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Flywings IPO Allotment Looms: Key Date Set

Summary

  • Flywings Simulator Training Centre IPO allotment is scheduled for December 10.
  • The ₹57.05 crore IPO saw a total subscription of 1.67 times.
  • Proceeds will fund pilot training equipment and general corporate needs.
Flywings IPO Allotment Looms: Key Date Set

The focus for Flywings Simulator Training Centre investors has now shifted to the IPO allotment, scheduled for December 10. The ₹57.05 crore initial public offering, which concluded its subscription period on December 9, was oversubscribed by 1.67 times. Strong demand was observed across investor segments, including qualified institutional buyers and non-institutional investors.

The company plans to utilize the fresh capital to fund significant pilot training equipment upgrades, allocating ₹35.34 crore for this purpose. The remaining funds will be directed towards general corporate purposes, ensuring operational flexibility and future growth. The IPO's price band was set between ₹181 and ₹191 per share.

Flywings Simulator Training Centre's shares are anticipated to commence trading on the NSE SME platform on December 12. This listing marks a significant milestone for the training center, promising enhanced capabilities and expanded services within the aviation training sector.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.

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