Incorporated in September 2021, Fly-Hi Maritime Travels Limited is a specialized maritime travel company engaged in providing end-to-end crew travel and mobility solutions for commercial shipping companies. The Company manages travel arrangements for seafarers from their home countries to their designated ports of boarding, including airline ticketing, route planning, ground transportation, hotel bookings, visa coordination and 24/7 travel support.
The Company offers customized travel solutions designed around vessel schedules, crew joining windows and the requirements of multinational shipping crews. Its services include global crew ticketing, visa and immigration coordination, OK-to-board confirmations, real-time travel monitoring, disruption handling, emergency support and boarding confirmation. The Company operates through a centralized operational model, with its operations managed from its Mumbai corporate office, while also having a distributor in the UAE to support certain international customers.
Fly-Hi Maritime Travels serves commercial shipping companies across more than six countries, including Cyprus, Greece, the USA, the UK, Singapore, UAE and India. The Company is an International Air Transport Association (IATA) accredited company and its registered office has been recognized as a startup by the Department for Promotion of Industry and Internal Trade (DPIIT).
As of July 31, 2026, the Company had a workforce of 54 employees across travel operations, marketing and sales, visa operations, finance, IT, HR and other support functions.
Competitive Strengths
Fly-Hi Maritime Travels Ltd.’s revenue increased by 36% and profit after tax (PAT) rose by 145% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 37.94 | 23.00 | 16.47 |
| Total Income | 62.21 | 45.75 | 45.41 |
| Profit After Tax | 8.43 | 3.44 | 1.82 |
| EBITDA | 12.49 | 5.27 | 2.68 |
| NET Worth | 17.96 | 9.53 | 6.09 |
| Reserves and Surplus | 12.95 | 9.52 | 6.08 |
| Total Borrowing | 12.97 | 10.03 | 4.84 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| UHM Vacation Ltd. | SME | ₹36.00 Cr | ₹166 | 11.32 | ₹126.20 | -23.98% | ₹32.00 |
| Western Overseas Study Abroad Ltd. | SME | ₹10.07 Cr | ₹56 | 10.67 | ₹52.16 | -6.86% | ₹16.30 |
| Helloji Holidays Ltd. | SME | ₹10.97 Cr | ₹118 | 14.07 | ₹123.90 | +5.00% | ₹128.75 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of the Company | 24.24 |
| 2 | Repayment and/or pre-payment, in part, of borrowing availed by the Company | 4.00 |
| 3 | Towards Business Marketing and Development activities | 1.80 |
| 4 | General Corporate Purposes | 6.37 |
| 5 | Issue Expenses | 6.03 |
| Total | 42.44 |
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 61.29% | 44.08% |
| ROCE | 67.22% | 45.18% |
| Debt/Equity | 0.72 | 1.05 |
| RoNW | 61.29% | 44.08% |
| PAT Margin | 13.58% | 7.59% |
| EBITDA Margin | 20.14% | 11.60% |
| NAV | 17.92 | 9534.00 |
| Price to Book Value | 5.69 | 0.01 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 8.41 | 5.94 |
| P/E (x) | 12.13 | 17.17 |
| IPO Date | 1 to 3 Sep, 2026 |
| Listing Date | Tue, Sep 8, 2026T |
| Face Value | ₹5 per share |
| Issue Price | ₹102 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 51,60,000 shares (agg. up to ₹53 Cr) |
| Reserved for Market Maker | 2,64,000 shares (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 38,96,400 shares (agg. up to ₹40 Cr) |
| Offer for Sale | 9,99,600 shares of ₹5 (agg. up to ₹10 Cr) |
| Net Offered to Public | 48,96,000 shares (agg. up to ₹50 Cr) |
| Share Holding Pre Issue | 1,00,20,000 shares |
| Share Holding Post Issue | 1,41,80,400 shares |
The promoters of the company are Jitendra Kumar Negi and Mridul Dilip Singhvi.
| Share Holding Pre Issue | 80% |
| Share Holding Post Issue | 49.48% |
As per our analysis and Based on the information we have, this is the output.
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