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  1. Asston Pharmaceuticals, CFF Fluid Control IPOs open for subscription; check key details

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Asston Pharmaceuticals, CFF Fluid Control IPOs open for subscription; check key details

Upstox

2 min read | Updated on July 09, 2025, 10:03 IST

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SUMMARY

Pharma player Asston Pharmaceuticals' initial share sale is exclusively a fresh issuance of 22.41 lakh shares aggregating to ₹27.56 crore.

CFF Fluid Control IPO, which is a fixed-price issue at ₹585 per share, consists of new equity shares valued at ₹87.75 crore. | Image: Shutterstock

CFF Fluid Control IPO, which is a fixed-price issue at ₹585 per share, consists of new equity shares valued at ₹87.75 crore. | Image: Shutterstock

Two initial public offerings – Asston Pharmaceuticals Ltd and CFF Fluid Control Ltd – opened for public subscription on Wednesday, July 9.

Their allotment statuses will be finalised on July 14, while listings will occur on the BSE SME platform on July 16.

Asston Pharmaceuticals IPO

Pharma player Asston Pharmaceuticals' initial share sale is exclusively a fresh issuance of 22.41 lakh shares aggregating to ₹27.56 crore.

The funds raised will be used for capital expenditure needs to acquire machinery in the manufacturing plant, incremental working capital needs, repaying certain outstandings and general corporate purposes.

The price band has been fixed at ₹115 to ₹123 per share, requiring a minimum of two lots, consisting of 2,000 shares, for individual investors.

Sobhagya Capital Options Ltd is the issue's book-running lead manager, while Maashitla Securities is the registrar.

Prior to the IPO, promoters Dr Ashish Narayan Sakalkar, Sachin Chandrakant Badakh, and Saili Jayaram More's shareholding stood at 68.76%, which will be reduced to 50.66% post-issue.

Asston Pharmaceuticals manufactures and exports pharmaceutical formulations and nutraceutical products in domestic as well as various African markets.

CFF Fluid Control IPO

CFF Fluid Control IPO, which is a fixed-price issue at ₹585 per share, consists of new equity shares valued at ₹87.75 crore. Individual investors can apply for 200 shares.

The net proceeds from the issue are towards funding working capital requirements and covering general corporate purposes.

CFF Fluid Control manufactures and services submarine machinery, key component systems and test facilities for Indian Defence public sector undertaking (PSU) Shipyard. Its product portfolio includes distributors and air panels, fluid control systems, weapons and control systems, propulsion systems, steering gear, high-pressure air systems, breathing and diving air systems, hydraulic systems, etc.

The company's promoters, Sunil Menon and Gautam Makker, hold 73.31% of the shares in the firm, which will be reduced to 68.06% post-issue.

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