Fly-Hi Maritime Travels IPO
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Fly-Hi Maritime Travels IPO details
Schedule of Fly-Hi Maritime Travels
| Issue open date | 01 Sep 2026 |
| Issue close date | 03 Sep 2026 |
| UPI mandate deadline | 03 Sep 2026 (5 PM) |
| Allotment finalization | 04 Sep 2026 |
| Refund initiation | 07 Sep 2026 |
| Share credit | 07 Sep 2026 |
| Listing date | 08 Sep 2026 |
| Mandate end date | 18 Sep 2026 |
| Lock-in end date for anchor investors (50%) | 03 Oct 2026 |
| Lock-in end date for anchor investors (remaining) | 02 Dec 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Fly-Hi Maritime Travels
Fly-Hi Maritime Travels provides comprehensive end-to-end travel management solutions for the crew of commercial shipping companies, ensuring seafarers move seamlessly from their home countries to ports of boarding. The company manages airline ticketing, ground travel, hotel stay arrangements, visa applications, and immigration formalities, while offering continuous 24/7 support throughout the entire journey. Operating in the specialized maritime travel sector, it absorbs logistical complexity for commercial shipping companies to prevent vessel schedule disruptions, operational delays, and regulatory compliance issues. Revenue is derived from the sale of services, including global crew ticketing, lodging, and visa processing. The company focuses on mid-sized and large commercial shipping enterprises, collaborating with specialized third-party vendors and overseas distributors to deliver tailored international travel arrangements across key global maritime destinations.
Financials of Fly-Hi Maritime Travels
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 52.64 |
| Fresh Issue – Proceeds go to the company | 42.44 |
| Offer for sale – Proceeds go to the existing investors | 10.20 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding working capital requirements | 24.24 (57.12%) |
| Repayment/pre-payment of borrowing | 4 (9.43%) |
| Business marketing and development | 1.8 (4.24%) |
| Issue expenses | 6.03 (14.21%) |
| General corporate purposes | 6.37 (15%) |
Strengths
- Provides comprehensive end-to-end travel solutions for shipping crews.
- Ensures continuous 24/7 travel and transit support for crew members.
- Strong established relationships with large commercial shipping clients.
- Led by highly experienced promoters with deep maritime industry knowledge.
- Effectively absorbs logistical complexities to prevent vessel schedule delays.
Risks
- High revenue dependence on international markets, particularly the UAE.
- Significant revenue concentration from a limited number of top customers.
- Heavy operational reliance on a single exclusive overseas distributor.
- Business requires substantial and continuous working capital to function.
- Pending trademark litigation over the “FLY HI” brand name.
Subscription Figures for Fly-Hi Maritime Travels
Grey Market Premium (GMP) is an unofficial and unregulated metric that may not accurately reflect investor interest. Instead, investors should refer to the IPO subscription data published by the stock exchanges, which is a more reliable indicator of demand.
Subscription numbers as of 05:00 PM on September 01, 2026:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| NII | 24.48 | 0.08 | 0x |
| Retail | 24.48 | 0.52 | 0.02x |
| Total | 48.96 | 0.61 | 0.01x |