Fly-Hi Maritime Travels IPO
Fly-Hi Maritime Travels LtdSME
This IPO is now Live.
- Open date
- 1 Sep 2026
- Close date
- 3 Sep 2026
- Min. Investment
- ₹2,44,800
- Lot Size
- -
- Fresh Issue
- ₹42.44 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers0.00x
- Non-Institutional Investors0.00x
- Retail-Individual Investors0.00x
- Total0.00x
Schedule
- Completed: IPO open date1 Sep 2026
- Current step: IPO close date3 Sep 2026
- Upcoming: Allotment date4 Sep 2026
- Upcoming: Funds unblock or debit7 Sep 2026
- Upcoming: Tentative listing date8 Sep 2026
About
Promoter shareholding in Fly-Hi Maritime Travels Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Jitendra Kumar Negi | 49,14,770 | 49.05% | 39,15,170 | 27.61% |
| Mridul Dilip Singhvi | 31,01,190 | 30.95% | 31,01,190 | 21.87% |
Fly-Hi Maritime Travels IPO Strengths & Risks
- Proven Track Record.
- Experienced Management.
- Establish Relationship with Customers.
- Skilled and hardworking force.
- Distributor for better customer servicing.
- Business operations in outside India.
- Risks Relating to the Business: The company derives a significant portion of revenue from markets outside India and any adverse developments in such markets or policies could adversely affect its business and results of operations.
- Risks Relating to the Business: The company has executed agreements with its large clients. If the company's customers choose not to source their requirements from it, or the company is unable to procure new orders on a regular basis or at all, this may adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The Company's operations requires significant amount of working capital for a continuing growth. Its inability to meet the company's working capital requirements may adversely affect its results of operations.
- Risks Relating to the Business: The Company has delayed in complying with certain statutory provisions under various laws. Such delayed compliance/lapses may attract certain penalties.
- Risks Relating to the Business: There are certain discrepancies and non-compliances pertaining to GST, TDS, TCS, EPF and ESI noticed in some of the company's financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities.
- Risks Relating to the Business: The company requires working capital for its smooth day-to-day operations of business and any discontinuance or its inability to acquire adequate working capital timely and on favourable terms may have an adverse effect on the company's operations, profitability and growth prospects.
- Risks Relating to the Business: The company's majority of the business is dependent on an exclusive distributor appointed by it to work exclusively for the company and who contributes to majority of its revenues from operations. Any dispute or due to inferior service provided by them to the company's customers or any other sort of disruption may result in loss of business for the company and may adversely affect its revenues and profitability.
- Risks Relating to the Business: The company's business depends on its relationships with a limited range of suppliers i.e. third party vendors, and any adverse changes in such relationships, or the company's inability to enter into new relationships, could adversely affect its business and results of operations.
- Risks Relating to the Business: Few of the company's License and registration is registered in the name of erstwhile Fly-Hi Maritime Travels Private Limited and certain certificates or registration is yet to be applied with concerned authorities for amendment or new certificates or renewal.
- Risks Relating to the Business: The company depends on its third-party service providers and vendors/suppliers in certain aspects of the company's operations and unsatisfactory services provided by them or failures to maintain relationships with them could disrupt its operations.
- Risks Relating to the Business: The company operates in a highly competitive and fragmented industry and may be unable to compete successfully against existing or new competitors, particularly in the unorganized segment.
- Risks Relating to the Business: The Company has negative cash flows in the past years from investing activities, details of which are given below. Sustained negative cash flow could impact its growth and business.
- Risks Relating to the Business: Failures to protect the company's intellectual property rights could adversely affect its business and the company's brand.
- Risks Relating to the Business: The company's insurance coverage may not be adequate to protect it against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
- Risks Relating to the Business: Changing laws, rules and regulations and legal uncertainties, including adverse application of corporate and tax laws, may adversely affect the company's business, results of operations, financial condition, and prospectus.
- Risks Relating to the Business: There are certain outstanding legal proceeding involving Company and its Promoter which may adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The company's Registered Office and corporate offices are located on rental premises. If the company is unable to renew such agreements or relocate on commercially suitable terms, it may have a material adverse effect on its business, results of operation and financial condition.
- Risks Relating to the Business: Significant security breaches in the company's computer systems and network infrastructure, fraud, systems failures and calamities would adversely impact its business.
- Risks Relating to the Business: The company has taken personal guarantees from Promoters in relation to debt facilities availed by the Company.
- Risks Relating to the Business: Trade receivables form a major part of the company's current assets. Failures to manage its trade receivables could have an adverse effect on the company's sales, profitability, cash flow and liquidity.
- Risks Relating to the Business: The Company's Applications for Registration of its trademarks have been opposed; In case of any adverse directions are issued in the matter, and its failures to get it registered may adversely affect the company's business.
- Risks Relating to the Business: The company's success largely depends upon the knowledge and experience of its Promoters, Directors, the company's Key Managerial Personnel and Senior Management as well as its ability to attract and retain them. Any loss of the company's Promoters, Directors, Key Managerial Personnel, Senior Management or its ability to attract and retain them could adversely affect the company's business, financial condition and results of operations.
- Risks Relating to the Business: The Company is not having any exact comparable Indian peer which have similar business to the Company.
- Risks Relating to the Business: Exchange rate fluctuations may adversely affect the company's results of operations as majority portion of its revenues and are denominated in foreign currencies.
- Risks Relating to the Business: Any deterioration in the quality of the company's customer experience may adversely affect its business and reputation.
- Risks Relating to the Business: If the company is unable to source business opportunities effectively, the company may not achieve its financial objectives.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company's Promoters could be lower than the Offer price.
- Risks Relating to the Business: The company's financing agreements contain covenants that limit its flexibility in operating the company's business. Its inability to meet the company's obligations, including financial and other covenants under its debt financing arrangements could adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company has taken unsecured loans from its Promoters, Directors, relative of Directors, Banks, NBFCs or other Financial Institutions which are repayable on demand.
- Risks Relating to the Business: Any IT system failures or lapses on part of any of the company's employees may lead to operational interruption, liabilities or reputational harm.
- Risks Relating to the Business: The company's inability to effectively manage its growth or to successfully implement the company's business plan and growth strategies could have an adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: If the company is subject to any fraud, theft, or embezzlement by its employees or job workers, it could adversely affect the company's reputation, results of operations and financial condition. Its could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect the company's financial condition, results of operations and reputation.
- Risks Relating to the Business: Any failures or significant weakness of the company's internal controls system could cause operational errors or incidents of fraud, which would adversely affect its profitability and reputation.
- Risks Relating to the Business: The determination of the Issue Price is based on various factors and assumptions and the Issue Price of the Equity Shares may not be indicative of the market price of the Equity Shares after the Issue.
- Risks Relating to the Business: Any inability to address changing industry standards and consumer trends may adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company's funding requirements and the proposed deployment of Net Proceeds are not appraised by any independent agency, which may affect its business and results of operations.
- Risks Relating to the Business: The company's Business is highly dependent on the skills, experience, and relationships developed over the period by its Promoter and Directors.
- Risks Relating to the Business: In addition to normal remuneration or benefits and reimbursement of expenses, some of the company's directors and key managerial personnel are interested to the extent of their shareholding and dividend entitlement, if any in the Company.
- Risks Relating to the Business: The company may not be successful in implementing its business strategies.
- Risks Relating to the Business: None of the company's Directors and KMPs possess experience of being on the board of any listed company.
- Risks Relating to the Business: The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further the company has not identified any alternate source of financing the `Objects of the Issue'.
- Risks Relating to the Business: Any variation in the utilization of the Net Proceeds as disclosed in this Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
- Risks Relating to the Business: The requirements of being a public listed company may strain its resources and impose additional requirements.
- Risks Relating to the Business: The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- Risks Relating to the Business: The Company may be subject to surveillance measures, such as the Additional Surveillance Measures (ASM) and the Graded Surveillance Measures (GSM) by the Stock Exchanges which may adversely affect the trading price of the Equity Shares.
