Flysbs Aviation IPO: Price, GMP, Analysis, And Details

Flysbs Aviation IPO- Company Analysis

Flysbs Aviation IPO under the SME IPO category is a bookbuilding of Rs. 102.53 Cr by Flysbs Aviation Ltd, which was established in 2020 and is an aviation company that specializes in private jet services. The company is governed by Indian law and has its headquarters in Chennai, Tamil Nadu.

Among the private jet services offered by FlySBS Aviation are:

• Extra-Luxurious Jets

• Big, Exotic Jets

• Ultra-Luxury Jets

• Fast-moving Jets

The business effectively transports customers to locations on 6 continents by offering air chartering services on both domestic and international routes.

Long-term chartering, subscription alternatives like the "Je'time" Program, membership for regular fliers, and the Flexjet Program for those with moderate flying hours are just a few of the programs the company offers to meet the needs of its diverse clientele.

Flysbs Aviation IPO Details

The Flysbs Aviation IPO date is on 01 August 2025, and its initial public offering will end on 05 Aug with IPO allotment on Aug 06, and refund initiation on Aug 07, 2025.

The Rs. 102.53 Crore new SME IPO comprises a wholly fresh issue of 45.57 lac shares.

The Flysbs Aviation IPO listing date (expected) might be on Friday, Aug 08, 2025, and listing at the NSE and SME. 

The Flysbs Aviation IPO price band is Rs. 210 to Rs. 225.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Aug 01, 2025
IPO Closing Date	Aug 05, 2025
IPO Allotment Date	Aug 06, 2025
Refund Initiation	Aug 07, 2025
IPO Listing Date	Aug 08, 2025

 

Click to open demat account and apply for the IPO.

Company Financials

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	191.84	77.15	20.12
Total Revenue	195.38	106.72	34.68
PAT	28.41	11.25	3.44
EBITDA	41.41	14.99	5.23
Net Worth	128.85	47.32	11.33
Reserves & Surplus	137.63	63.23	9.57
Borrowings	17.93	2.56	3.36

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	1.14	122.50	350.19
Net Cash Flow Investing Activities	(2,760.19)	(3,728.66)	(247.50)
Net Cash Flow Financing Activities	6,908.12	4,186.10	147.17

 

Revenue Bifurcation

Flying hours Breakdown- Domestic and International

Travel-wise Revenue Bifurcation

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Financing capital expenditures for the long-term dry lease purchase of six new aircraft.

• Full or partial repayment of some outstanding loans that the business has taken out.

• General corporate purposes.
  
  

Listed Peers of Flysbs Aviation Ltd.

No listed peer of a similar size is engaged in the same lines of business as mentioned in the RHP.

Valuation

Metric	Value
ROE	32.25%
ROCE	41.80%
Debt/Equity	0.14
RoNW	32.25%
PAT Margin	14.54%
EBITDA Margin	21.20%
Price to Book Value	2.23

 

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 25.47 from the last year, the resulting P/E ratio is 8.83x (taking the upper price).

Explore the B.D Industries IPO.

IPO's Strengths 

• Senior management and seasoned promoters with a wealth of domain expertise.

• Strategic placement in a field with a high barrier to entry.

• Internal fleet and prior experience operating flights.

• Synergies with Afcom Holdings Limited, the group firm.

• Aircraft maintenance, operational excellence, and customized customer solutions.

IPO’s Weaknesses

• FlySBS’s entire business depends on its contract with SpiceJet, constituting a major part of its revenues. In case there is termination or non-renewal of this contract, the financial position of the Company will undergo a severe impact.

• With a limited track record of around 3 years, there is little historical data to assess the long-term business performance or the stability of the business.

• FlySBS maintains relationships with third-party service providers for aircraft maintenance, fuel, manpower, and so forth, but does not have long-term binding contracts with them.

• The industry is highly regulated, and as to which, it is susceptible to fuel price alterations, currency exchange variations, and government changes.

Flysbs Aviation IPO GMP

Flysbs Aviation IPO GMP (grey market premium) is Rs. 150 as of 30 Jul 2025 at the time of writing this information. Hence, the Flysbs Aviation IPO listing price (estimated) might be Rs. 375 (upper price + current GMP).

Flysbs Aviation IPO Summary

The Flysbs IPO has a market maker portion size of 2,29,800 Shares (Rs. 5.17 Cr).

IPO Opening & Closing Date	01 Aug, 2025 to 05 Aug, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 210 to Rs. 225 per Share.
Lot Size	600 Shares
Issue Size	45,57,000 Shares (Rs. 102.53 Cr)
Offer for Sale	-
Fresh Issue	45,57,000 Shares (Rs. 102.53 Cr)
Listing at	NSE, SME
Issue Type	Bookbuilding Issue
Registrar	MUFG Intime India Private Limited (Link Intime)

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (1200 Shares) for Rs. 2,70,000 and in multiples thereof, while for HNI investors, the minimum Lot is 3 (1800 Shares) for Rs. 4,05,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

IPO Reservation (% of Net Issue)

Institutional’s Portion	50%
Retail’s Portion	35%
Non-Institutional Portion	15%

 

Flysbs Aviation IPO Allotment Status

To check the IPO Allotment Status of Flysbs Aviation, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using Registrar’s Website- Link Intime IPO allotment status

Using BSE Website- ​BSE IPO allotment status

Promoters And Management of Flysbs Aviation Ltd.

• Ambashankar

• Capt. Deepak Parasuraman

• Kannan Ramakrishnan

• Bastimal Kishanraj

• Shreshtha Business Solutions LLP.

Pre-Issue Promoter Shareholding	44.08%
Post-Issue Promoter Shareholding	32.47%

 

IPO Lead Managers

• Vivro Financial Services Private Limited.
  
  
  

 

Dividend Policy

The company has not paid a dividend in the last three financial years.

Conclusion

With a focus on upscale private aircraft, Flysbs Aviation IPO offers robust financial development. But major hazards like reliance on SpiceJet and the absence of long-term agreements make one cautious. For well-informed investors, its cheap P/E ratio and excellent ROE make values appealing. Risks include contract stability, business sustainability, and sector volatility.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.