PNN

Mumbai (Maharashtra) [India], August 31: Fly-Hi Maritime Travels Limited, an integrated maritime travel specialist providing end-to-end travel arrangements for the crew of commercial shipping companies, has announced the opening of its Initial Public Offering on Sept 01, 2026.

- Total Issue Size: Up to 51,60,000 Equity Shares of 5 each

- Fresh Issue: Up to 41,60,400 Equity Shares

- Offer for Sale: Up to 9,99,600 Equity Shares

- Issue Size: 52.63 Crore

- Price Band: 102 Per Equity Share

- Lot Size: 1,200 Equity Shares (Minimum bid of 2 lots i.e. 2,400 equity shares, and in multiples of 1,200 equity shares thereafter)

- Proposed to be listed on the SME Platform of BSE (BSE SME)

Share Allocation & Issue Details- Non-Institutional Investors: Up to 24,48,000 Equity shares

- Retail Individual Investors: At least 24,48,000 Equity shares

- Market Maker: 2,64,000 Equity Shares

The Company proposes to utilise the net proceeds of the Issue primarily towards funding working capital requirements, repayment/pre-payment of borrowings, business marketing and development activities and general corporate purposes.

Corporate Makers Capital Limited is the Lead Manager to the Issue and KFin Technologies Limited is the Registrar to the Issue.

Mr. Jitendra Kumar Negi, Managing Director & Chairman of Fly-Hi Maritime Travels Limited, said: ' The opening of our Initial Public Offering marks a significant milestone in Fly-Hi Maritime Travels' growth journey and reflects the strength of the business we have built over the years. We have established ourselves as a specialised maritime travel partner, providing end-to-end travel and logistics solutions that enable commercial shipping companies to manage crew movements efficiently across geographies.

Our business is built around reliability, responsiveness, and the ability to manage time-sensitive and complex travel requirements, from air ticketing and visa coordination to ground transfers, accommodation, boarding coordination, and 24/7 support. With more than 90% of our revenue coming from international clients, we have developed a strong global revenue base and a business model closely aligned with the evolving requirements of the maritime industry.

We are entering the next phase of our journey with a clear focus on expanding our international presence, strengthening our customer base, deploying technology to enhance operational efficiency and exploring new segments such as cruise-line crew travel. The IPO proceeds will provide us with the working capital and resources required to pursue these opportunities and support our ability to undertake larger mandates. We remain committed to building Fly-Hi Maritime Travels into a stronger, more scalable and globally connected maritime travel solutions company.'

Mr. Rohit Pareek, Director of Corporate Makers Capital Limited, said, 'Fly-Hi Maritime Travels has built a differentiated position by addressing a specialised and operationally critical requirement of the global maritime industry - the seamless movement of crew across international destinations. In an industry where timing, coordination and reliability are fundamental, the Company's integrated approach covering ticketing, accommodation, visa coordination, ground transportation and boarding support enables it to offer a comprehensive travel solution to its customers.

Looking ahead, the Company is focused on expanding its international distribution network, strengthening technology-led processes and entering adjacent segments such as cruise-line crew travel. With the global crew travel market expected to witness sustained growth, these initiatives provide the Company with opportunities to broaden its customer base and deepen its presence in the maritime travel ecosystem.

We are pleased to partner with Fly-Hi Maritime Travels as it enters the next phase of its growth journey. The IPO will provide the Company with additional resources to strengthen its working capital position, pursue business development initiatives and build the capabilities required to capture emerging opportunities in this specialised market.'

About The CompanyIncorporated in 2021, Fly-Hi Maritime Travels Limited is engaged in providing end-to-end travel arrangement services for crew of commercial shipping companies. The Company manages the movement of crew members from their home country to the port of boarding, covering airline tickets, ground transportation, hotel stays, visa applications, and other travel-related requirements.

The Company operates as an integrated maritime travel specialist, providing services including international and regional air ticketing, maritime crew travel, boarding and lodging, visa and immigration coordination, port agent coordination and 24/7 travel support. It is IATA-accredited (No. 14006425) and serves customers across India and international markets.

Its growth strategy includes appointing international distributors, developing digital tools to improve operational efficiency, expanding into cruise-line crew travel, strengthening its presence in international markets and deploying IPO proceeds towards working capital. The Company also plans to explore European Union markets, where several major commercial shipping companies are headquartered.

In FY26, the Company recorded Revenue from Operations of 6,203.63 Lakhs, EBITDA of 1,249.20 Lakhs, and PAT of 842.58 Lakhs.

Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances. Investors should read the Red Herring Prospectus / Prospectus, including the section titled 'Risk Factors', before making any investment decision. This announcement is not for release, publication or distribution, directly or indirectly, outside India.

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