Skyways Air Services IPO opens on August 24; check price band, issue size & other details

Delhi-based air freight forwarding and logistics company Skyways Air Services Ltd. has fixed the price band for its initial public offering at Rs 131-Rs 138 per equity share. The issue will open for subscription on August 24 and close on August 27, while the anchor investor portion will open for bidding on August 21.

The IPO comprises a fresh issue of 2.88 crore equity shares and an offer-for-sale of up to 1.33 crore shares by existing shareholders, including promoters Yashpal Sharma and his brother Tarun Sharma. Investors can bid for a minimum of 100 shares and in multiples thereafter. At the upper end of the price band, the company is expected to command a post-listing market capitalisation of Rs 2,005.74 crore.

The fresh issue size has been reduced from the 3.29 crore equity shares proposed in the company’s draft red herring prospectus filed with the Securities and Exchange Board of India in June 2025, following a pre-IPO fundraise. SEBI cleared the company’s IPO papers in November 2025.

Skyways Air Services has already raised Rs 48.23 crore through a pre-IPO placement of 40.19 lakh equity shares at Rs 120 apiece. The company said, "The amount raised from the pre-IPO placement is currently parked in fixed deposit receipts and will be utilised for general corporate purposes."

Of the total issue size, 50 per cent has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 35 per cent for retail investors. It will use Rs 216.78 crore from the net fresh issue proceeds to repay debt of the company and its subsidiary, It had total outstanding borrowings of Rs 504.65 crore on a standalone basis, while subsidiary Forin Container Line had outstanding borrowings of Rs 81.58 crore as June 30, 2026.

A further Rs 130 crore will be used to meet incremental working capital requirements, while the remaining proceeds will be utilised for general corporate purposes. The proceeds from the offer-for-sale will accrue to the selling shareholders.

For the year ended March 2026, Skyways Air Services reported a net profit of Rs 63.5 crore, up 32 per cent from Rs 48.1 crore a year earlier. Revenue rose 25.1 per cent to Rs 2,812.9 crore from Rs 2,247.8 crore in the same period.

Holani Consultants, Shannon Advisors and Dolat Finserv have been appointed as merchant bankers to the IPO. The company is expected to finalise the share allotment by August 28 and is likely to make its stock market debut on September 1, 2026.