Flysbs Aviation IPO Makes 90% Premium Debut, Hits Upper Circuit

The private jet services provider, Flysbs Aviation Limited, made an exceptional debut on NSE SME on August 8, 2025. After closing its IPO bidding between August 1-5, 2025, the company commenced trading with a massive 90% premium at ₹427.50, hitting upper circuit and reflecting overwhelming investor confidence in the aviation sector.

Flysbs Aviation Listing Details

Flysbs Aviation Limited launched its IPO at ₹225 per share with a minimum investment of 1,200 shares costing ₹2,70,000. The IPO received exceptional response with a subscription of 318.68 times - NII leading at 563.64 times, individual investors at 286.06 times, and QIB at 191.93 times, indicating unprecedented investor appetite for the private aviation business model.

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First-Day Trading Performance Outlook

Listing Price: The Flysbs Aviation share price opened at ₹427.50 on NSE SME, representing a premium of 90% from the issue price of ₹225, delivering substantial gains of approximately ₹24,300 per lot for investors and hitting upper circuit immediately post listing.

Growth Drivers and Challenges

Growth Drivers:

Exceptional Financial Growth: Revenue surged 83% to ₹195.38 crore in FY25 with PAT jumping 153% to ₹28.41 crore, reflecting robust demand for private aviation services and operational efficiency improvements.

Strategic Fleet Expansion: Plans to acquire six new aircraft on long-term dry lease basis using IPO proceeds, significantly expanding operational capacity and service capabilities.

High-Barrier Industry Position: Operating in exclusive private aviation sector with high entry barriers, serving ultra-high net worth individuals and corporations across domestic and international routes.

Strong Operational Metrics: Total flying hours of 2,600 hours in FY25 including 1,812 international hours, demonstrating operational excellence and global reach capabilities.
 

Challenges:

High Capital Requirements: Aviation business demands substantial ongoing capital investment for aircraft acquisition, maintenance, and operational compliance affecting cash flows.

Economic Sensitivity: Luxury aviation services vulnerable to economic downturns and corporate spending cuts potentially impacting demand patterns.

Regulatory Compliance: Operating under stringent aviation regulations and safety requirements affecting operational flexibility and cost structures.

Market Competition: Growing competition in private aviation sector with established players and new entrants potentially affecting pricing power and market share.
 

Utilisation of IPO Proceeds

Aircraft Acquisition: ₹80.47 crore for funding capital expenditure towards acquisition of six new aircraft on long-term dry lease basis, expanding fleet capacity and service offerings.

Debt Reduction: ₹7.28 crore for repayment of outstanding borrowings, improving capital structure and reducing financial leverage for future growth initiatives.
 

Financial Performance of Flysbs Aviation

Revenue: ₹195.38 crore for FY25, showing impressive 83% growth from ₹106.72 crore in FY24, reflecting strong demand recovery and market expansion in the private aviation segment.

Net Profit: ₹28.41 crore in FY25, representing exceptional 153% growth from ₹11.25 crore in FY24, indicating substantial operational efficiency improvements and margin expansion.

Financial Metrics: Strong ROE of 32.25%, impressive ROCE of 41.80%, low debt-to-equity of 0.14, solid RoNW of 32.25%, healthy PAT margin of 14.54%, strong EBITDA margin of 21.20%, reasonable Price to Book Value of 2.23, and market capitalisation of ₹389.33 crore.