Flywings Simulator Limited Link 
Allotment
Flywings Simulator Training IPO is a book-built issue aggregating to ₹57.05 crore, comprising a fresh issue of 0.25 crore equity shares amounting to ₹47.99 crore and an offer for sale of 0.05 crore equity shares aggregating to ₹9.05 crore.
The IPO opened for subscription on December 5, 2025, and closed on December 9, 2025. The basis of allotment was finalized on December 10, 2025, and the equity shares were listed on the NSE SME platform on December 12, 2025.
The price band for the IPO is fixed at ₹191 per share. The lot size is 600 shares, requiring retail investors to apply for a minimum of two lots (1,200 shares), translating into a minimum investment of ₹2,29,200 at the upper price band.
For High Net-worth Individuals (HNIs), the minimum application is three lots (1,800 shares), amounting to ₹3,43,800.
Sobhagya Capital Options Pvt. Ltd. is the Book Running Lead Manager to the issue, while Bigshare Services Pvt. Ltd. has been appointed as the Registrar to the Issue. Gretex Share Broking Pvt. Ltd. acts as the Market Maker for the IPO.
Investors are advised to refer to the Flywings Simulator Training IPO Red Herring Prospectus (RHP) for detailed information.
₹191
0%
Open
₹191
HIgh - Low
₹191
Previous Close
₹191
Total Traded Value
0
52 Weeks High
₹191
52 Weeks Low
₹191
Updates On
Nov 28, 2025
IPO. Open
Dec 5, 2026
IPO. Close
Dec 9, 2026
IPO. Price
₹191.00
IPO Market price
₹194.38 Cr
IPO Details
| IPO Date | 12 Dec |
| IPO Listing Date | 12 Dec |
| IPO Face Value | ₹10 Per Equity Share |
| IPO Price Range | ₹191.00 |
| IPO Issue Size | 29,86,800 shares |
| IPO Sale Type | Fresh capital & OFS |
| Employee Discount | - |
| IPO Issue Type | BOOKBUILDING IPO |
| IPO Listing | NSE SME Platform |
| Share Holding Pre Issue | 76,64,328 shares |
IPO Timeline
| IPO Open Date | 5 Dec |
| IPO Close Date | 9 Dec |
| IPO Allotment (Tentative) | 10 Dec |
| Refunds | 11 Dec |
| Credit to Demat Account | 11 Dec |
| IPO Listing Date | 12 Dec |
IPO Reservation
| Category | Offer |
|---|---|
| QIB Shares Offered | 14,17,200 |
| NII (HNI) Shares Offered | 4,26,600 |
| Retail Shares Offered | 9,93,600 |
IPO Lot Size
Investors can bid for a minimum of 1,200 shares, and in multiples of 600 shares thereafter.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹2,29,200 |
| Retail (Max) | 2 | 1,200 | ₹2,29,200 |
| S-HNI (Min) | 3 | 1,800 | ₹3,43,800 |
| S-HNI (Max) | 8 | 4,800 | ₹9,16,800 |
| B-HNI (Min) | 9 | 5,400 | ₹10,31,400 |
Incorporated in 2011, Flywings Simulator Training Centre Limited is an aviation training company based in Gurgaon, specializing in comprehensive commercial aircraft training.
The company’s programs cover a wide range of areas, including aviation procedures, in-flight services, first aid, safety, emergency evacuation, personality development, and more. Flywings serves A-rated domestic airlines such as Vistara, Indigo, SpiceJet, and Air India, as well as international carriers like Himalaya Airlines and WOW Air.
Flywings provides high-quality, safety-focused training programs using advanced training devices including A-320 CEET, Boeing 787 door trainers, fire trainers, and water survival drills. Over the past three financial years, the company has delivered over 20,000 individual training modules to aviation professionals through its specialized training infrastructure.
Services:
Training Infrastructure Services (B2B): Aviation training solutions for airline clients
Training Services (B2C): Cabin crew training and ground training for individual professionals
Competitive Strengths :
Simulator infrastructure aligned with the majority of Indian fleet types
Recurring revenue streams supported by high switching costs
Regulatory compliance model enabling operational flexibility
Strategic location providing significant entry barriers
Company Financials (Consolidated)
| Assets | 59.4 | 64.65 | - |
| Total Income | 4.24 | 23.64 | - |
| Profit After Tax | 1.38 | 10.92 | - |
| EBITDA | 2.3 | 13.51 | - |
| NET Worth | 40.4 | 39.02 | - |
| Reserves and Surplus | 32.74 | 31.36 | - |
| Total Borrowing | 14.78 | 18.09 | - |
Key Performance Indicator (KPI)
| ROE | 35% |
| ROCE | 29% |
| Debt/Equity | 0.37 |
| RoNW | 34.75% |
| PAT Margin | 54.02% |
| EBITDA Margin | 66.85% |
| Price to Book Value | 3.75 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | 35.34 |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | 4.68 |
| 4 | Offer for Sale (OFS) | - |
Contact Details
Flywings Simulator Training Centre Ltd.
Ground Floor,
Killa No. 13, Begampur,
Khatula, Sector 35, Sadar Bazar,
Gurgaon, Haryana, 122001
Phone: 01244957945
Email: info@fwstc.co.in
Website: http://www.fwstc.co.in/
Detail Registrar
IPO Registrar
Bigshare Services Pvt. Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
The Flywings Simulator IPO was a ₹57.05 crore book-built SME issue, open from December 5–9, 2025, and listed on the NSE SME platform on December 12, 2025.
The IPO was priced at ₹191 per share with a lot size of 600 shares. Retail investors had to apply for a minimum of 1,200 shares, investing ₹2,29,200.
The IPO comprised a fresh issue worth ₹47.99 crore and an offer for sale of ₹9.05 crore, aimed at expanding training infrastructure and supporting general corporate purposes.
Flywings Simulator is an aviation training company offering simulator-based pilot, cabin crew, and safety training services to leading domestic and international airlines using advanced training infrastructure.
The company reported strong profitability with high margins, recurring B2B revenues, regulatory-aligned operations, and modern simulator infrastructure supporting India’s growing aviation training demand.
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