PNN

New Delhi [India], August 31: Fly-Hi Maritime Travels Limited, a travel and logistics company engaged in managing end-to-end travel arrangements for crew members of commercial shipping companies, will open its Initial Public Offering (IPO) for subscription on September 1, 2026, with the issue closing on September 3, 2026. The Company is proposed to be listed on the BSE SME platform, with the tentative listing date scheduled for September 8, 2026. The IPO is a Fixed Price Issue of 51,60,000 Equity Shares of face value Rs. 5 each at Rs. 102 per share, aggregating to approximately Rs. 52.63 crore.;pt

Highlights:

* IPO opens Sep 1, closes Sept. 3, raising up to Rs. 52.63 crore via BSE SME listing

* Issue split: Rs. 42.43 Cr Fresh Issue + Rs. 10.19 Cr Offer for Sale

* Fly-Hi Maritime Travels posted FY25 PAT of Rs. 3.44 Cr with strong ROE of 44.08% and ROCE of 45.18%

* Fly-Hi Maritime Travels' Net Worth grew from Rs. 4.50 Cr (FY23) to Rs. 10.97 Cr (Q1 FY26)

The Issue comprises a fresh issue of 41,60,400 Equity Shares aggregating to approximately Rs. 42.44 crore and an Offer for Sale of 9,99,600 Equity Shares aggregating to approximately Rs. 10.19 crore by promoter selling shareholder Mr. Jitendra Kumar Negi.

The Equity Shares are proposed to be listed on the BSE SME platform. Corporate Makers Capital Limited is the Book Running Lead Manager to the Issue, while KFin Technologies Limited is the Registrar to the Issue.

Fly-Hi Maritime Travels has established a strong financial base with consistent profitability and improving net worth over the reported periods. For Financial Year 2024, the company recorded total revenue of Rs.4540.71 lakh and profit after tax of Rs.182.13 lakh. In Financial Year 2025, the company recorded total revenue of Rs.4574.56 lakh and profit after tax of Rs.344.34 lakh. In Financial Year 2026, the company recorded total revenue of Rs.6221.34 lakh and profit after tax of Rs.842.58 lakh.In Financial Year 2026, the company achieved a profit after tax margin of 13.58%.

Fly-Hi Maritime Travels is engaged in providing comprehensive travel management solutions for crew members of commercial shipping companies. The Company's services facilitate the movement of maritime crew from their home countries to ports of boarding, with a focus on timely and efficient crew transfers. Its service portfolio includes travel arrangements and related support services for commercial shipping companies, helping customers manage crew movement in line with vessel schedules and operational requirements.

The Net Proceeds from the Issue are proposed to be utilised towards funding working capital requirements of the Company, repayment and/or pre-payment, in part, of borrowings availed by the Company, business marketing and development activities, and general corporate purposes.

Commenting on the development, Mr. Jitendra Kumar Negi and Mr. Mridul Dilip Singhvi, Promoters of Fly-Hi Maritime Travels Limited, said, 'This IPO is an important milestone for us. It will strengthen our operations and financial capabilities as we grow in the specialised marine travel segment.' With its focus on specialised marine travel and logistics services, Fly-Hi Maritime Travels aims to further strengthen its presence in the segment and leverage opportunities arising from the evolving requirements of commercial shipping companies. The proposed listing on the BSE SME platform is expected to enhance the Company's visibility and provide a stronger platform for its next phase of business development.

IPO Details - Fly-Hi Maritime Travels Ltd

* IPO Open: Tuesday, September 1, 2026

* IPO Close: Thursday, September 3, 2026

* Issue Price: Rs. 102 per Equity Share

* Issue Size: Up to Rs. 52.63 crore

* Fresh Issue: Rs. 42.43 crore - 41,60,400 Equity Shares

* Offer For Sale: Rs. 10.19 crore - 9,99,600 Equity Shares

* Lot Size: 1,200 Equity Shares

About Fly-Hi Maritime Travels Limited

Fly-Hi Maritime Travels Limited is a specialised marine travel management company that manages end-to-end travel arrangements for crew of commercial shipping companies. The Company provides airline ticketing, ground transportation, hotel accommodation, visa assistance, immigration support, travel monitoring, emergency assistance, and boarding confirmation services. Its centralised operations are managed from Mumbai, supported by a network of travel service providers and a distributor in Dubai for certain international customer requirements. The Company is an IATA-accredited entity and focuses on supporting seamless crew movement in line with vessel schedules and operational requirements.

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