Fly-Hi Maritime Travels Ltd. IPO
Price Band
₹102 – ₹102
Issue Size
₹52.63 Cr
Issue Dates
1 Sept – 3 Sept 2026
Listing Date
8 Sept 2026
About Fly-Hi Maritime Travels Ltd.
Incorporated in September 2021, Fly-Hi Maritime Travels Limited is a specialized maritime travel company engaged in providing end-to-end crew travel and mobility solutions for commercial shipping companies. The Company manages travel arrangements for seafarers from their home countries to their designated ports of boarding, including airline ticketing, route planning, ground transportation, hotel bookings, visa coordination and 24/7 travel support. The Company offers customized travel solutions designed around vessel schedules, crew joining windows and the requirements of multinational shipping crews. Its services include global crew ticketing, visa and immigration coordination, OK-to-board confirmations, real-time travel monitoring, disruption handling, emergency support and boarding confirmation. The Company operates through a centralized operational model, with its operations managed from its Mumbai corporate office, while also having a distributor in the UAE to support certain international customers. Fly-Hi Maritime Travels serves commercial shipping companies across more than six countries, including Cyprus, Greece, the USA, the UK, Singapore, UAE and India. The Company is an International Air Transport Association (IATA) accredited company and its registered office has been recognized as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT). As of July 31, 2026, the Company had a workforce of 54 employees across travel operations, marketing and sales, visa operations, finance, IT, HR and other support functions.
IPO Details
| Price Band | ₹102 – ₹102 |
| Face Value | ₹5 |
| Issue Size | ₹52.63 Cr |
| Fresh Issue | ₹42.44 Cr |
| Offer for Sale | ₹10.2 Cr |
| Total Shares Offered | 51,60,000 |
| Listed On | BSE |
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: (1) Funding working capital requirements of the Company - Rs. 24.24 Cr; (2) Repayment and/or pre-payment, in part, of borrowing availed by the Company - Rs. 4.00 Cr; (3) Towards Business Marketing and Development activities - Rs. 1.80 Cr; (4) General Corporate Purposes - Rs. 6.37 Cr; (5) Issue Expenses - Rs. 6.03 Cr. Total: Rs. 42.44 Cr. The issue comprises a fresh issue of 41,60,400 equity shares (including 2,64,000 shares reserved for the Market Maker) and an offer for sale of 9,99,600 equity shares of Rs. 5 each by Jitendra Kumar Negi (Promoter), aggregating Rs. 10.20 Cr.
Key Financial Metrics
EPS (Basic)
₹8.41
P/E Ratio
12.13x
ROE
61.29%
ROCE
67.22%
Debt / Equity
0.72
Financial Performance
| Particulars (₹ Cr) | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | — | — | — |
| EBITDA | 2.68 | 5.27 | 12.49 |
| PAT | 1.82 | 3.44 | 8.43 |
| Total Assets | 16.47 | 23 | 37.94 |
| Net Worth | 6.09 | 9.53 | 17.96 |
| Total Borrowings | 4.84 | 10.03 | 12.97 |
Valuation
Market Capitalisation
P/E Ratio
Promoter Holding
Public Holding
Lot Size & Allocation
Investment by Category
| Category | Lot Size | Min Investment | Max Investment |
|---|---|---|---|
| retail_min | 2 × 1200 | ₹2,44,800 | — |
| retail_max | 1200 shares | — | ₹2,44,800 |
| shni_min | 3 × 1200 | ₹3,67,200 | — |
Reservation / Allocation
| Category | Allocation | Cut-off |
|---|---|---|
| NII (HNI) Shares Offered | 50% | No |
| Retail Shares Offered | 50% | Yes |
| Market Maker (Firm Reservation) | 5.12% | No |
Registrar & Lead Managers
Peer Comparison
| Company | Listed | Mkt Cap (₹ Cr) | EPS (₹) | P/E | ROE % |
|---|---|---|---|---|---|
| Fly-Hi Maritime Travels Ltd. IPO (this IPO) | — | 144.64 | ₹8.41 | 12.13x | 61.29% |
| UHM Vacation Ltd. | Yes | — | — | 11.32x | — |
| Western Overseas Study Abroad Ltd. | Yes | — | — | 10.67x | — |
| Helloji Holidays Ltd. | Yes | — | — | 14.07x | — |
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