Flywings Simulator Training Centre Limited IPO Opens on December 05, 2025

• Total Issue Size – Up To 29,86,800 Equity Shares of ₹ 10 each • Fresh Issue - Up To 25,12,800 Equity Shares • Offer For Sale - Up To 4,74,000 Equity Shares • IPO Size - ₹ 57.05 Crore (At Upper Price Band) • Price Band - ₹ 181 - ₹ 191 Per Share • Lot Size - 600 Equity Shares Mumbai – Flywings Simulator Training Centre Limited (The Company, Flywings) provides simulation-based aviation training with a focus on Safety and Emergency Procedures (SEP) for cabin and cockpit crew, proposes to open its Initial Public Offering on Friday, December 05, 2025 aiming to raise ₹ 57.05 Crore (At Upper Price Band), with shares to be listed on the NSE Emerge platform.

The issue size is 29,86,800 equity shares at a face value of ₹ 10 each with a price band of ₹ 181 - ₹ 191 Per Share.

Equity Share Allocation • Anchor Portion – 8,50,200 Equity Shares • Qualified Institutional Buyer – 5,67,000 Equity Shares • Non-Institutional Investors – Not less than 4,26,600 Equity Shares • Retail Individual Investors - Not less than 9,93,600 Equity Shares • Market Maker – Up To 1,49,400 Equity Shares The net proceeds from the IPO will be utilized for capital expenditure towards pilot training equipment and for general corporate purposes. The anchor portion will open on December 04, 2025 and issue will close on December 09, 2025. The Book Running Lead Manager to the Issue is Sobhagya Capital Options Private Limited & Gretex Corporate Services Limited, The Registrar to the Issue is Bigshare Services Private Limited Mr. Rupal Sanjay Mandavia, Managing Director & CFO of Flywings Simulator Training Centre Limited expressed, “The IPO marks a significant milestone in the growth journey of Flywings Simulator Training Centre Limited. With a strong foundation in simulation-based aviation training and a dedicated focus on Safety and Emergency Procedures, the Company has established a credible and growing presence in the industry. Its DGCA recognised centres, supported by an advanced simulator ecosystem, positions Flywings to effectively cater to the increasing training demands of the aviation sector.

The IPO proceeds will be used for capital expenditure toward new simulators, training equipment, and infrastructure enhancement. This investment will increase training capacity, support service diversification, and expand the Company’s reach to more airline partners and trainees. The offering will enable Flywings to accelerate its growth plans, strengthen market presence, and capitalize on rising demand in the aviation training space.” Mr. Alok Harlalka, Managing Director & CFO of Gretex Corporate Services Limited said, “We are pleased to support Flywings Simulator Training Centre Limited as it advances to its next phase of growth. The Company has built a strong position in aviation training with its simulation-based learning model and focus on Safety and Emergency Procedures (SEP). It currently operates four aircraft training facilities equipped with seven full-scale simulators, maintains six active airline contracts, and serves more than ten airline clients. With over 20,000 training programs delivered under structured Training Service Agreements, Flywings continues to demonstrate predictable and recurring revenue, backed by a robust operational framework and industry-aligned modules.” The funds raised through this IPO will enable the Company to invest in new simulators, upgrade training equipment, and expand its training infrastructure. This capital utilization will support higher capacity, broaden service offerings, and strengthen Flywings’ reach across domestic and international aviation markets. We believe this IPO will accelerate the Company’s growth path and contribute to the development of a stronger aviation training ecosystem in India.” About Flywings Simulator Training Centre Limited: Flywings Simulator Training Centre Limited (Flywings) provides simulation-based aviation training with a strong focus on Safety and Emergency Procedures (SEP) for cabin and cockpit crew. The Company offers simulator-based SEP training through both B2B airline contracts and B2C programs.

Its DGCA recognised training centres includes advanced equipment such as the A320 CEET, A321 Neo Door Trainer, B787 Door Trainer with an integrated slide, B737 Evacuation Slide, and the V7000 Live Fire & Smoke Trainer. Flywings operates under structured Training Services Agreements with airlines, ensuring predictable and recurring revenue streams.

The comapny operates four aircraft training facilities equipped with seven full-scale simulators, maintaining six active airline contracts and serving over 10 airline clients. Training programs are delivered under structured Training Service Agreements, ensuring predictable and recurring revenue. With a strong operational framework and industry-aligned modules, the Company has successfully delivered more than 20,000 training programs to date.

In FY25, The Company achieved a Revenue of ₹ 2,021.05 Lakhs, EBITDA of ₹ 1,350.98 Lakhs & PAT of ₹ 1,091.74 Lakhs.

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