FLY HI Maritime Travels IPO
Listed -20.0%1–3 Sep 2026
Our IPO analysis
What stands out in the offer document
The five questions
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1How it makes money₹98 of every ₹100 of sales comes from its "Tickets and allied Services" segment. ₹86 of every ₹100 comes from UAE and Cyprus.
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2Is it growing, and is profit turning into cash?Sales rose 38% from 2024 to 2026 (₹45.1 cr → ₹62 cr). Over 3 years it made ₹13.7 cr of profit and brought in −₹1 cr of cash from operations.
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3How much cushion does it have?It owes ₹0.72 for every ₹1 of its own money. The line for logistics is ₹2.
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4What you pay, and who gets the moneyOf every ₹100 raised, ₹19 goes to existing shareholders selling. At ₹102 you pay about ₹12 for every ₹1 of last year's profit.
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5Who controls it, and what is on record?Promoters own 80% now and 49% after the IPO. The document discloses 3 legal matters.
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Latest update:
Listed at ₹82 vs ₹102 issue price (-20.0%) · Day-one close ₹78 · Subscribed 2.17× (NII 0.7× · Retail 3.7×) · Price band ₹102 · Closed 3 Sep 2026 · Listed 8 Sep 2026 (Confirmed)
How it actually listed
₹82 on open, against a ₹102 issue price -20.0%
It ended its first day at ₹78 (-24.0% against the issue price), per the BSE's price archive.
We were not recording a grey-market premium before it listed.
What FLY HI Maritime Travels does
The company manages end-to-end travel arrangements for the crew of commercial shipping companies, ensuring seamless movement from their home country to the port of boarding, including airline tickets, ground travel, hotel stays, and visa applications.
FLY HI Maritime Travels financials
Rs crore · Annual| 2024 | 2025 | 2026 | ||
|---|---|---|---|---|
| Sales | 45 | 45 | 62 | |
| Operating Profit | 3 | 5 | 12 | |
| OPM % | 5.9% | 11.6% | 20.1% | |
| Net Profit | 2 | 3 | 8 | |
| Total Debt | 5 | 10 | 13 |
FLY HI Maritime Travels IPO offer structure
Total: ₹53 cr. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Size and split come from a public aggregator rather than the exchange, cross-checked against a second.
Use of proceeds- Funding Working Capital Requirements of our Company: ₹24 cr
- Repayment and/or pre-payment, in part, of borrowing availed by our Company: ₹4 cr
- Towards Talent Acquisition for Business Marketing and Development activities: ₹2 cr
- General Corporate Purposes: ₹6 cr
FLY HI Maritime Travels promoters and holding
- Mr. Jitendra Kumar Negi: Promoter and Managing Director & Chairman
- Mr. Mridul Dilip Singhvi: Promoter & Whole Time Director
FLY HI Maritime Travels risks and strengths
- We derive a significant portion of revenue from markets outside India and any adverse developments in such markets or policies could adversely affect our business. (p.25)
- We depend on a limited number of customers; if they choose not to source from us, it may adversely affect our business. (p.25)
- Our Company operations require a significant amount of working capital for continuing growth. (p.26)
FLY HI Maritime Travels market and competition
The company operates in a niche travel management sector, differentiating itself by offering services exclusively to commercial shipping companies for crew travel in a highly competitive and unorganised market.
FLY HI Maritime Travels outlook, as the document states it
The company plans to expand internationally by appointing distributors in Europe, US, and UK, approach cruise lines to diversify its customer portfolio, and invest in digital tools to enhance operational efficiency.
FLY HI Maritime Travels IPO: common questions
What was the FLY HI Maritime Travels IPO listing price?
The FLY HI Maritime Travels IPO listed at ₹82, 20% below its issue price of ₹102. The listing price is the opening price set by the pre-open call auction on listing day, as reported by the exchange. Listing price vs GMP for every recent IPO →
When does the FLY HI Maritime Travels IPO open and close?
The FLY HI Maritime Travels IPO opened for bidding on 1 Sep 2026 and closed on 3 Sep 2026. Under the T+3 timetable the basis of allotment is fixed on the working day after the close, refunds and demat credits follow a day later, and the shares list on the third working day after the close. Open, allotment and listing dates for every IPO →
What is the FLY HI Maritime Travels IPO price band?
The FLY HI Maritime Travels IPO is a fixed-price issue at ₹102 per share, so there is no band to bid within: every applicant pays the same price. The minimum investment is one lot at that price, and the shares on offer are allotted at it whatever the demand. What a fixed-price issue is →
What is the lot size and minimum investment for the FLY HI Maritime Travels IPO?
One lot is 1200 shares, and a retail application must be at least one lot. That is about ₹2,44,800 at the issue price. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category. Lot size and minimum investment, explained →
How much is the FLY HI Maritime Travels IPO subscribed?
The FLY HI Maritime Travels IPO closed on 3 Sep 2026 subscribed 2.17× in total, the final figure: investors bid for that many times the shares on offer. Each category (QIB, NII and retail) is counted separately, and when retail is oversubscribed its allotment is decided by a lottery for one lot each. What "subscribed 3x" means →
When does the FLY HI Maritime Travels IPO list?
The FLY HI Maritime Travels IPO listed on 8 Sep 2026 on BSE SME. On listing day the shares go through a pre-open call auction from 9 to 10 am that sets the opening price, and normal trading starts at 10 am. Allotted shares reach demat accounts the working day before. Every SME IPO in one place →
How do I check the FLY HI Maritime Travels IPO allotment status?
On the allotment status page published by KFin Technologies, this issue's registrar, and on the exchange's basis of allotment. Those are the primary sources. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. We do not hold allotment data and cannot look yours up. Allotment status links for every recent IPO →
FLY HI Maritime Travels IPO allotment status
Listed 8 Sep 2026. Allotment is decided and published by the registrar, not by us. This issue's registrar is KFin Technologies.
Check your allotment on the registrar's own page ↗
We do not hold allotment data and cannot look yours up. If the issue was oversubscribed, retail allotment was decided by lottery, so a valid application does not mean shares. How allotment is actually decided →
Check it at the source: The offer document · KFin Technologies (registrar) · BSE public issues · SEBI offer documents
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Source: FLY HI Maritime Travels IPO data, IPO agent by Kredfit, updated 19 Oct 2026. https://ipoagent.kredfit.com/ipo/fly-hi-maritime-travels-limited-58479.htmlSource: <a href="https://ipoagent.kredfit.com/ipo/fly-hi-maritime-travels-limited-58479.html">FLY HI Maritime Travels IPO data – IPO agent by Kredfit</a> (updated 19 Oct 2026)