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The IPO of FlySBS Aviation Ltd comprises a fresh issue of up to 45,57,000 equity shares. There is no offer for sale in this IPO, which is a 100% book-built issue. The price band is [TBA] and the lot size is [TBA].
The IPO opens on [TBA] and closes on [TBA]. The listing date is [TBA]. The allotment date is [TBA]. The credit of shares to the demat account will take place on [TBA]. The initiation of refunds will take place on [TBA].
FlySBS Aviation Ltd is into the business of providing private, non-scheduled air charter services from India, focusing on delivering seamless air travel solutions to elite clientele. It’s a DGCA approved non-scheduled airline operator holding a valid air operator permit. Its customer base includes entrepreneurs, senior corporate executives, politicians, diplomats, celebrities, and other VIPs, all of whom require tailored services to meet their specific travel needs.
Investor Category | Shares Offered |
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QIBs | Not more than 50% of the net issue size |
Non-institutional Investors | Not less than 15% of the issue |
Retail Individual Investors | Not less than 35% of the issue |
The global airline industry plays a pivotal role in connecting virtually every country, facilitating a truly interconnected global economy. Beyond just moving people and goods, industry itself is a major economic engine, impacting various sectors like aircraft manufacturing, tourism, and more. Few industries receive as much attention as airlines, whether from those operating within the industry, government policy makers, media outlets, or the billions of passengers who use their services.
The global aviation market size was valued at approximately $1,011 billion in 2023. The market is projected to grow at a CAGR (Compound Annual Growth Rate) of 6-8% from 2023 to 2029, driven by increasing air passenger traffic, rising disposable incomes, and growing tourism across emerging economies.
On the other hand, the private jet industry in developed economies has shown significant growth, driven by rising demand for exclusive, flexible, and time-efficient travel. High-net-worth individuals, corporations, and executives prefer private jets for their privacy, convenience, and ability to access smaller, less congested airports. The pandemic accelerated demand as travellers sought safer alternatives to commercial flights.
Also, the market size of Indian aviation stands at around $15 billion as of FY23. The industry has grown at a CAGR of 10.3% from FY19-FY23. Furthermore, the industry is expected to grow at a CAGR of 7-9% to reach $22-27 billion until FY29.
FlySBS Aviation Ltd is engaged in the business of providing private, non-scheduled air charter services from India, focusing on delivering seamless air travel solutions to elite clientele. It’s a DGCA-approved non-scheduled airline operator holding a valid air operator permit.
Its customer base includes entrepreneurs, senior corporate executives, politicians, diplomats, celebrities, and other VIPs, all of whom require tailored services to meet their specific travel needs. These demands often encompass flexible flight schedules, access to exclusive destinations, premium luxury amenities, privacy, and stringent security protocols.
Its charter services cater to a range of specific travel needs, such as direct travel convenience, multi-destination within tight timeframes, or access to locations lacking commercial flight connectivity. Additionally, its services are frequently sought for critical purposes like medical emergencies, key business meetings, promotional events, and other high-priority engagements.
TBA
The company’s charter services cater to a range of specific travel needs, such as direct travel convenience, routes to multiple destination within tight timeframes, or access to locations lacking commercial flight connectivity. It offers comprehensive air chartering services, operating dynamically across domestic and international routes.
The revenue from operations of FlySBS Aviation Ltd grew from ₹27.2373 crores in FY 22 to ₹106.4869 crores in FY 24, while its EBITDA margin grew from 6.10% in FY 22 to 14.04% in FY 24. Its PAT margin grew from 3.61% in FY 22 to 10.54% in FY 24. Total departures increased from 158 in FY 22 to 361 in FY 24, while unique destinations touched increased from 79 in FY 22 to 301 in FY 24.
Also, its total aircraft flying hours have significantly increased over the last three fiscal years and for the nine months period ended December 31, 2024. Its total aircraft flying hours were 633 hours, 522 hours, 1,486 hours, and 1,849 hours, respectively.
FlySBS Aviation Ltd currently provides private air-chartering services in India with an operating base located in Chennai, Tamil Nadu. It has successfully flown clients to diverse destinations worldwide, spanning six continents.
This includes routes to the far east in Japan, the Middle East, New Zealand, the Arctic regions of Europe and North America, and as far as Mauritania in Africa. Its operational reach demonstrates its ability to connect clients with a wide array of global destinations, fulfilling its unique travel requirements.
Parameter | FY 24 | FY 23 | FY 22 |
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Total Revenue (in ₹ crore) | 106.72 | 34.68 | 27.75 |
Profit /(Loss) Before Tax (in ₹ crore) | 13.91 | 4.11 | 1.37 |
Profit After Tax (in ₹ crore) | 11.24 | 3.44 | 1.00 |
EBITDA (in ₹ crore) | 14.98 | 5.22 | 1.69 |
EPS in ₹ | 10.84 | 3.51 | 1.03 |
Parameter | FY 24 | FY 23 | FY 22 |
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Profit/ (Loss) Before Tax (in ₹ crore) | 13.91 | 4.11 | 1.37 |
Net Cash from Operating Activities (in ₹ crore) | 1.21 | 3.50 | 0.73 |
Net Cash Used in Investing Activities (in ₹ crore) | -37.28 | -2.47 | -0.71 |
Net Cash Used in Financing Activities (in ₹ crore) | 41.86 | 1.46 | -0.00 |
Cash and Cash Equivalents at the end of the Period (in ₹ crore) | 8.33 | 2.53 | 0.03 |
Visit the Registrar’s Website
Check on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO bid verification module. You can use it to check the status of FlySBS Aviation Ltd. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'. On the NSE IPO Bid Verification page, enter:
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
You can read more about FlySBS Aviation and its IPO from the company’s red herring prospectus (RHP) here.
The IPO of FlySBS Aviation Ltd consists of a fresh issue of up to 45,57,000 equity shares of face value of ₹10 each. There is no offer for sale in this IPO.
The exact dates of the FlySBS Aviation Ltd IPO are yet to be announced.