FLYSBS Aviation Limited IPO

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FLYSBS Aviation Limited, based in Chennai, is a DGCA-approved non-scheduled airline operator offering luxury private air charter services. Catering to high-profile clients like executives, diplomats, and celebrities, the company provides secure, personalized travel experiences. Its flexible business model combines dry-lease and wet-lease aircraft to deliver cost-efficient operations, covering domestic and international routes for business, medical, and exclusive travel needs.

Services & Clientele

FLYSBS offers private air charters, multi-destination travel, medical evacuations, VIP movement, and luxury onboard services. Its clients include corporates, UHNWIs, and HNWIs, often flying to destinations beyond regular commercial routes.

Fleet & Operational Infrastructure

FLYSBS currently operates a 13-seater Embraer Legacy 600 under a long-term dry lease and supplements its fleet with wet-leased premium jets such as Dassault Falcon 2000, Bombardier Challenger 605, and Global 6000. These aircraft offer non-stop endurance of 6–16 hours and are selected based on client route and affordability.

To support operations, the company has partnered with DGCA-approved MRO providers and benefits from robust infrastructure for aircraft maintenance, crew training, and compliance. It operates with a professional team of 22 permanent employees, including 8 trained crew members, with additional staff on retainership for operational flexibility.

Domestic and International Reach

Domestic Reach: FLYSBS connects India’s major metros and Tier-2 cities such as Mumbai, Delhi, Chennai, Hyderabad, Vadodara, Coimbatore, Bhubaneswar, and Guwahati, offering flexible access to over 30+ airports across the country.

International Reach: The company has flown to all six continents, with destinations including Japan, New Zealand, Middle East, Arctic Europe, North America, and Mauritania (Africa). This reflects FLYSBS’s capability to execute complex international missions tailored to client needs.

Operational Scale and Growth

FLYSBS has demonstrated strong operational scalability:

– Flying hours increased from 522 hours in FY23 to 2,600 hours in FY25
– International flying hours rose from 375 hours to 1,812 hours during the same period
– Corporate clients accounted for 94–95% of revenue over the past three years, with the rest from UHNI/HNI individuals

The consistent rise in hours and revenue mix underscores the company’s strong traction in the corporate aviation segment.

Strategic Strengths

  1. Experienced Leadership: Promoters bring deep expertise in aviation, luxury, and operations.

  2. High Entry Barriers: Operates in a regulated, capital-intensive industry with limited competition.

  3. Fleet Growth: Plans to add two 13-seater jets under long-term dry lease.

  4. Group Synergies: Ties with Afcom Holdings enhance efficiency in MRO, fuel, and ground handling

Objects of the FLYSBS Aviation Limited IPO:

Company intends to utilize the proceeds raised through the Issue for the following objects: 1. Funding capital expenditure towards acquisition of six pre-owned aircraft on long term dry lease basis (₹80.47 crore) 2. Repayment/prepayment, in full or part, certain outstanding borrowings availed by our Company (₹7.27 crore) 3. General Corporate Purposes.

FLYSBS Aviation Limited IPO Details:

Open Date: Aug 01 2025
Close Date: Aug 05 2025
Total Shares: 45,57,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 102.53 Cr.
Lot Size: 600 Shares
Issue Price: ₹ 210-225 Per Equity Share
Listing At: NSE Emerge
Listing Date: Aug 08 2025

Promoters And Management:

1. Capt. Deepak Parasuraman, Managing Director and Promoter, holds a B.Com and a Doctorate in Trade & Trade Barriers. With 26 years of experience in the airline and air cargo industry, he has secured licenses for international cargo operations and worked with several renowned companies. He has been associated with the company since its inception. 2. Ambashankar, Whole-Time Director, CEO, and Promoter, is a graduate in Arts from the University of Madras with 23 years of experience in the luxury automobile sector. He has held leadership roles in companies like Mercedes-Benz, Emirates Trading Agency, Tata Finance, and Videocon. He oversees the company’s strategy, operations, and engineering, leveraging his strong background in aviation and technical management. 3. Kannan Ramakrishnan, Non-Executive Director and Promoter, is a science graduate and an ISB Executive Education alumnus. With 20+ years in retail and luxury automotive, he founded Shreshtha Business Solutions and has held leadership roles at Saud Bahwan Group, Dabur Pharma, and Trans Car India. He has been with the company since its incorporation.

Financials of FLYSBS Aviation Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations 193.89 106.48 34.10
EBITDA 41.41 14.98 5.22
EBITDA Margins 21.20% 14.04% 15.07%
PAT 28.4 11.24 3.44
PAT Margins 14.54% 10.54% 9.92%
ROCE 41.80% 45.58% 45.00%
Debt to Equity Ratio(In Times) 0.14 0.05 0.3
Operating Cash Flows 0.01 1.22 3.5

Comparison With Peers:

According to Company RHP There are no listed companies whose business operations are similar .

Lead Manager of FLYSBS Aviation Limited IPO:

  1. Vivro Financial Services Private Limited

Registrar of FLYSBS Aviation Limited IPO:

  1. MUFG Intime India Private Limited

Discussion on FLYSBS Aviation Limited IPO:

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