Flysbs Aviation IPO 2025: Date, Review, Price, Allotment Details
The Flysbs Aviation IPO, an NSE SME IPO from Chennai-based FlySBS Aviation Limited, opens for subscription on August 1, 2025, and closes on August 5, 2025, aiming to raise ₹125 crores. Priced at ₹462–₹482 per share, this IPO targets investors seeking exposure to India’s growing private jet charter market. As of July 25, 2025, the grey market premium (GMP) ranges from ₹75–₹85, suggesting potential listing gains of 16–18%. This article provides a detailed overview of the Flysbs Aviation IPO, including key dates, price details, financial performance, review, and allotment process to guide investors.
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Flysbs Aviation IPO Details
The Flysbs Aviation IPO is a book-built issue comprising a fresh issue of 25.95 lakh equity shares (₹125 crores) with a face value of ₹10 per share. Below are the key details based on the Draft Red Herring Prospectus (DRHP) and recent updates:
| Particulars | Details |
|---|---|
| IPO Open Date | August 1, 2025 |
| IPO Close Date | August 5, 2025 |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹462 to ₹482 per share |
| Issue Size | Approx. ₹125 crores (25.95 lakh shares) |
| Fresh Issue | Approx. ₹125 crores (25.95 lakh shares) |
| Offer for Sale | Nil |
| Lot Size | 300 shares |
| Issue Type | Book Built Issue |
| IPO Listing | NSE SME |
| Retail Quota | Not more than 35% |
| QIB Quota | Not more than 50% |
| NII Quota | Not more than 15% |
| DRHP Draft Prospectus | Click Here |
| RHP Draft Prospectus | Click Here |
| Anchor Investors List | Click Here |
| Book Running Lead Manager | Vivro Financial Services Private Limited |
| Registrar | MUFG Intime India Private Limited (Link Intime) |
The IPO allocates 50% to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 35% to Retail Individual Investors (RIIs), with a market maker reservation of 1.30 lakh shares. The minimum investment for retail investors is ₹1,44,600 (300 shares at ₹482).
Flysbs Aviation IPO Market Lot
The Flysbs Aviation IPO minimum market lot is 300 shares with a ₹1,44,600 application amount at the upper price band. Retail investors can apply for up to 1 lot due to the ₹2 lakh cap, while HNIs have higher minimums, per NSE SME bidding rules effective July 1, 2025.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 300 | ₹1,44,600 |
| Retail Maximum | 1 | 300 | ₹1,44,600 |
| S-HNI Minimum | 2 | 600 | ₹2,89,200 |
| B-HNI Minimum | 5 | 1,500 | ₹7,23,000 |
Note: The original document’s market lot table contained placeholders; values are updated based on a 300-share lot size and ₹482 upper price band, aligned with X posts and SME IPO norms.
Flysbs Aviation IPO Dates
The key dates for the Flysbs Aviation IPO are as follows:
| Event | Date |
|---|---|
| IPO Open Date | August 1, 2025 |
| IPO Close Date | August 5, 2025 |
| Basis of Allotment | August 6, 2025 |
| Refunds | August 7, 2025 |
| Credit to Demat Account | August 7, 2025 |
| IPO Listing Date | August 8, 2025 |
Investors can track subscription status on the NSE or the registrar’s portal (Link Intime) during the subscription period. Bidding closes at 4:00 PM on August 5, with UPI mandate acceptance until 5:00 PM.
Promoters of Flysbs Aviation IPO
The promoters are Ambashankar, Captain Deepak Parasuraman, Kannan Ramakrishnan, Shreshtha Business Solutions LLP, and Bastimal Kishanraj.
About Flysbs Aviation IPO
Incorporated on August 7, 2020, FlySBS Aviation Limited, formerly FlySBS Aviation Private Limited, is a DGCA-approved non-scheduled airline operator based in Chennai, Tamil Nadu. The company provides premium private air charter services, catering to elite clientele such as entrepreneurs, corporate executives, diplomats, and celebrities. Operating a 13-seater Embraer Legacy 600 aircraft under a dry lease model, FlySBS offers tailored travel solutions with flexible schedules, privacy, and premium amenities. It serves domestic and international routes across six continents, including Japan, the Middle East, New Zealand, Europe, North America, and Africa, with a presence at Dubai’s Al Maktoum private jet terminal. As of March 31, 2025, it recorded 2,600 flying hours (1,812 international) and employs 22 permanent staff with two retainers. The company plans to expand its fleet to nine aircraft by FY26, targeting ₹400 crores+ revenue in FY26 and ₹600 crores+ in FY27, with a subscription-based model for fixed flying hours. FlySBS is part of the Afcom Holdings promoter group, enhancing operational synergies.
Flysbs Aviation IPO Company Financial Report
FlySBS Aviation has shown robust financial growth, driven by demand for luxury air travel. Below is a summary of its financial performance:
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | Profit After Tax (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | 34.68 | 30.57 | 3.44 | 20.12 |
| 2024 | 106.72 | 92.81 | 11.25 | 77.15 |
| 2025 | 181.27 | 145.62 | 27.04 | 195.53 |
Revenue grew by 83% and PAT by 153% from FY24 to FY25 (annualized), with a net worth of ₹96.16 crores. Note: FY25 figures are annualized based on restated financials, aligning with some sources reporting ₹181.27 crores revenue and ₹27.04 crores PAT.
Flysbs Aviation IPO Valuation – FY2025
Key valuation metrics for Flysbs Aviation IPO based on FY25 financials (annualized) are as follows:
| KPI | Values |
|---|---|
| ROE | 21.09% |
| ROCE | 36.46% |
| EBITDA Margin | 21.05% |
| PAT Margin | 14.92% |
| Debt to Equity Ratio | 0.14 |
| Earning Per Share (EPS) | ₹24.23 (Basic) |
| Price/Earning P/E Ratio | 19.89 (at ₹482) |
| Return on Net Worth (RoNW) | 21.09% |
| Net Asset Value (NAV) | ₹86.21 |
The P/E ratio is calculated based on FY25 EPS and the upper price band, indicating a reasonable valuation. Note: EPS and NAV differ slightly from the original due to annualized FY25 data.
Peer Group Comparison
No listed companies in India have business operations directly comparable to FlySBS Aviation’s private jet charter services, as it operates in a high-entry-barrier niche.
| Company | EPS | PE Ratio | RoNW % | NAV | Income (₹ Cr) |
|---|---|---|---|---|---|
| NA | – | – | – | – | – |
Objects of the Issue
The net proceeds from the fresh issue will be used for:
- Funding capital expenditure for acquiring six new aircraft on a long-term dry lease basis.
- Repayment/prepayment of certain outstanding borrowings.
- General corporate purposes.
Flysbs Aviation IPO Review
The Flysbs Aviation IPO, opening August 1, 2025, has garnered attention, with NSE granting in-principle approval and X posts highlighting strong investor interest. The ₹125 crore fresh issue, priced at ₹462–₹482, targets growth in India’s luxury air travel market, projected to grow with rising demand from high-net-worth individuals. FlySBS operates a 13-seater Embraer Legacy 600, with 2,600 flying hours in FY25 (up from 1,486 in FY24), and plans to expand to nine aircraft by FY26, targeting ₹400 crores+ revenue. FY25 financials show ₹181.27 crores revenue (up 83%) and ₹27.04 crores PAT (up 153%), with a 21.09% RoNW and low 0.14 debt-to-equity ratio. The P/E ratio of 19.89 (at ₹482) suggests reasonable valuation for a niche player. The GMP of ₹75–₹85 indicates 16–18% listing gains, though high QIB allocation (50%) may limit retail allotments if oversubscribed. Broker reviews are limited, but Hem Securities recommends applying for long-term gains, citing fleet expansion and market potential, while cautioning on high valuations. X posts suggest a 20x P/E pricing expectation, aligning with the announced band.
Recommendation: Ideal for long-term investors with high risk tolerance, given strong financials and sector growth. Short-term investors should monitor GMP and subscription trends due to potential allotment challenges. Consult a financial advisor before investing.
Flysbs Aviation IPO Registrar
MUFG Intime India Private Limited (Link Intime)
Phone: +91-22-4918 6270
Email: flysbsaviation.ipo@in.mpms.mufg.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html[](https://www.chittorgarh.com/ipo/flysbs-aviation-ipo/2418/)
IPO Lead Managers aka Merchant Bankers
Company Address
Flysbs Aviation Ltd.
Plot No. 16 (NP), 3rd Floor, Indiqube Palmyra,
SIDCO Industrial Estate, Ekkatuthangal,
Guindy Industrial Estate,
Chennai, Tamil Nadu, 600032
Phone: +91-44-2260-4444
Email: corporate@sbsaviation.in
Website: https://sbsaviation.in/[](https://ipowatch.in/flysbs-aviation-ipo-date-review-price-allotment-details/)
Flysbs Aviation IPO FAQs
What is Flysbs Aviation IPO?
Flysbs Aviation IPO is an NSE SME IPO to raise ₹125 crores via a fresh issue of 25.95 lakh shares. The issue is priced at ₹462 to ₹482 per share and will list on NSE SME.
When will Flysbs Aviation IPO open for subscription?
The IPO opens on August 1, 2025, and closes on August 5, 2025.
What is Flysbs Aviation IPO Investors Portion?
The investors’ portion is 50% for QIB, 15% for NII, and 35% for Retail.
How to Apply for the Flysbs Aviation IPO?
Apply via ASBA online through your bank account or UPI through stock brokers like Zerodha or Upstox. Alternatively, fill an offline IPO form and submit it to your broker.
What is Flysbs Aviation IPO Issue Size?
The issue size is ₹125 crores, comprising a fresh issue of ₹125 crores.
What is Flysbs Aviation IPO Price Band?
The price band is ₹462 to ₹482 per share.
What is Flysbs Aviation IPO Lot Size?
The minimum lot size is 300 shares, with a ₹1,44,600 application amount at the upper price band.
What is the Flysbs Aviation IPO Allotment Date?
The allotment date is August 6, 2025.
What is the Flysbs Aviation IPO Listing Date?
The listing date is August 8, 2025, on NSE SME.
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