CFF Fluid Control Ltd IPO

Further public offer of 15,00,000 equity shares of Rs. 10/- each ("Equity Share") of CFF Fluid Control Limited ("CFF" or the "Company") for cash at a price of Rs. 585 per share (the "Issue Price"), aggregating to Rs. 87.75 crores ("the Issue"), of which [*] equity shares of Rs. 10/- each will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less market maker reservation portion i.e. issue of 14,22,000 equity shares of Rs. 10/- each is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute 7.15 % and 6.78 % respectively of the powt issue paid up equity share capital of the company.

CFF Fluid Control Limited was incorporated as Flash Forge Fluid Control Private Limited on February 16, 2012 with the Registrar of Companies. Further, name of the Company was changed from Flash Forge Fluid Control Private Limited to CFF Fluid Control Private Limited dated September 21, 2012. The Company was changed to Public limited and name of the Company changed to CFF Fluid Control Limited vide Special Resolution dated September 05, 2022 and a fresh Certificate of Incorporation consequent upon conversion to Public Limited was issued on September 15, 2022 by the Registrar of Companies, Mumbai, Maharashtra. The Company is primarily in the business of manufacture, overhaul,repairs and servicing of shipboard machinery, critical component systems, reference systems and test facilities like pnueumatic,hydraulic, electrical, electronic systems for submarines & surface ships for the Indian Navy. Further it also design, manufacture and service Mechanical Equipments and systems for industries like Nuclear and Clean Energy. Their facilities are situated at Khopoli from where they 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. The Company has State of Art manufacturing facility at its factory and is capable of handling welding and fabrication of special materials like Titanium and High Nicle-Chromium materials which are used in submarine, nuclear and space applications. Other equipment such as Tig Welding Machine, Water jet cutting machines, Heat treatment furnaces etc are available to support the fabrication works. Design software complement the CAD-CAM environment required for manufacturing the components. The plant is fully geared with latest technologies to provide competitive edge in the industry and is also compliant with the laws and licenses applicable on it. The key defence sector projects which the Company is a part of supply and servicing of equipments comprises mainly for SSK Class Submarine, Kalveri Class Submarine and Kilo Class Submarine. It also employ industry professionals for project specific works on professional basis from time to time. In addition, we have a framework agreement with Naval Group (France) and Minerva for providing complete service support to various systems of the Scorpene submarines. It has built design and engineering department and ventured into complete system integration. In the above process products are prototyped, developed, functionally tested, validated, environmentally tested in compliance with stringent requirements of the Defence and Nuclear Industry. It has separate division that undertakes repairs and overhaul of valves and equipment delivered by the suppliers. Presently, CFF is undertaking ship system design, manufacturing and integration. The systems include the High Pressure Air system, Hydraulic systems, HVAC systems, Engine air intake and Engine exhaust systems, Infrared suppression systems. In defence manufacturing there is a concept of 'Authorized Equipment Manufacturer', which means that a particular item whose Authorized Equipment Manufacturer is allocated to a vendor needs to be procured from said vendor only until the completion of the life cycle of the submarine or ship. The Company focused 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; and Company was awarded license for production of mechanical components for the Scorpene Submarine Program. In 2022, Company established strategic partnerships with foreign Manufacturers i.e. M/s Nereides of France and M/s Minerva Issartel of France to bring technology which is not available in India. In FY 2025, Company has commenced trial development and production of Buoyant Wire Antennas, replacing imports for submarine communications. The Pune Plant has been operationalized for weapon systems and sensor production. The Company built various components and developments including HVAC systems, fluid components and Prototype testing. FY 25 saw various breakthroughs in Electronic systems for ships & submarines, turnkey solutions for weapon sensors and production of IR supression systems for Indian Navy.