Fly-Hi Maritime Travels made its debut on the BSE SME platform with mixed results, trading at ₹81.60 on the first day, representing a 20% discount to the issue price of ₹102. According to reports from Business Standard, the scrip was listed at ₹81.60, marking a 20% discount to the initial public offer price. The stock is currently frozen at its lower limit of 5% over its listing price, with the counter hitting a high of ₹81.60 and a low of ₹77.55. Approximately 17,000 shares of the company changed hands during the trading session.
The company's IPO was subscribed 2.07 times and opened for bidding on 1 September 2026, closing on 3 September 2026. As reported by Business Standard, the IPO comprised 51,60,000 equity shares, including a fresh issue of 41,60,400 shares and an offer for sale of 9,99,600 shares by selling shareholder Jitender Kumar. The issue was priced at ₹102 per share for the fresh issue component. The IPO structure was classified as a Public Cum Offer for Sale (Fixed Portion) with a minimum investment requirement of ₹122,400. The listing details show 24,48,000 shares offered to individual investors and 3,60,000 shares to HNI category investors, with the company raising ₹24.48 crore from the individual portion.
Fly-Hi Maritime Travels provides end-to-end travel management services for crew members of commercial shipping companies, including airline tickets, ground transportation, hotel accommodation, visa applications and other travel requirements. According to Business Standard, the company serves commercial shipping companies across more than six countries, with overseas operations contributing 90.33% of FY26 revenue at ₹56.03 crore, while India accounted for 9.67% at ₹5.99 crore. Maharashtra contributed 8.09% of total revenue during the year. As of 31 July 2026, the company had 54 employees, excluding its non-executive independent director.
The company recorded revenue from operations of ₹62.03 crore and net profit of ₹8.42 crore for the financial year ended 31 March 2026. As reported by Business Standard, the company intends to utilize the net proceeds from the issue towards funding its working capital requirements, repayment and/or pre-payment of certain borrowings, talent acquisition for business marketing and development activities, and general corporate purposes.
