly available information and may be subject to change.

The Upcoming IPOs in this week and coming weeks are NSDL, Anthem Biosciences, Spunweb Nonwoven, Smartworks Coworking, Asston Pharmaceuticals.

The Current active IPO are CFF Fluid Control, Anthem Biosciences, Glen Industries, Smarten Power Systems, Travel Food Services, Chemkart India.

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