How to Check Fly-Hi Maritime Travels IPO Allotment Status

Fly-Hi Maritime Travels Limited is a specialised maritime travel management company providing end-to-end crew travel and mobility solutions to commercial shipping companies. Incorporated in 2021, the company focuses on facilitating the movement of seafarers from their home countries to ports where they are scheduled to board vessels.

Its services include airline ticketing, route planning, ground transportation, hotel accommodation, visa and immigration coordination, travel monitoring and emergency assistance. The company manages these arrangements in line with vessel schedules and crew-change requirements.

Fly-Hi Maritime is IATA-accredited and follows a largely asset-light operating model. It serves commercial shipping companies across more than six countries and works with a distributor in the UAE to support international clients. As of July 31, 2026, the company had 54 employees.

Don’t Miss Out on the Next Big IPO – Invest With Just a Few Clicks!

Open Account Now

Fly-Hi Maritime IPO is a ₹52.63 crore fixed-price BSE SME issue comprising a fresh issue of 41.60 lakh shares and an offer for sale of approximately 9.996 lakh shares. The fresh issue aggregates to around ₹42.44 crore, while the OFS amounts to approximately ₹10.20 crore.

The IPO opened for subscription on September 1, 2026 and closed on September 3, 2026. The basis of allotment is scheduled for September 4, 2026, followed by initiation of refunds and credit of shares on September 7. The shares are scheduled to list on BSE SME on September 8, 2026.

The issue price is fixed at ₹102 per share, with a lot size of 1,200 shares. Individual Investors are required to apply for at least two lots or 2,400 shares, translating into a minimum investment of ₹2,44,800.

Corporate Makers Capital Limited is the book-running lead manager to the IPO, while KFin Technologies Limited is the registrar to the issue.

Registrar: KFin Technologies Limited

BSE: BSE IPO Allotment Status Page

Fly-Hi Maritime IPO Subscription Status

Fly-Hi Maritime IPO was subscribed 2.12 times by 5:06 PM on September 3, 2026, based on the supplied 5paisa subscription snapshot. The public issue received bids for 1,03,69,200 shares against 48,96,000 shares available for subscription.

The NII category remained below full subscription at 0.58 times in the supplied final-day snapshot. The category had recorded virtually no demand on the opening day and stood at 0.02 times on Day 2.

Overall subscription increased from 0.01 times on Day 1 to 0.08 times on Day 2, before reaching 2.12 times by 5:06 PM on September 3.

At the supplied cut-off, Individual Investors had bid for 89,47,200 shares against 24,48,000 shares reserved for the category, while NIIs had bid for 14,22,000 shares against 24,48,000 shares available.

Later exchange-based trackers show slightly different closing figures. Economic Times reports 2.18 times overall subscription, with Retail Investors at 3.66 times and NIIs at 0.69 times. The table above retains the 2.12-times 5paisa snapshot supplied, reflecting the 5:06 PM cut-off.

Fly-Hi Maritime IPO Share Price and Investment Details

Fly-Hi Maritime IPO is a fixed-price issue at ₹102 per share, with a lot size of 1,200 shares. Individual Investors are required to apply for at least 2,400 shares or two lots, resulting in a minimum investment of ₹2,44,800.

The IPO comprises 51.60 lakh shares, including a fresh issue of 41.604 lakh shares and an OFS of 9.996 lakh shares. At the issue price, the total offer aggregates to approximately ₹52.63 crore.

Of the total issue, 2.64 lakh shares are reserved for the market maker, leaving a net issue of 48.96 lakh shares. The NII and Individual Investor categories have been allocated 24.48 lakh shares each.

Based on the supplied subscription snapshot, Individual Investors led demand at 3.65 times, while the NII portion was subscribed 0.58 times. Overall subscription stood at 2.12 times.

The basis of allotment is scheduled for September 4, 2026, followed by refunds and credit of shares on September 7 and the proposed BSE SME listing on September 8.

Utilisation of IPO Proceeds

Fly-Hi Maritime proposes to utilise approximately ₹24.24 crore from the fresh issue proceeds towards funding its working-capital requirements. This represents the largest identified use of the net proceeds.

The company also proposes to utilise approximately ₹4 crore towards the repayment or prepayment, in part, of certain borrowings availed by the company.

Another ₹1.80 crore is proposed to be deployed towards talent acquisition for business marketing and development activities, supporting the company's plans to strengthen its sales and business-development capabilities.

Approximately ₹6.37 crore has been identified for general corporate purposes.

Unlike a fully fresh issue, Fly-Hi Maritime IPO also includes an OFS of approximately ₹10.20 crore. Proceeds from the OFS will go to the selling shareholder and will not be available to the company for its business requirements.

Business Overview

Fly-Hi Maritime operates in the specialised marine crew travel management segment, arranging travel for crew members of commercial shipping companies. Its role is to coordinate crew movement from a seafarer's home location to the relevant port of embarkation in accordance with vessel schedules and operational requirements.

Its service portfolio covers airline reservations, itinerary and route planning, visa assistance, hotel accommodation, ground transportation and other travel-related requirements. The company also provides travel monitoring and assistance when disruptions occur during crew movement.

The business follows a relatively asset-light model, relying on airline relationships, hotels, transportation providers and third-party travel aggregators rather than owning the underlying travel infrastructure. The company operates centrally while also using a distributor in the UAE for international business.

Fly-Hi Maritime derives a significant proportion of its business from overseas customers. In FY26, approximately 90.33% of revenue from operations came from outside India, while domestic operations contributed 9.67%. The company serves commercial shipping companies across more than six countries.

The company reported revenue from operations of ₹62.03 crore in FY26, compared with ₹45.39 crore in FY25 and ₹45.08 crore in FY24. Profit after tax increased to ₹8.43 crore in FY26, from ₹3.44 crore in FY25 and ₹1.82 crore in FY24.

EBITDA increased to approximately ₹12.49 crore in FY26, compared with ₹5.76 crore in FY25 and ₹3.07 crore in FY24. Total assets stood at ₹37.94 crore at the end of FY26, while net worth was ₹17.96 crore and total debt stood at ₹12.97 crore.

Despite the increase in profitability, operating cash flow was approximately negative ₹1 crore in FY26, compared with positive ₹0.9 crore in FY25. The sizeable ₹24.24 crore allocation towards working capital under the IPO also highlights the working-capital requirements of the company's travel-management model.

Key strengths include the company's focus on a specialised maritime travel niche, IATA accreditation, end-to-end crew travel services, international customer exposure, asset-light operating model and growth in revenue and profitability during FY26.

Investors should also consider risks associated with customer and geographical concentration, dependence on airlines and other third-party travel providers, foreign-exchange exposure, working-capital requirements, changes in international travel or immigration regulations and dependence on the commercial shipping industry. Overseas customers contributed more than 90% of FY26 revenue, increasing exposure to international markets.