Fly-Hi Maritime IPO
Grey Market Premium (GMP)
Last updated: 4 Sept 2026, 3:30 pm IST
GMP trend over the last 200 readings: rising, from ₹0 to ₹1 (range ₹0 to ₹20).
GMP is an unofficial figure from grey market dealers and is not a guarantee of listing price.
Subscription Status
| Category | Subscription |
|---|---|
| NII | 0.58x |
| Retail (RII) | 3.66x |
| Total | 2.12x |
Bidding day 3 · last updated 4 Sept 2026, 3:30 pm IST
IPO Details
- Open Date
- 1 Sept 2026
- Close Date
- 3 Sept 2026
- Listing Date
- 8 Sept 2026
- Face Value
- ₹5
- Fresh Issue
- ₹39.74 Cr
- OFS
- ₹10.2 Cr
- Listing On
- BSE
- Registrar
- KFin Technologies (KFintech)
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,44,800 |
| HNI (Min) | 3 | 3,600 | ₹3,67,200 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| NII | 24,48,000 | 50% |
| Retail | 24,48,000 | 50% |
| Total | 48,96,000 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 45.41 | 1.82 | 2.68 | 6.09 | 16.47 | 4.84 | — |
| FY 2025 | 45.75 | 3.44 | 5.27 | 9.53 | 23 | 10.03 | — |
| FY 2026 | 62.21 | 8.43 | 12.49 | 17.96 | 37.94 | 12.97 | 8.41 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 12.13x
- P/E (post-issue)
- 17.17x
- RoNW
- 61.29%
- RoE
- 61.29%
- RoCE
- 67.22%
- Debt / Equity
- 0.72
- EPS (pre-issue)
- ₹8.41
- EPS (post-issue)
- ₹5.94
- EBITDA Margin
- 20.14%
- PAT Margin
- 13.58%
- P/BV
- 5.69x
- NAV / share
- ₹17.92
- Market Cap
- ₹144.64 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Funding working capital requirements of the Company | ₹24.24 Cr |
| Repayment and/or pre-payment, in part, of borrowing availed by the Company | ₹4 Cr |
| Towards Business Marketing and Development activities | ₹1.8 Cr |
| General Corporate Purposes | ₹6.37 Cr |
| Issue Expenses | ₹6.03 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Lead Manger Fees, Fees Payable to Registrar to the Issue, Fees Payable to Statutory Auditor and Legal Advisors | ₹0.68 Cr |
| Underwriting Commission, Brokerage and selling commission | ₹5.12 Cr |
| Fees Payable for Advertising and Publishing Expenses, Payment for Printing & Stationery, Postage, etc | ₹0.13 Cr |
| Fees Payable to Regulators including Stock Exchanges | ₹0.09 Cr |
| Others (Commission/processing fee for SCSBs, Sponsor Bank and Banker(s) to the Issue and brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs and Miscellaneous Expenses | ₹0.02 Cr |
Promoters & Shareholding
Promoters: <p>Jitendra Kumar Negi, Mridul Dilip Singhvi</p>
- Holding (pre-issue)
- 80%
- Holding (post-issue)
- 49.48%
- Dilution
- 30.52%
Documents
Lead Managers (BRLMs)
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About the Fly-Hi Maritime IPO
The Fly-Hi Maritime SME IPO is open between 1 Sept 2026 and 3 Sept 2026, offered at an issue price of ₹102 per share, and is set to list on BSE. The IPO seeks to raise ₹52.63 crore. Retail investors bid in lots of 1200 shares, a minimum application of ₹2,44,800.
Issue structure
The offer combines a fresh issue of ₹39.74 crore with an offer for sale (OFS) of ₹10.2 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward funding working capital requirements of the company (₹24.24 crore), alongside general corporate purposes (₹6.37 crore). In all, 5 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Fly-Hi Maritime reported revenue of ₹62.21 crore and a net profit of ₹8.43 crore. Revenue grew from ₹45.41 crore in FY2024 to ₹62.21 crore in FY2026 (+37.0%). Net worth stood at ₹17.96 crore at the end of FY2026. At the upper band, that puts the issue at roughly 12.1× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 17.17× post-issue earnings and 5.69× book value, against a return on net worth of 61.29% and a debt-to-equity ratio of 0.72. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Jitendra Kumar Negi, Mridul Dilip Singhvi</p>. Promoter holding stands at 80% before the issue and comes down to 49.48% after listing.
Grey market premium (GMP)
In the unofficial grey market, Fly-Hi Maritime shares are quoted at a premium of ₹1 implying an expected listing around ₹103, about +1.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Fly-Hi Maritime IPO was subscribed 2.12 times overall. The strongest demand came from retail investors at 3.66 times, with non-institutional investors (NII) at 0.58×.
What to weigh
When evaluating the Fly-Hi Maritime IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Fly-Hi Maritime
Fly-Hi Maritime Travels Ltd is engaged in manages end to end travel arrangements for crew of commercial shipping companies, ensuring that the crew members move seamlessly from their home country to the port of boarding. The company offers travel and logistics-focused company serving maritime and offshore industries. It specializes in crew travel management, ticketing, visa assistance, and global travel coordination. The company offers end-to-end travel solutions for shipping companies, ship managers, and maritime professionals, ensuring timely crew movements, cost optimization, and compliance with international travel requirements. Fly-Hi Maritime Travels Ltd emphasizes reliability, operational efficiency, and personalized service, leveraging industry expertise and strong airline partnerships to support seamless maritime operations worldwide. As on December 16, 2025, the company had 47 employees. Competitive Strengths: Proven Track Record Established Relationships with Customers Skilled and Hardworking Workforce Experienced Management Distributor for better customer servicing
Fly-Hi Maritime — Contact Details
- Registered office
- SF-04, 2nd Floor, Vasant Square Mall, Vasant Kunj, New Delhi, New Delhi, 110070
- Phone
- +91-9152110080
- cs@fhmtravels.in
- Registrar (IPO queries)
- flyhi.ipo@kfintech.com
Frequently asked questions
- What is the Fly-Hi Maritime IPO price band?
- The Fly-Hi Maritime IPO price band is ₹102 per share, with a lot size of 1200 shares.
- What is the Fly-Hi Maritime IPO GMP today?
- The latest grey market premium for the Fly-Hi Maritime IPO is ₹1, implying an expected listing near ₹103. GMP is an unofficial figure and not a guarantee of the listing price.
- When does the Fly-Hi Maritime IPO open and close?
- The Fly-Hi Maritime IPO opens on 1 Sept 2026 and closes on 3 Sept 2026.
- When is the Fly-Hi Maritime IPO allotment and listing date?
- Allotment is expected on 4 Sept 2026. The shares are scheduled to list on 8 Sept 2026 on BSE.
- How many times was the Fly-Hi Maritime IPO subscribed?
- The Fly-Hi Maritime IPO was subscribed 2.12 times in total across all investor categories.
- What is the reservation split in the Fly-Hi Maritime IPO?
- Of the total shares offered, retail investors get 50%, non-institutional investors 50%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Fly-Hi Maritime and what is their holding?
- The promoters are <p>Jitendra Kumar Negi, Mridul Dilip Singhvi</p>. Promoter holding is 80% before the issue and 49.48% after listing.
- What is the P/E ratio of the Fly-Hi Maritime IPO?
- At the upper price band, the Fly-Hi Maritime IPO is valued at 12.13× pre-issue earnings and 17.17× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Fly-Hi Maritime IPO?
- The net proceeds go primarily toward funding working capital requirements of the company, among 5 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Fly-Hi Maritime IPO?
- The book-running lead manager is Corporate Makers Capital Ltd.. KFin Technologies (KFintech) is the registrar to the issue.
- Is Fly-Hi Maritime a Mainboard or SME IPO?
- Fly-Hi Maritime is an SME IPO, listing on BSE (SME platform).