Fly-Hi Maritime IPO
ListedSMEMiscellaneous
2.12×
Subscribed
Price band
₹102 – ₹102
Lot size
1,200
1 lot = ₹1,22,400
Issue size
₹52.63 Cr
Open – close
01 Sept 2026
to 03 Sept 2026
Listing
08 Sept 2026
Listing gain
-20.00%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
We can't judge this issue yet. A verdict needs at least three independent dimensions — valuation, growth, profitability, balance sheet, issue structure, governance or demand — and this issue does not yet publish enough of them for a read that would mean anything. No offer document for this issue has been published yet. A confident score from two fields would be worse than this notice.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens01 Sept 2026
- Closes03 Sept 2026
- Allotment04 Sept 2026
- Listing08 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Non-institutionalNII / HNI0.58x
Retail individualRII3.66x
4,054 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 03 Sept 2026.
Chance of allotment
Retail3.66× subscribed
~1 in 3.7
Minimum 2 lots · 2,400 shares · ₹2,44,800 blocked
Retail is 3.66× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 3.7 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII0.58× subscribed
Full allotment
Minimum 1 lot · 1,200 shares · ₹1,22,400 blocked
The HNI portion is under-subscribed at 0.58×, so applications should be allotted in full.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
Grey market premium
Unofficial dealer quotes — not published by NSE, BSE, SEBI or the company
₹20+19.6%
over the upper band · last seen 08 Sept 2026
What this number is not. Grey-market premium is an unregulated, thinly-traded quote from private dealers. It is not a forecast of the listing price, it is not verifiable, and it can be moved by the same people who benefit from it looking high. We publish it because you will look it up anyway — and we deliberately do not convert it into an expected listing gain, because that arithmetic implies a reliability the number has never earned. For what actually happened to comparable issues, see recent outcomes below.
The offering
Terms, structure and who is selling
Terms
Price band₹102 – ₹102
Face value₹5
Lot size1,200shares
Minimum application₹1,22,400at cut-off
Total issue size₹52.63 Cr
Listing atSME platform
Anchor investorsNone
Company & valuation
ROE61.29%
ROCE67.22%
Debt/Equity0.72
RoNW61.29%
PAT Margin13.58%
EBITDA Margin20.14%
NAV17.92
P/B (x)5.69
ISININE2J7801015
RegistrarKFin Techologies Ltd
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| NII (HNI) | 24,48,000 | 47.44% |
| Retail | 24,48,000 | 47.44% |
| Market Maker | 2,64,000 | 5.12% |
Total issue 51,60,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,44,8002 lots · 2,400 sh
Individual investors (IND) (Max)₹2,44,8002 lots · 2,400 sh
HNI (Min)₹3,67,2003 lots · 3,600 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Fly-Hi Maritime
Fly-Hi Maritime Travels Limited is a marine travel company engaged in managing end-to-end travel arrangements for crew members of commercial shipping companies. The company was incorporated in September 2021 and was converted into a public limited company in December 2025. The company manages various aspects of crew travel, including airline tickets, ground transportation, hotel accommodation, and visa applications, to facilitate the movement of crew members from their home countries to their designated ports of boarding. The company works with commercial shipping companies across more than six countries and focuses exclusively on addressing the travel requirements of maritime crew. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Funding working capital requirements of the company — Rs 24.24 crore Repayment and/or pre-payment, in full or in part, of certain borrowings availed by the company — Rs 4 crore Towards talent acquisition for business marketing and development activities — Rs 1.80 crore General corporate purposes — Rs 6.36 crore
Founded 2021MD Mr Jitendra Kumar NegiSector Miscellaneous
Offer documents
The primary sources everything above is drawn from
Common questions
What is the Fly-Hi Maritime IPO GMP today?
The most recent grey-market premium recorded for Fly-Hi Maritime is ₹20 per share — about 19.6% over the ₹102 upper band. Grey-market premium is an unofficial, unregulated quote from private dealers. It is not published by NSE, BSE, SEBI or the company, and it is not a forecast of the listing price.
How many times is the Fly-Hi Maritime IPO subscribed?
Fly-Hi Maritime is subscribed 2.12× overall (NII 0.58×, retail 3.66×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, KFin Techologies Ltd.
What is the minimum investment in the Fly-Hi Maritime IPO?
One lot is 1,200 shares, so a retail application at the ₹102 cut-off price blocks ₹1,22,400. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Fly-Hi Maritime IPO?
The retail portion is subscribed 3.66×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 4. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Fly-Hi Maritime IPO allotment date?
Allotment is scheduled for 2026-09-04, with listing on 2026-09-08. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, KFin Techologies Ltd.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.