Fly-Hi Maritime Travels IPO GMP, Date, Price Band & Review

Fly-Hi Maritime Travels IPO Details

Fly-Hi Maritime Travels IPO is a fixed-price issue of 51.60 lakh equity shares, worth up to ₹53 crore, comprising a fresh issue of ₹42.44 crore and an offer for sale of ₹10.20 crore, with a face value of ₹5 per share. The company filed its DRHP with SEBI on December 31, 2025.

The price band of the issue is set at ₹102 per share and the lot size for an application is 1,200 shares. The minimum amount of investment required by an individual investor is ₹2,44,800 (2,400 shares). The IPO will open for subscription from September 1 to 3, 2026, on the BSE SME platform, with a tentative listing date fixed as September 8, 2026.

Corporate Makers Capital Limited is acting as the sole Book Running Lead Manager, while KFin Technologies Limited has been appointed as the Registrar to the Issue.

Fly-Hi Maritime Travels IPO Date & Timeline

The Fly-Hi Maritime Travels IPO is officially set to open for subscription on [Opening Date] and will close on [Closing Date]. The company initially filed its Draft Red Herring Prospectus (DRHP) on [DRHP Date] and has now finalized its schedule following SEBI approval. Once the subscription window closes, allotment is expected on [Allotment Date]. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on [Refund & Demat Date]. Finally, shares of Fly-Hi Maritime Travels Ltd. are tentatively scheduled to list on the stock exchanges on [Listing Date].

Fly-Hi Maritime Travels IPO GMP (Grey Market Premium)

“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.

The Fly-Hi Maritime Travels IPO GMP is currently trading at ₹1, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹103, which is 0.98% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.

Company Background

Fly-Hi Maritime Travels Ltd. was originally incorporated as a private limited company, named Fly-Hi Maritime Travels Private Limited, on September 29, 2021. With a main focus on managing end-to-end travel arrangements for the crew of commercial shipping companies. Their main role is to absorb the complexity on behalf of shipping companies by planning and making end-to-end travel arrangements for the crew members and by offering them 24/7 support during their travel from their home country to the port of boarding.

The company has its registered office in Vasant Kunj, New Delhi, while its corporate office is located in Andheri West, Mumbai. Since its inception, it has focused on managing the administrative and logistical requirements of international maritime crew movements.

Then, on December 05, 2025, the company converted into a public limited company with the issuance of a fresh certificate of incorporation to proceed with its public listing procedure.

Operations & Product Range

Fly-Hi Maritime Travels Ltd. manages end-to-end travel arrangements for seafarers and crew of commercial shipping companies, ensuring smooth transit from home countries to boarding ports. Its services include flight bookings, visa and immigration support, hotel stays, ground transport and customized itineraries aligned with vessel schedules. The company also provides 24/7 emergency assistance for crew changes, medical cases and last-minute travel disruptions, with operations concluding once the seafarer is confirmed to have boarded the vessel.

Facilities & Capacity

Fly-Hi Maritime Travels Limited operates through its corporate headquarters located in New Delhi, India. Operating as an asset-light corporate travel service provider, its infrastructure centers on digital platforms, 24/7 global support desks and vendor networks across more than 8 countries. Its handling capacity is driven by broad global partnerships, enabling the firm to facilitate complex crew transfers, international air ticketing, ground transit and visa operations for maritime clients across multiple international jurisdictions seamlessly.

Brands & Market Presence

Fly-Hi Maritime Travels Ltd. offers specialized marine travel services under the "Fly Hi" brand, operating as a boutique partner in the business-to-business shipping sector. As a member of the International Air Transport Association, it has some kind of access to global airline inventories, enhancing credibility with vessel operators. The company focuses on crew mobility solutions in international markets and maintains strong relationships with major shipping companies.

Revenue Streams & Business Model

Fly-Hi Maritime Travels Ltd. generates revenue mainly from service-based income like fees and commissions in crew logistics. In FY26, the UAE accounted for ₹35.13 crore (56.64%) of revenue, while the UK contributed ₹2.02 crore (3.26%). The top two clients represented 62.14% of FY26 revenue, with the UAE distributor alone contributing ₹28.90 crore (46.59%).

The firm operates a B2B business model providing end-to-end maritime travel solutions. It manages air ticketing, ground transport, accommodation and visa clearance for commercial shipping crew members.

Financial Performance

Fly-Hi Maritime Travels Ltd. experienced significant top-line and bottom-line expansion in FY26. Total revenue from operations reached ₹62.21 crore, representing a year-on-year growth of 36% compared to ₹45.75 crore in FY25. Operating efficiency improved dramatically, driving EBITDA up to ₹12.49 crore, with the EBITDA margin expanding to 20.14%. Profit after tax (PAT) grew 145% year-on-year to ₹8.43 crore, compared to ₹3.44 crore in the previous financial year, leading to a PAT margin of 13.58%.

Management & Shareholding

The promoters of Fly-Hi Maritime Travels Ltd. are Mr. Jitendra Kumar Negi and Mr. Mridul Dilip Singhvi. Before the IPO, the promoters hold an 80% stake in the company, but after the IPO, the promoters' shareholding will be slightly diluted as the offering includes an offer for sale (OFS) of 10 lakh shares and a fresh issue of 41.60 lakh shares, which will dilute the stakeholding of the promoters to 49.48%.

Board & Key Management

The leadership of Fly-Hi Maritime Travels Ltd. is led by a team of experts with many years of experience. Jitendra Kumar Negi serves as the Chairman & Managing Director and gives strategic direction to the firm, as well as manages the daily operations, along with Whole-Time Director Mridul Dilip Singhvi. To ensure good governance, the board includes Independent Directors Arshita Singh, Vipin Kumar Chhawchhirya and Deepesh Mittal for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.