Fly-Hi Maritime Travels Limited is launching its SME issue on September 1, 2026, to raise ₹52.63 crore. The issue comprises both a fresh issue of shares and an Offer for Sale (OFS). The issue price has been fixed at ₹102 per share. The company provides specialized travel and mobility solutions for maritime crew, managing global travel arrangements for commercial shipping personnel. It operates via a centralized model from its Mumbai office. The net proceeds from the issue will be utilized for working capital requirements and debt repayment. The shares will be listed on the BSE SME platform.
Fly-Hi Maritime Travels Limited IPO is launching an issue worth ₹52.63 crore. Managing promoters Jitendra Kumar Negi and Mridul Dilip Singhvi oversee the company's operations. Kfin Technologies Ltd. is managing the registrar process, while Corporate Makers Capital Ltd. is acting as the lead manager. Bhaijee Broking & Investments Pvt. Ltd. is serving as the market maker.
Lot Size & Investment
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 2400 | 244800 | 1020 |
| HNI | 3 | 3600 | 367200 | 680 |
Share Reservation
| Category | Shares Offered | % |
|---|---|---|
| Total | 5160000 | 100% |
| HNI | 2448000 | 47.44% |
| INDIVIDUAL | 2448000 | 47.44% |
| Market Maker | 264000 | 5.12% |
About the Company
IPO Details
| Total Issue Size | 51,60,000 shares (aggregating up to ₹52.63 Cr) |
| Fresh Issue | 41,60,400 shares (aggregating up to ₹42.43 Cr) |
| Offer for Sale | 9,99,600 shares (aggregating up to ₹10.19 Cr) |
| Face Value | ₹10/- Per Share |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,00,20,000 shares |
| Share Holding Post Issue | 1,41,80,400 shares |
| Reserved for Market Maker | 2,64,000 shares (aggregating up to ₹2.69 Cr) |
| Market Maker | Bhai jee Broking & Investments Private Limited |
Key Performance Indicators (KPI)
| KPI | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| ROE | 61.29% | 44.08% | 34.39% |
| ROCE | 67.22% | 45.18% | 37.61% |
| EPS (BASIC) | 8.41 | 3.44 | 1.82 |
| P/E Pre IPO | 12.13 | ||
| P/E Post IPO |
Company Financial (In ₹Crore)
| Period Ended | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| Assets | 37.94 | 23 | 16.47 |
| Total Income | 62.21 | 45.75 | 45.41 |
| Profit After Tax | 8.42 | 3.44 | 1.82 |
| EBITDA | 12.49 | 5.27 | 2.68 |
| NET Worth | 17.95 | 9.53 | 6.09 |
| Reserves and Surplus | 12.94 | 9.52 | 6.08 |
| Total Borrowing | 12.96 | 10.03 | 4.84 |
COMPARISON WITH INDUSTRY PEERS
*Company does not have any peer group company for comparison with Industry Peer.
About Company
Fly-Hi Maritime Travels Limited was incorporated as Fly-Hi Maritime Travels Private Limited on September 29, 2021, under the Companies Act, 2013. Subsequently, the Company was converted into a Public Limited Company pursuant to a shareholders’ resolution dated December 05, 2025, and renamed Fly-Hi Maritime Travels Limited. A fresh Certificate of Incorporation was issued on December 08, 2025.
Business Overview
The Company provides end-to-end travel arrangements for crew of commercial shipping companies, ensuring seamless movement from their home country to the port of boarding.
Its services include managing:
- Airline tickets
- Ground transportation
- Hotel accommodation
- Visa applications
- Other travel arrangements until the crew reaches the designated port.
24/7 Crew Travel Support
Since crew movements directly affect vessel schedules, compliance and operations, the Company manages the complexity of crew travel on behalf of shipping companies. It provides 24/7 travel support throughout the journey.
Tailor-Made Travel Solutions
Commercial shipping fleets have crew members from different nationalities, requiring customized travel itineraries to ensure that each crew member reaches the port of boarding according to the required time and schedule.
Strengths
Experienced Management: Promoter & Managing Director Mr. Jitendra Kumar Negi has 14+ years of experience in the commercial shipping industry. His expertise and guidance helped build the initial customer base and continue to support the Company’s growth.
Marquee Customers: The Company serves well-established, multi-billion-dollar companies in the commercial shipping industry with decades of industry presence.
Diversified Geographical Customer Base: Customers are spread across 6+ countries, including Cyprus, Greece, USA, UK, Singapore, UAE and India, helping mitigate risks arising from political unrest, natural disasters or other country-specific issues.
Risk Factors
Industry Concentration: The Company mainly provides travel solutions to crew of commercial shipping companies, limiting its revenue exposure largely to one industry.
Reliance on Third-Party Aggregators: Heavy dependence on third-party aggregators for airlines, hotels and other travel requirements may limit the Company’s margins and market reach.
Price Volatility: Frequent fluctuations in airfares, hotel rates and other travel costs may lead to volatility in the Company’s margins.
Lead Managers
Registered Address
Fly-Hi Maritime Travels Ltd. Address
SF-04,
2nd Floor,
Vasant Square Mall, Vasant Kunj=?
New Delhi, New Delhi, 110070
Phone: +91-9152110080
E-Mail: cs@fhmtravels.in
Website:https://fhmtravels.in/
Registrar
https://ipostatus.kfintech.com/
Kfin Technologies Limited KFintech, Tower-B, Plot No 31 & 32, Financial District, Nanakramguda, Gachibowli, Hyderabad, Telangana India - 500 032.