Flysbs Aviation is launching its IPO through a bookbuilding process with a total issue size of ₹102.53 crore. This offering consists entirely of a fresh issue of 45.57 lakh equity shares. The IPO subscription window opens on August 1, 2025, and will remain open until August 5, 2025.
The basis of allotment is expected to be finalised on August 6, 2025. The shares are proposed to be listed on the NSE SME platform, with a tentative listing date of August 8, 2025.
The IPO has a price band of ₹210 to ₹225 per share. Each application requires a lot size of 600 shares. For retail investors, the minimum investment amount stands at ₹2,52,000 for 1,200 shares. High Net-worth Individuals (HNIs) are required to apply for at least three lots, which is 1,800 shares, amounting to ₹4,05,000.
Vivro Financial Services Private Limited is managing the book-running responsibilities, while MUFG Intime India Private Limited (Link Intime) is acting as the registrar. Giriraj Stock Broking Private Limited has been appointed as the market maker for this IPO. Refer to the RHP for complete details.
Industry Outlook
- The global aviation market, valued at $1,011 billion in 2023, is expected to grow at a CAGR of 6-8% till 2029, supported by rising air traffic and tourism in emerging economies.
- India’s aviation industry stood at $15 billion in FY23 and is expected to reach $22–27 billion by FY29, growing at a CAGR of 7-9%. Flysbs Aviation Limited is likely to benefit from the increasing air travel demand, and infrastructure growth, especially in tier 2 and tier 3 cities where regional connectivity is expanding rapidly.
- With plans to develop over 400 airports by 2047 and invest ₹98,000 crore in infrastructure, India is positioning itself as a major aviation hub.
Flysbs Aviation IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Flysbs Aviation aims to acquire six pre-owned aircraft on long-term dry lease to expand its fleet and enhance operations.
- A portion of the funds will be used to repay or prepay outstanding company borrowings to reduce debt burden.
- The remaining funds from the issue will be allocated towards general corporate purposes, helping the company strengthen its operational and financial position.
About Flysbs Aviation Limited
Flysbs Aviation Limited is a DGCA-approved Non-Scheduled Airline Operator offering private air charter services in India. The company caters primarily to elite clientele such as entrepreneurs, senior executives, politicians, celebrities, diplomats, and other VIPs who require tailored travel solutions.
These services often include flexible scheduling, luxury amenities, privacy, and access to exclusive destinations, including regions not served by commercial flights. Headquartered in Chennai, Tamil Nadu, Flysbs Aviation operates both domestic and international charter flights, reaching destinations across 6 continents.
Key routes include Japan, the Middle East, Europe, North America, New Zealand, and parts of Africa. The company initially operated on a wet lease model but later transitioned to a long-term dry lease structure. Currently, operations are supported by a 13-seater Embraer Legacy 600 aircraft.
The company has shown steady growth in aircraft flying hours—from 522 in FY23 to 2,600 in FY25—with international flying hours comprising a large portion of total operations. A majority of revenue is driven by corporate clients, contributing over 94% in FY24 and FY25.
Flysbs Aviation is promoted by Capt. Deepak Parasuraman, Kannan Ramakrishnan, and Ambashankar—each bringing decades of experience in aviation, luxury sectors, and client relationship management. The leadership team has played a significant role in shaping the company’s direction and building strong relationships with high net-worth individuals and corporate clients.
The company also benefits from a board comprising experts in finance, marketing, and corporate governance, helping to ensure strategic growth and compliance within the dynamic aviation industry.
How To Check the Allotment Status of Flysbs Aviation IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Flysbs Aviation IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Flysbs Aviation IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Flysbs Aviation IPO
Registered office: Plot no. 16 (NP), 3rd Floor, Indiqube Palmyra, SIDCO Industrial Estate, Ekkatuthangal, Guindy Industrial Estate, Chennai, Chennai City Corporation, Tamil Nadu – 600032, India
Phone: : +91-44 2260 4444
E-mail:corporate@sbsaviation.in
Flysbs Aviation IPO Reservation
|
Category of Investor |
Allocation from Net Issue |
|
Qualified Institutional Buyers (QIBs) |
Up to 50% of the net offer |
|
Retail Individual Investors (RIIs) |
Minimum 35% of the net offer |
|
Non-Institutional Investors (NIIs) |
Minimum 15% of the net offer |
Flysbs Aviation IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
2 |
1,200 |
₹2,52,000 |
|
Individual investors (Retail) (Max) |
2 |
1,200 |
₹2,70,000 |
|
S-HNI (Min) |
3 |
1,800 |
₹4,05,000 |
|
S-HNI (Max) |
7 |
4,200 |
₹9,45,000 |
|
B-HNI (Min) |
8 |
4,800 |
₹10,80,000 |
Flysbs Aviation IPO Promoter Holding
The promoters of the company include Ambashankar, Capt. Deepak Parasuraman, Kannan Ramakrishnan, Bastimal Kishanraj And Shreshtha Business Solutions LLP.
|
Share Holding Pre-Issue |
44.08% |
|
Share Holding Post Issue |
32.47% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Flysbs Aviation IPO
|
KPI |
Value |
|
Debt/Equity |
0.14 |
|
ROE (%) |
32.25 |
|
RoCE (%) |
41.80 |
|
RoNW (%) |
32.25 |
|
PAT Margin (%) |
14.54 |
|
EBITDA Margin (%) |
21.20 |
Flysbs Aviation IPO Prospectus
Flysbs Aviation IPO Registrar and Lead Managers
Flysbs Aviation IPO Lead Managers
- Vivro Financial Services Private Limited
Registrar for Flysbs Aviation IPO
MUFG Intime India Private Limited (Link Intime)
- Contact Number: +91-22-4918 6270
- Email Address: flysbsaviation.ipo@in.mpms.mufg.com
Flysbs Aviation IPO Registrar
Financial Performance of Flysbs Aviation Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 19,389.56 | 10,648.69 |
| Profit After Tax (in ₹ lakh) | 2,840.61 | 1,124.92 |
| Earnings per share (in ₹) | 25.47 | 14.41 |
| Net asset value per equity share (₹) | 101.08 | 49.14 |
| Return on Equity Ratio (%) | 32.25 | 38.35 |
| Return on capital employed (RoCE) (%) | 41.80 | 45.58 |
| EBITDA (in ₹ lakh) | 4,141.23 | 1,498.85 |
Know before investing
Strengths
8The company runs a 13-seater Embraer Legacy 600 aircraft on dry lease (aircraft leased without crew, maintenance, or insurance) for more control.
Logged 2,600 flying hours in FY25, with 1,812 hours on international routes.
94.48% of FY25 revenue came from mid to large corporate clients.
Fleet expansion underway with 6 more aircraft planned via IPO proceeds.
Industry entry barriers ensure low competition and protect market share.
Strategic partnership with Afcom Holdings boosts cost savings and efficiency.
Technology-led subscription model aims to simplify private flight bookings.
The Indian private jet market is projected to grow 13–15% CAGR over 5 years.
Risks
8Past delays in regulatory filings may lead to penalties and reputational damage.
Inability to meet VIP client expectations could hurt growth and reputation.
Fuel costs rose to ₹649.39 lakh in FY25, impacting operating margins.
Similar businesses by Group Companies may lead to competition and profit conflicts.
Directors' interest in similar entities can result in conflicts of interest.
One Promoter Group member faces legal proceedings that may affect business image.
Breach of aircraft lease covenants could disrupt operations and financial stability.
Pre-owned aircraft have limited lifespan, increasing maintenance and reliability concerns.
