SME IPO tracker: Infollion Research offer subscribed 5.68 times; CFF Fluid Control issue subscribed 54% so far

The initial share sale of Infollion Research was subscribed 5.68 times so far on Day 2, with just one day remaining. The issue closes on May 31.

The share sale comprises fresh issue of 22.24 lakh units and an offer for sale of up to Rs 3.92 lakh shares. The price band for the IPO is fixed as Rs 80-82 per unit and at the upper end, the company plans to raise up to Rs 21.45 crore.

Infollion Research Services operates in the B2B human cloud segment. It is a tech-oriented marketplace catering to on-demand contingent hiring and work arrangements with senior management talent, subject matter experts, and high-ranking, seasoned professionals.


The net proceeds from the IPO will be utilised to fund expansion of the current service line in the US and Western European region, adding new categories of freelancer and technology development.

The lead manager to the issue is Holani Consultants Limited and the registrar is Link Intime India.

Meanwhile, the IPO of CFF Fluid control was subscribed 54% so far on Day 1. The issue has received bids for 28.2 lakh shares as against 52 lakh shares on offer.

The offer is completely a fresh issue of equity shares of up to 52 lakh of face value of Rs 10 each. The company has set a price band of Rs 165 per equity unit for its Rs 85.80-crore IPO.

The company is primarily in the business of manufacturing and servicing of shipboard machinery, critical component systems and tests facilities for submarines and surface ships for The Indian Navy.

Further it also designs, manufactures and services mechanical equipment and systems for industries like nuclear and clean energy.

The net proceeds from the IPO will be used to fund working capital requirements, repayment of loans, purchase of machinery and equipment and other general corporate purposes.

The lead manager to the issue is Aryaman Financial Services and the registrar is Cameo.