FLYWINGS SIMULATOR TRAINING CENTRE IPO

FLYWINGS SIMULATOR TRAINING CENTRE IPO

Discovering Flywings Simulator Training Centre IPO

Important Dates for Investors

• Opening Date: 05 Dec 2025
• Closing Date: 09 Dec 2025
• UPI Payment Deadline: 09 Dec 2025 (5 PM)
• Allotment Announcement: 10 Dec 2025
• Refund Processing: 11 Dec 2025
• Demat Credit: 11 Dec 2025
• Stock Market Listing: 12 Dec 2025
• Mandate Validity End: 24 Dec 2025
• Anchor Investor Lock-in Release (50%): 09 Jan 2026
• Anchor Investor Lock-in Release (Remaining): 10 Mar 2026

*Dates may be revised as per official updates.

About Flywings Simulator Training Centre Limited

Founded in 2011, Flywings Simulator Training Centre Limited (FSTCL) is a Gurugram-based aviation training provider. The company specializes in offering crucial Safety and Emergency Procedures (SEP) infrastructure and comprehensive training solutions for both cabin and cockpit crew members. Promoted by Ms. Rupal Sanjay Mandavia and Mr. Mitul Natvarlal Mandavia, FSTCL operates advanced aircraft-specific simulators and DGCA-approved classrooms. These facilities are integral to supporting mandated airline-operated training programs, positioning FSTCL as a key player in India’s dynamic aviation sector. Beyond its robust B2B segment, which supplies simulator-based SEP training to leading airlines, FSTCL also runs a B2C vertical. This segment focuses on vocational training for individuals aspiring to careers in the aviation and hospitality industries, thereby addressing a broader market need for skilled professionals.

Demonstrating a forward-looking approach, the company has diversified into drone training and holds a strategic stake in a DGCA-approved flying training organization, effectively creating an integrated and comprehensive aviation training ecosystem. This strategic integration, combined with high-fidelity simulators, long-term airline contracts, and a strategically located facility in Gurugram, positions FSTCL uniquely in India’s aviation training landscape, playing a vital role in meeting industry-wide skill and safety training requirements. The company’s focus on essential, regulated training services highlights its critical contribution to aviation safety and skill development.

Overview of Fundraising

The IPO comprises a fresh issue of shares, where the proceeds will directly flow into the company’s coffers, and an Offer for Sale (OFS) component, where existing shareholders will sell a portion of their holdings. The substantial fresh issue component indicates the company’s intent to invest significantly in its future growth, primarily through capital expenditure.

Deployment of Capital

A significant portion of the fresh issue proceeds is earmarked for capital expenditure, specifically for pilot training equipment. This allocation underscores Flywings Simulator Training Centre’s commitment to enhancing its training infrastructure and expanding its capabilities in a high-demand segment of aviation training. Investing in advanced pilot training equipment is crucial for maintaining a competitive edge and meeting the evolving needs of the aviation industry, reflecting a strategic long-term vision for growth and operational excellence.

Key Competitive Advantages

• Strong Presence in Specialised Aviation SEP Training: FSTCL holds a robust position in the niche yet critical segment of Safety and Emergency Procedures (SEP) training. Its advanced simulators provide highly realistic and effective training environments, essential for the preparedness and safety of both cabin and cockpit crew, making it a preferred choice for airlines.
• Long-term B2B Relationships: The company has cultivated enduring relationships with leading domestic and regional airlines. These long-term contracts provide a stable revenue stream and demonstrate the trust and reliability FSTCL has built within the highly regulated aviation sector, ensuring consistent demand for its services.
• Asset-heavy Infrastructure: FSTCL’s substantial investment in high-fidelity simulators and specialized training facilities creates significant entry barriers for potential competitors. This asset-heavy model requires considerable capital outlay and expertise, solidifying the company’s market position and protecting its competitive advantage.
• Strategic Gurugram Location: The training centre’s location in Gurugram is strategically advantageous, being in close proximity to major airline hubs and national capital region airports. This geographical benefit facilitates easier access for airline clients and individual trainees, enhancing operational efficiency and market reach.
• Diversified Aviation Ecosystem: Beyond SEP training, FSTCL has expanded its offerings to include cabin crew, pilot, and drone training capabilities. This diversification creates an integrated aviation training ecosystem, allowing the company to tap into multiple revenue streams and cater to a broader spectrum of aviation skill development needs, thereby future-proofing its business model.

Potential Risk Factors

• Dependence on Airlines for Revenue: The company’s core business heavily relies on recurring training infrastructure revenue from airlines. Fluctuations in airline profitability, operational changes, or consolidation within the airline industry could significantly impact FSTCL’s financial performance and revenue stability.
• High Capital Expenditure Requirements: Operating and expanding an aviation training facility necessitates substantial capital expenditure for procuring, upgrading, and maintaining state-of-the-art simulators and related equipment. These high costs can put pressure on cash flows and require continuous investment to stay current with technology and regulatory standards.
• Sensitivity to Aviation Industry Fluctuations: The aviation industry is inherently cyclical and sensitive to economic downturns, fuel price volatility, geopolitical events, and pandemics. Any significant negative impact on the broader aviation sector could directly affect the demand for training services provided by FSTCL.
• Regulatory Changes by DGCA: As a highly regulated sector, aviation training is subject to strict standards set by the Directorate General of Civil Aviation (DGCA). Any adverse changes in regulations, certification requirements, or equipment standards could necessitate costly upgrades, impact operational procedures, or even affect the validity of existing approvals.
• Limited Number of Airline Customers: A concentration of revenue from a limited number of airline clients exposes FSTCL to concentration risk. The loss of a major client or a significant reduction in their training requirements could have a disproportionately large negative impact on the company’s financial results and market position.

Latest Subscription Data

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*GMP figures are unofficial and may vary; exchange data is more reliable.

How to Apply

Investors can participate in this IPO via the official Dhan Kirti IPO platform before the subscription closes.