DATE	GMP (GREY MARKET PREMIUM)	EXPECTED LISTING GAINS
09-Dec-2025	–	–
08-Dec-2025	–	–
07-Dec-2025	–	–
06-Dec-2025	–	–
05-Dec-2025	–	–

The Flywings Simulator IPO has generated significant interest as the company prepares to go public. Flywings Simulator Training Centre Limited specializes in simulation-based aviation training, focusing on Safety and Emergency Procedures (SEP) for cabin and cockpit crew. With the IPO opening on 5 December 2025, this public offering provides investors a chance to gain exposure to a niche aviation-training company with strong financials, operational infrastructure, and recurring revenue.

Company Overview

Flywings Simulator Training Centre Limited offers high-fidelity training for airline crew, including emergency evacuation, first aid, fire and smoke drills, water-survival training, in-flight procedures, and soft-skill enhancement. The company uses advanced simulators and mock aircraft setups to closely replicate real-life aviation scenarios.

Over the years, Flywings has trained thousands of crew members across various airlines. Its recurring contracts provide steady revenue, reducing dependence on one-time projects. The company has grown in line with the expansion of India’s aviation sector, delivering consistent and profitable operations.

IPO Details

• IPO Open Date: 5 December 2025
• IPO Close Date: 9 December 2025
• Price Band: ₹181 – ₹191 per share
• Face Value per Share: ₹10
• Lot Size: 600 shares; minimum retail application is 2 lots (1,200 shares)
• Total Issue Size: 29,86,800 shares aggregating ~₹57.05 crore
• Listing Exchange: NSE SME (Emerge)
• Allotment: Includes allocation for Retail Investors, Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Anchor Investors
• GMP: The IPO content reflects market interest in GMP.

The IPO proceeds will be used to upgrade simulators, expand training facilities, acquire new equipment, and support general corporate purposes. This expansion will increase the company’s training capacity and support long-term growth.

Financial Performance

For the fiscal year ending March 2025:

• Revenue: ₹23.64 crore
• Profit After Tax (PAT): ₹10.92 crore
• EBITDA: ₹13.51 crore
• EBITDA Margin: 66.85%
• PAT Margin: 54.02%

These figures reflect strong profitability and efficient operations. The recurring contracts and low variable costs inherent in simulation-based training contribute to high margins.

Key Strengths

• Niche Focus: Specialized aviation-training services with regulatory relevance ensure steady demand.
• Recurring Revenue: Airline contracts provide predictable cash flow.
• Strong Margins: Efficient cost structure and scalable training modules contribute to profitability.
• Growth Potential: Rising airline fleets and increasing safety compliance drive demand for training.
• SME IPO Size: Moderate issue size makes it accessible to retail investors while supporting company expansion.

Key Considerations

• Liquidity Risk: SME-listed shares may have lower post-listing trading volumes.
• Sector Dependence: Slowdown in aviation or reduced fleet expansion could affect training demand.
• Execution Risk: Efficient deployment of IPO funds into new infrastructure is crucial for growth.
• Promoter Holding: Post-IPO promoter shareholding remains significant, but minority investors should monitor governance and execution.

The Flywings Simulator IPO provides an opportunity to invest in a high-margin, niche aviation-training company with strong financials and recurring revenue. The mention of GMP indicates investor interest. With expansion plans funded by the IPO, the company is positioned to benefit from India’s growing aviation sector. Investors should weigh SME liquidity and sector dependency before applying.