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Flysbs Aviation IPO
FlySBS Aviation Ltd
₹1,26,000 /600 sharesMinimum Investment
Flysbs Aviation IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹225.00 | ₹427.50 | ₹202.50 (90.00%) |
Flysbs Aviation IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 1 Aug ‘25 - 5 Aug ‘25 | ₹2,52,000 | 600 | ₹210 - ₹225 |
| Issue Size | IPO Doc |
|---|---|
| 102.53Cr | RHP PDF |
Subscription rate
As of 05 Aug'25, 05:00 PM
| Qualified Institutional Buyers | 192.01x |
| Non-Institutional Investor | 564.47x |
| Retail Individual Investor | 285.25x |
| Total | 295.79x |
About Flysbs Aviation
Founded in
2020
Managing director
Mr Deepak Parasuraman
Parent organisation
FlySBS Aviation Ltd
Strengths & Financials of Flysbs Aviation
Strengths
Risks
Flysbs Aviation operates in a highly regulated and demand-intensive sector, where significant barriers to entry limit competition. The company claims to have established a comprehensive operational framework, including necessary certifications and infrastructure, which strengthens its position as a trusted player.
Flysbs Aviation operates a diverse fleet, including a 13-seater Embraer Legacy 600, along with various business jets on wet lease. The aircraft, such as the Dassault Falcon 2000 and Bombardier Global 6000, are known for their performance and reliability. The company claims that its operational experience and fleet acquisition capabilities allow it to scale operations, meeting growing client demands with suitable aircraft options for different itineraries and budgets.
Flysbs Aviation claims to benefit from its close association with Afcom Holdings Limited, an international cargo airline. It states that this collaboration allows the company to negotiate better terms for essential services like fuel procurement and maintenance, while leveraging Afcom's network and industry expertise to improve its operational capabilities.
The company claims to have developed efficient processes to ensure smooth and reliable operations, including partnerships with a Directorate General of Civil Aviation (DGCA)-approved maintenance, repair, and overhaul (MRO) service provider.
The company has reported a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 34.11 crore in FY23 to Rs 106.49 crore in FY24 and Rs 193.89 crore in FY25. PAT increased from Rs 3.44 crore in FY23 to Rs 11.25 crore in FY24 and Rs 28.41 crore in FY25.
Aviation turbine fuel (ATF) is a major component of the company’s direct operating expenses. It accounted for Rs 6.49 crore (14.54 percent) of the company’s revenue from dry lease aircraft in FY25, and Rs 1.44 crore (14.22 percent) in FY24. Any increase in the rate of ATF could adversely affect Flysbs Aviation's operations and financials.
The top five suppliers accounted for Rs 125.18 crore (86.39 percent) of the company’s direct operating expenses in FY25, Rs 81.50 crore (91.83 percent) in FY24, and Rs 27.21 crore (97.61 percent) in FY23. Furthermore, the top supplier alone accounted for Rs 55.62 crore (38.39 percent) of the company’s direct operating expenses in FY25, Rs 39.18 crore (43.86 percent) in FY24, and Rs 14.44 crore (51.78 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The top five clients accounted for Rs 175.56 crore (90.54 percent) of the company’s revenue in FY25, Rs 99.89 crore (93.80 percent) in FY24, and Rs 30.86 crore (90.47 percent) in FY23. Furthermore, the top client alone accounted for Rs 78.63 crore (40.55 percent) of the company’s revenue in FY25, Rs 48.08 crore (45.15 percent) in FY24, and Rs 15.74 crore (46.16 percent) in FY23. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients can adversely affect the company’s business and financial standing.
Flysbs Aviation relies on third-party contractors to provide essential services, such as aircraft maintenance, satellite navigation, and software subscriptions. Any loss, expiration, or failure to renew these contracts, or an inability to negotiate comparable rates with other providers, could harm the company's operations.
Flysbs Aviation’s operations are subject to seasonal fluctuations, with certain periods seeing increased demand due to factors like tourism, sports events (e.g., Indian Premier League, Indian Super League), weddings, and elections. Conversely, unfavourable seasons, such as the monsoon, may lead to reduced activity and less optimal operational conditions. Any inability to address this fluctuation in demand could adversely affect the company’s business and financial condition.
The company reported negative cash flow from investing activities amounting to Rs 27.60 crore in FY25, Rs 37.29 crore in FY24, and Rs 2.47 crore in FY23. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
As of FY25, the company had outstanding financial indebtedness amounting to Rs 17.93 crore. Any failure to service or repay these loans on time could harm the company’s operations and financial position.
Flysbs Aviation Financials
*All values are in Rs. Cr
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Application Details of Flysbs Aviation IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹210 - 225 | ₹2 - 5 Lakh |
| High Networth Individual | ₹210 - 225 | ₹2 - 5 Lakh |
For Flysbs Aviation IPO, eligible investors can apply as Regular.