Latest News | FlySBS Aviation Fixes IPO Price Band at Rs 210-225/share; Issue to Open on Friday
Get latest articles and stories on Latest News at LatestLY. FlySBS Aviation, a non-scheduled airline operator, on Thursday said it has fixed a price band at Rs 210-225 per share for its Rs 102.5-crore IPO that will hit the capital markets on August 1.
New Delhi, Jul 31 (PTI) FlySBS Aviation, a non-scheduled airline operator, on Thursday said it has fixed a price band at Rs 210-225 per share for its Rs 102.5-crore IPO that will hit the capital markets on August 1.
The initial public offering (IPO) will conclude on August 5, and the company's shares will be listed on the NSE Emerge platform, the company said in a statement.
The IPO is entirely a fresh issue of 45.57 lakh equity shares with a face value of Rs 10 each, it added.
The net proceeds from the IPO will be utilised for funding capital expenditure towards the acquisition of six pre-owned aircraft on a long-term dry lease basis, repayment of debt, and general corporate purposes.
"This IPO will support our efforts to expand the fleet and extend our operational network. The proposed addition of aircraft through long-term dry lease arrangements, along with improved financial flexibility, will enable us to meet the increasing demand for efficient and time-sensitive air travel.
"We are committed to building on this progress in a structured and sustainable manner," Capt. Deepak Parasuraman, Managing Director of FlySBS Aviation Ltd, said.
Established in August 2020, FlySBS Aviation Ltd, formerly known as FlySBS Aviation, is an Indian aviation company specialising in private jet services.
The Chennai-headquartered firm provides private, non-scheduled air charter services from India, focusing on delivering seamless air travel solutions to its elite clientele.
Its total flying hours for FY25 were 2,600 hours, comprising 1,812 hours of international flying.
The company reported a revenue of Rs 195.38 crore and a profit after tax of Rs 28.41 crore in FY25.
Vivro Financial Services is the sole book-running lead manager, while MUFG Intime India is the registrar for the IPO.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)