Flywings Simulator SME: Check IPO Date, Live Subscription and Key Details
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 services to major domestic and international airlines (Vistara, Indigo, Air India, etc.), utilizing advanced training devices like A-320 CEET and Boeing 787 door trainers. It also runs a smaller B2C division for aspiring cabin crew and ground staff, with services compliant with industry and DGCA standards.
Price Range
₹181.0 - ₹191.0
Issue Size
₹54.19 Cr
Lot Size
600 shares
IPO Type
NSE SME
GMP
-
Est. Listing Price
₹191
Estimate Profit
-
Retail Portion
33.27%
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
5.42
P/E Ratio
35.24
RoNW
34.75%
ROE
34.75%
Debt to Equity
0.37
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Timeline
IPO Opens
5 Dec
IPO Closes
9 Dec
Allotment
10 Dec
Listing
12 Dec
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 5 December 2025 | Subscription starts |
| IPO Close Date | 9 December 2025 | Subscription ends |
| Allotment Date | 10 December 2025 | Allotment |
| Listing Date | 12 December 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
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
| Category | Reservation |
|---|---|
| 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% |
| Retail | 33.27% |
| Market Maker | 5.00% |
| Total | 100.00% |
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 Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 59.4 | 64.65 | 44.95 | 16.38 |
| Revenue (₹ Cr.) | 4.24 | 23.64 | 22.6 | 10.44 |
| PAT (₹ Cr.) | 1.38 | 10.92 | 10.74 | 4.16 |
| Net Worth (₹ Cr.) | 40.4 | 39.02 | 23.8 | 1.08 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 |
|---|---|---|
| QIB | 0x | 0.7x |
| NII | 1.16x | 2.14x |
| S-HNI | 0.01x | 0.12x |
| B-HNI | 1.73x | 3.15x |
| RII | 0.08x | 0.34x |
| Total | 0.29x | 0.83x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 5,67,000 | 3,98,400 | 7.61 |
| NII | 4,26,600 | 9,13,800 | 17.45 |
| Small NII | 1,42,200 | 17,400 | 0.33 |
| Big NII | 2,84,400 | 8,96,400 | 17.12 |
| RII | 9,93,600 | 3,42,000 | 6.53 |
| Total | 19,87,200 | 16,54,200 | 31.6 |
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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
- Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://ipo.bigshareonline.com/IPO_Status.html
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.
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