Flywings Simulator Training NSE SME

Flywings Simulator SME IPO

Listed

NSE SMEOpens 5 December 2025Closes 9 December 2025

Flywings Simulator Training Centre Limited, established in 2011, provides specialized Safety and Emergency Procedures (SEP) training facilities for the aviation industry in India. The company offers B2B training…

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Live GMPSubscriptionAllotment
Price band
₹181 - ₹191
Issue size
₹54.19 Cr
Lot size
600 shares
Type
NSE SME
GMP
₹0 (0.0%)
Est. listing
₹191
Est. profit / app
—
Retail quota
33.27%

Key ratios

As per RHP / filings
Face value
₹10
EPS
5.42
P/E ratio
35.24
RoNW
34.75%
ROE
34.75%
Debt / Equity
0.37
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Timeline

  1. IPO Opens

    5 Dec 2025

  2. IPO Closes

    9 Dec 2025

  3. Allotment

    10 Dec 2025

  4. Listing

    12 Dec 2025

IPO Timeline & Listing Details

EventDate
IPO Open Date5 December 2025
IPO Close Date9 December 2025
Allotment Date10 December 2025
Listing Date12 December 2025

Investment Categories

CategoryLotsAmount
Individual
2₹2,29,200
SHNI (Min)
3₹3,43,800
SHNI (Max)
8₹9,16,800
BHNIAbove ₹10,00,000
9₹10,31,400

IPO Reservation Details

CategoryReservation
QIB (Qualified Institutional Buyer)47.45%
NII (Non-Institutional Investor)14.28%
SHNI (Small Non-Institutional Investor)4.76%
BHNI (Big Non-Institutional Investor)9.52%
Retail33.27%
Market Maker5.00%
Total100.00%

IPO Objectives

  • Capital Expenditure towards Pilot Training Equipments (₹35.34 Cr).
  • General Corporate Purposes.

Strengths

  • The company has a Simulator Infrastructure Aligned with Majority of Indian Fleet Types, providing relevant and high-quality SEP training (Safety and Emergency Procedures).
  • The Regulatory Compliance Model enables operational flexibility and is aligned with the training needs of DGCA-approved airlines.
  • It benefits from Recurring Revenue Streams supported by High Switching Costs, as airlines prefer long-term contracts for standardized safety training.
  • The business shows High Profitability, with an exceptional PAT Margin of 54.02% and RoNW of 34.75% in FY25, indicating high efficiency and specialized service demand.
  • The Strategic CapEx focus is on acquiring Pilot Training Equipments (₹35.34 Cr) to expand its service offering beyond cabin crew training.

Weaknesses

  • The Aggressive Valuation with a P/E ratio of 35.24x is considered greedily priced by market reviewers, despite the high margins.
  • The company has shown Inconsistent Performance in its operating and financial results over the reported periods.
  • The business is Highly Capital Intensive, with significant funds required for equipment acquisition (₹35.34 Cr), exposing it to high maintenance and obsolescence risk.
  • The Offer for Sale (OFS) of ₹9.05 Cr provides exit liquidity to promoters/investors rather than funding company growth.
  • The IPO was undersubscribed at 0.98 times, which may reflect weak investor demand at the offered price.
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Financial Performance

Period Ended30 Jun 202531 Mar 202531 Mar 202431 Mar 2023
Assets (₹ Cr.)59.464.6544.9516.38
Revenue (₹ Cr.)4.2423.6422.610.44
PAT (₹ Cr.)1.3810.9210.744.16
Net Worth (₹ Cr.)40.439.0223.81.08

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)

Subscription Details

Daily Bids Status

CategoryDay 1Day 2
QIB0x0.7x
NII1.16x2.14x
S-HNI0.01x0.12x
B-HNI1.73x3.15x
RII0.08x0.34x
Total0.29x0.83x

Overall Subscription Statistics

CategoryShares OfferedShares BidBid Amount (₹ Cr)
QIB5,67,0003,98,4007.61
NII4,26,6009,13,80017.45
Small NII1,42,20017,4000.33
Big NII2,84,4008,96,40017.12
RII9,93,6003,42,0006.53
Total19,87,20016,54,20031.6
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Company Details

  • Flywings Simulator Training Centre Ltd.
  • Ground Floor, Killa No. 13, Begampur, Khatula, Sector 35, Sadar Bazar, Gurgaon, Haryana-122001
  • 01244957945
  • info@fwstc.co.in
  • http://www.fwstc.co.in/

Registrar Details

Frequently Asked Questions

What is the core business of Flywings Simulator Training?
Flywings Simulator Training Centre provides specialized Safety and Emergency Procedures (SEP) training facilities for the aviation industry, serving major B2B airline clients and B2C cabin crew aspirants.
When did the Flywings Simulator Training IPO close for subscription?
The Flywings Simulator Training SME IPO opened on December 5, 2025, and officially closed on December 9, 2025.
What is the IPO price band and listing exchange?
The price band was ₹181.00 to ₹191.00 per share. The tentative listing date on the NSE SME is December 12, 2025.
What are the main objectives of the Fresh Issue funds?
The net proceeds are primarily for Capital Expenditure towards procuring Pilot Training Equipments (₹35.34 Cr) to expand its training capabilities.
What are the key financial strengths and risks of Flywings Simulator Training?
The key strength is its high RoNW of 34.75% and PAT margin of 54.02% (FY25). The key risk is the IPO's aggressive valuation and the issue being undersubscribed.
How was the Flywings Simulator Training IPO subscribed?
The IPO was undersubscribed overall at 0.98 times (as of closing on Dec 9, 2025), though the NII portion saw bidding of 2.39 times.

Flywings Simulator SME IPO News & Updates

Follow the latest updates for Flywings Simulator SME IPO, including grey market moves and allotment news.

Flywings Simulator SME IPO IPO Pages

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Flywings Simulator SME IPO Details

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Flywings Simulator SME IPO GMP

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Flywings Simulator SME IPO Subscription

QIB, NII, Retail, SHNI and BHNI subscription

Flywings Simulator SME IPO Allotment

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Flywings Simulator SME IPO Review

SWOT, strengths, risks, and IPO review

Flywings Simulator SME IPO FAQ

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Flywings Simulator SME IPO Registrar

Registrar website and how to check allotment

Flywings Simulator SME IPO Timeline

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Flywings Simulator SME IPO News

Updates, blogs, and latest IPO news

Sources

We match Flywings Simulator SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • Bigshare Services Pvt.Ltd.Official site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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