What is the core business of Fly-Hi Maritime Travels Ltd?

Fly-Hi Maritime Travels Ltd manages end-to-end travel logistics for commercial shipping crew members, including airline ticketing, ground transport, hotel arrangements, and visa applications.

What are the opening and closing dates for the Fly-Hi Maritime IPO?

The IPO opens on 1 September 2026 and closes on 3 September 2026.

What is the total issue size and price band of the IPO?

The total issue size is ₹52.63 crore, with a fixed price band of ₹102 per share.

How does Fly-Hi Maritime Travels plan to use the net fresh issue proceeds?

The company intends to use the proceeds to fund working capital requirements (₹24.24 crore), repay/prepay borrowings (₹4.00 crore), acquire talent for marketing and business development (₹1.80 crore), and for general corporate purposes (₹6.36 crore).

What is the financial performance trajectory of Fly-Hi Maritime Travels Ltd?

Revenue increased from ₹45.08 crore in FY24 to ₹62.04 crore in FY26, while Profit After Tax (PAT) grew from ₹1.82 crore in FY24 to ₹8.42 crore in FY26.

What key risks are disclosed regarding Fly-Hi Maritime Travels Ltd?

Key risks include extreme customer concentration (top 10 clients account for 91.39% of FY26 revenue), high supplier reliance (94.12% of purchases from top 10 suppliers), negative cash flow from operations in FY26 (-₹0.98 crore), and ongoing legal/tax proceedings.

Is Fly-Hi Maritime IPO good for long term?

Based on our AI analysis, Fly-Hi Maritime has a financial score of N/A/100 and a market potential score of N/A/100.

What is the lot size of Fly-Hi Maritime IPO?

Use the ViewIPO Lot Size Calculator to instantly find the exact lot size and maximum investment limits for Retail, sHNI, and bHNI categories for Fly-Hi Maritime.

Fly-Hi Maritime IPO: GMP, Price & Review

Name: Fly-Hi Maritime IPO
Brand: Fly-Hi Maritime
Rating: 3.8 (1 reviews)

Home›India›Fly-Hi Maritime ()

Fly-Hi MaritimeNSE SME / BSE SME:

Analyzed by ViewIPO Financial Research Team

Marine Travel ServicesIndia•Filed 2026-09-01•Listing 2026-09-08•Size ₹52.29Cr

The total amount of money the company is trying to raise from the public through this IPO.

•Lot Size 1200

The minimum number of shares an investor must bid for in an IPO.

Live GMP

Grey Market Premium. The extra amount buyers are willing to pay for the IPO shares in the unofficial market before listing.

₹5 (+4.9%)

Check Allotment

Status Link

Is Fly-Hi Maritime IPO Good? Quick Verdict

Fly-Hi Maritime IPO scored 59/100 (High Risk) in our deep analysis. The strongest pillar is Financial at 70/100, while Competition is the primary concern at 35/100. Fly-Hi Maritime Travels Limited demonstrates strong net profit expansion in crew logistics, but faces severe customer and supplier concentration risks alongside negative operating cash flows and expanding working capital cycles.

IPO Score

59/100

High Risk

Quick Verdict

PAT increased significantly from ₹1.82 crore in FY24 to ₹8.42 crore in FY26.

Cost-competitive Indian operations provide margin support for global maritime travel services.

Top 10 customers accounted for 91.39% of total revenue in FY26.

Top 10 suppliers represented 94.12% of total purchases in FY26.

Negative operating cash flows of ₹0.98 crore in FY26 and ₹0.92 crore in FY24.

Operating cycle lengthened significantly from 51 days in FY24 to 120 days in FY26.

Company Snapshot

Revenue (TTM)

Total money brought in by the company's operations before deducting any expenses.

₹62.04Cr↑ 36.68% YoY

Profitability

The company's total profit after all expenses, taxes, and costs have been deducted.

PositiveNet Income ₹8.42Cr

Gross Margin

—

Market Cap

—Pending Data

IPO Size

The total amount of money the company is trying to raise from the public through this IPO.

₹52.29Cr

Industry

Marine Travel Services

P/E Ratio

—Pending Data

Risk Breakdown

Governance

Moderate

Financial

Moderate

Valuation

Expensive

Competition

High Risk

Dilution

Moderate

Promoter / Mgmt

Moderate

AI Summary

Fly-Hi Maritime Travels Ltd is an Indian marine travel management company incorporated in 2021 that coordinates end-to-end travel logistics for commercial shipping crew members across international ports. The company achieved substantial growth, with annual revenue rising to ₹62.04 crore and PAT reaching ₹8.42 crore in FY26. However, Fly-Hi Maritime Travels Ltd exhibits high concentration risks, relying on its top 10 customers for 91.39% of FY26 revenue and top 10 suppliers for 94.12% of purchases, while reporting negative operating cash flows of ₹0.98 crore in FY26 due to stretched working capital.

Overall Verdict: Fly-Hi Maritime Travels Limited demonstrates strong net profit expansion in crew logistics, but faces severe customer and supplier concentration risks alongside negative operating cash flows and expanding working capital cycles.

Key Highlights

•Manages complete crew travel arrangements including airline ticketing, ground transport, hotel stays, and visa processing for shipping companies across 6+ countries.
•Total issue size of ₹52.63 crore with ₹36.40 crore fresh issue and ₹16.23 crore offer for sale (OFS).
•Revenue increased from ₹45.08 crore in FY24 to ₹45.39 crore in FY25 and ₹62.04 crore in FY26.
•Profit After Tax (PAT) grew sharply from ₹1.82 crore in FY24 to ₹3.44 crore in FY25 and ₹8.42 crore in FY26.
•Derives over 90% of revenue from international clients (90.31% in FY26).
•Net working capital requirement expanded from ₹6.52 crore in FY24 to ₹20.26 crore in FY26.
•Net proceeds from fresh issue will primarily fund working capital (₹24.24 crore) and debt repayment (₹4.00 crore).

Financial Performance

Revenue (Annual)
Total money brought in by the company's operations before deducting any expenses.

↑ +36.7% YoY

INR in Crores

Net Income (Annual)
The company's total profit after all expenses, taxes, and costs have been deducted.

↑ +144.8% YoY

INR in Crores

Cash Flow vs Profit
Compares actual cash entering the business versus accounting profit. Strong cash flow indicates high earnings quality.

Cash Flow YoY

INR in Crores

EBITDA vs PAT
Earnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.

EBITDA YoY

INR in Crores

EBITDA

PAT

IPO Timeline

IPO Opens2026-09-01

IPO Closes2026-09-03

Basis of Allotment2026-09-04

Refunds & Demat2026-09-05

Listing Date2026-09-08

Valuation Analysis

IPO Price₹102

Estimated Fair Value

The theoretical true worth of the company based on its financial performance and peers.

Pending Data

Valuation Premium

How much more expensive this IPO is compared to its estimated fair value or its industry peers.

Pending

vs Fair Value

IPO DNA

Growth

Evaluates the company's historical and projected revenue and profit expansion.

Governance

Assesses the quality, transparency, and track record of the company's management team.

Profitability

Measures how effectively the company turns its sales into actual profit.

Valuation

Analyzes whether the IPO price is cheap, fair, or expensive compared to peers.

Competition

Evaluates the company's market share, moats, and competitive threats in its industry.

Execution

Assesses the company's ability to successfully utilize IPO proceeds and deliver on its promises.

Pros vs Cons

Pros

Consistent top-line growth, reaching ₹62.04 crore in FY26.
Accelerated net profit expansion from ₹1.82 crore in FY24 to ₹8.42 crore in FY26.
Low Indian manpower cost structure provides competitive pricing advantage for global operations.
Established strategic distribution presence in the UAE to tap international shipping clients.

Cons

High customer concentration, with top 10 customers bringing in 91.39% of FY26 revenue.
Heavy supplier dependency, with top 10 suppliers contributing 94.12% of total purchases in FY26.
Negative operating cash flows of ₹0.98 crore in FY26 and ₹0.92 crore in FY24.
Expansion of operating cycle from 51 days in FY24 to 120 days in FY26, straining liquidity.
Significant outstanding indebtedness of ₹12.97 crore and trade receivables of ₹24.79 crore in FY26.

Financial Health

Revenue Growth

The year-over-year percentage increase in the company's total sales.

37.6% overall growth from FY24 to FY26 (Good)

Debt Level

An assessment of whether the company's borrowing is manageable or risky.

₹12.97 Cr total indebtedness in FY26 (Moderate)

Cash & Equivalents

How much liquid cash the company has on hand to fund daily operations.

Negative operating cash flow of ₹0.98 Cr in FY26 (Weak)

Institutional Signals

Anchor Investors

Large institutional investors who buy shares before the IPO opens to the public, signaling confidence.

Undisclosed

VC Backing Tier

Whether renowned Venture Capital or Private Equity firms have invested in the company.

None Disclosed

Strategic Partners

Key business alliances that give the company a competitive edge.

UAE Exclusive Distributor Arrangement

Fly-Hi Maritime IPO Reddit Pulse & Sentiment

Real-time Reddit discussions & retail sentiment

No Public Data Available

We couldn't find any significant public discussions or retail sentiment threads for this IPO at the moment.

Disclaimer: These are raw community discussions aggregated from public forums. The AI summary and Reddit comments do not constitute financial advice. Always conduct your own independent research.

Fly-Hi Maritime IPO — Frequently Asked Questions

Related IPO Reports

Farm Peace

FARMPEACE

66/100

View Report

Deepa Jewellers

DEEPA

63/100

View Report

Rays of Belief

MOMSBELIEF

60/100

View Report

Shanti Inorganics

SHANTIINOR

58/100

View Report

Purple Style Labs

PERNIASPOP

51/100

View Report

View All Active & Upcoming IPOs View IPO Calendar

IPO Terminology Explained

Confused by terms like GMP, Kostak, or Subject to Sauda? Read our detailed guides in the IPO Glossary to understand the terminology before you invest.

Grey Market Premium (GMP)Subject to Sauda ASBA Offer for Sale (OFS)

View Full Glossary

Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.

Want to analyze another IPO?

Search any stock, IPO, company, ticker or filing and get instant AI-powered analysis.

Frequently Asked Questions about Fly-Hi Maritime

What is the expected listing price of Fly-Hi Maritime?

The expected listing price depends on the live Grey Market Premium. Check the live GMP and expected listing price for Fly-Hi Maritime on our Live GMP Tracker.

Fly-Hi Maritime IPO Analysis & Review

Quick Answers

Key IPO Information

ViewIPO AI Analysis Score

Frequently Asked Questions

What is the core business of Fly-Hi Maritime Travels Ltd?

What are the opening and closing dates for the Fly-Hi Maritime IPO?

What is the total issue size and price band of the IPO?

How does Fly-Hi Maritime Travels plan to use the net fresh issue proceeds?

What is the financial performance trajectory of Fly-Hi Maritime Travels Ltd?

What key risks are disclosed regarding Fly-Hi Maritime Travels Ltd?

Fly-Hi MaritimeNSE SME / BSE SME:

Is Fly-Hi Maritime IPO Good? Quick Verdict

Quick Verdict

Company Snapshot

Risk Breakdown

AI Summary

Key Highlights

Financial Performance

Revenue (Annual) Total money brought in by the company's operations before deducting any expenses.

Net Income (Annual) The company's total profit after all expenses, taxes, and costs have been deducted.

Cash Flow vs Profit Compares actual cash entering the business versus accounting profit. Strong cash flow indicates high earnings quality.

EBITDA vs PAT Earnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.

IPO Timeline

Valuation Analysis

IPO DNA

Pros vs Cons

Pros

Cons

Financial Health

Institutional Signals

Fly-Hi Maritime IPO Reddit Pulse & Sentiment

No Public Data Available

Fly-Hi Maritime IPO — Frequently Asked Questions

Related IPO Reports

Farm Peace

Deepa Jewellers

Rays of Belief

Shanti Inorganics

Purple Style Labs

IPO Terminology Explained

Want to analyze another IPO?

Frequently Asked Questions about Fly-Hi Maritime

Is Fly-Hi Maritime IPO good for long term?

What is the lot size of Fly-Hi Maritime IPO?

What is the expected listing price of Fly-Hi Maritime?

Revenue (Annual)
Total money brought in by the company's operations before deducting any expenses.

Net Income (Annual)
The company's total profit after all expenses, taxes, and costs have been deducted.

Cash Flow vs Profit
Compares actual cash entering the business versus accounting profit. Strong cash flow indicates high earnings quality.

EBITDA vs PAT
Earnings Before Interest, Taxes, Depreciation, and Amortization. Shows pure operating performance.