31 Mar 2025
Assets64.65
Total Income23.64
EBITDA13.51
Profit After Tax10.92
NET Worth39.02
Reserves and Surplus31.36
Total Borrowing18.09
At a glance
Updated 2026-09-10The shares listed at ₹195.00, a 2.09% move from the issue price. Flywings Simulator Training is a SME IPO with an issue size of ₹57.05 crore, proposed for listing on NSE SME. The offer opens on 5th Dec 2025 and closes on 9th Dec 2025. The issue structure includes a fresh issue of ₹45.14 crore and an offer-for-sale component of ₹9.05 crore. The current listing schedule points to 12th Dec 2025.
Issue details
Listing atNSE SME
Issue typeBook Build Issue
Issue size₹57.05 Cr
Fresh issue₹45.14 Cr
Offer for sale₹9.05 Cr
Face value₹10
Price band₹181.00–₹191.00
Allotment10th Dec 2025
Listing12th Dec 2025
Listing performance
Full performance ↗Issue price₹191.00
Listing price₹195.00
Current price—
Listing gain2.09%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹0.00
GMP / upper price0.00%
Est. listing₹191.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens5th Dec 2025
Closes9th Dec 2025
Allotment10th Dec 2025
Refund11th Dec 2025
Demat11th Dec 2025
Listing12th Dec 2025
Subscription demand
Full bidding ↗QIB1.56×
sHNI1.09×
bHNI3.40×
NII / HNI3.40×
Retail0.97×
Total1.67×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Max) | 2 | 1200 | ₹229,200 |
| S-HNI (Min) | 3 | 1800 | ₹343,800 |
| S-HNI (Max) | 8 | 4800 | ₹916,800 |
| B-HNI (Min) | 9 | 5400 | ₹1,031,400 |
Reservation
Issue mix
QIB49.95%1,417,200 shares
Anchor Investor29.96%850,200 shares
QIB (Ex. Anchor)19.98%567,000 shares
NII (HNI)15.03%426,599 shares
bNII > ₹10L10.02%284,400 shares
sNII < ₹10L5.01%142,199 shares
Retail35.02%993,600 shares
Total100.00%2,837,399 shares
Company
Incorporated2011
Use of proceeds
| Object | Amount |
|---|---|
| Capital Expenditure towards Pilot Training Equipments | ₹35.34 Cr |
| General Corporate Purposes | ₹4.68 Cr |
| Issue Expenses | ₹7.97 Cr |
| Total | ₹47.99 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue4.24₹ Cr · -82.1% vs prior year
EBITDA2.30₹ Cr · -83.0% vs prior year
PAT1.38₹ Cr · -87.4% vs prior year
Assets59.40₹ Cr · -8.1% vs prior year
Net Worth40.40₹ Cr · +3.5% vs prior year
Borrowing14.78₹ Cr · -18.3% vs prior year
3-year financial trendRevenue / EBITDA / PAT
₹ crore30 Jun 2025
Assets59.40
Total Income4.24
EBITDA2.30
Profit After Tax1.38
NET Worth40.40
Reserves and Surplus32.74
Total Borrowing14.78
KPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 34.75% |
| ROCE | 28.62% |
| Debt / Equity | 0.37% |
| RoNW | 34.75% |
| PAT Margin | 54.02% |
| EBITDA Margin | 66.85% |
| Price to Book Value | 3.75 |
Valuation & shareholding
Pre-IPO EPS14.24
Post-IPO EPS5.42
Pre-IPO P/E13.41
Post-IPO P/E35.22
Promoter holding pre85.69%
Promoter holding post59.87%
Market cap₹194.38 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Flywings Simulator Training Centre IPO | — | 35.22 x | — | — |
| Fusion Klassroom IPO | — | 19.23 x | — | — |
| Western Overseas IPO | — | 15.51 x | — | — |
| Sodhani Academy IPO | — | 12.44 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Capital Expenditure towards Pilot Training Equipments | ₹35.34 Cr |
| General Corporate Purposes | ₹4.68 Cr |
| Issue Expenses | ₹7.97 Cr |
| Total | ₹47.99 Cr |
Registrar & lead managers
Registrar
Bigshare Services Pvt.Ltd.Lead managers
- Gretex Corporate Services Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-10.
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