Skyways Air Services IPO
Skyways Air Services IPO was a Mainboard book-built issue of ₹582.80 crore, comprising a Fresh Issue of ₹398.80 crore and an Offer for Sale of ₹184.00 crore. The price band was ₹131 to ₹138 per share, with a lot size of 100 shares.
Skyways Air Services IPO Details
Skyways Air Services IPO opened for public subscription on August 24, 2026 and closed on August 27, 2026. The basis of allotment was scheduled for August 28, refunds were scheduled to begin on August 31, shares were scheduled to be credited to Demat accounts on August 31, and the shares were scheduled to list on BSE and NSE on September 1, 2026.
Skyways Air Services IPO GMP
The latest reported Skyways Air Services IPO GMP on August 27, 2026 was approximately ₹40 against the ₹138 upper price band. This indicated an unofficial estimated price of around ₹178. GMP is unofficial grey-market information and does not guarantee the actual listing price.
Skyways Air Services IPO Timeline (Tentative)
Skyways Air Services IPO opened on August 24, 2026 and closed on August 27, 2026. The basis of allotment was scheduled for August 28, followed by refund initiation and Demat credit on August 31. The shares were scheduled to list on BSE and NSE on September 1, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Mon, Aug 24, 2026 |
| IPO Close Date | Thu, Aug 27, 2026 |
| Basis of Allotment | Fri, Aug 28, 2026 |
| Initiation of Refunds | Mon, Aug 31, 2026 |
| Credit of Shares to Demat | Mon, Aug 31, 2026 |
| Listing Date | Tue, Sep 1, 2026 |
| IPO Opens | August 24, 2026 |
| IPO Closes | August 27, 2026 |
| Basis of Allotment | August 28, 2026 |
| Refund Initiation | August 31, 2026 |
| Credit of Shares to Demat | August 31, 2026 |
| Listing Date | September 1, 2026 |
Skyways Air Services IPO Lot Size
The Skyways Air Services IPO lot size was 100 shares. At the upper price band of ₹138 per share, one lot required an investment of ₹13,800. Retail investors could apply for up to 14 lots, or 1,400 shares, amounting to ₹1,93,200.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 100 | 13,800 |
| Retail (Max) | 14 | 1,400 | 1,93,200 |
| S-HNI (Min) | 15 | 1,500 | 2,07,000 |
| S-HNI (Max) | 72 | 7,200 | 9,93,600 |
| B-HNI (Min) | 73 | 7,300 | 10,07,400 |
Skyways Air Services IPO Reservation
The Skyways Air Services IPO reserved up to 50% of the offer for Qualified Institutional Buyers, not less than 15% for Non-Institutional Investors and the remaining 35% for Retail Individual Investors.
Skyways Air Services IPO Subscription
Skyways Air Services IPO received 71.25x overall subscription by the close of bidding on August 27, 2026. The QIB portion was subscribed 139.69x, the NII portion 87.24x and the Retail Individual Investor portion 25.40x.
| Category | Subscription (times) |
|---|---|
| QIB | 139.69x |
| NII | 87.24x |
| RII | 25.40x |
| Total | 71.25x |
About Skyways Air Services
Skyways Air Services Limited was incorporated in 1984 and operates in the air freight forwarding and logistics sector. The company provides logistics solutions covering air freight forwarding, ocean freight forwarding, trucking, warehousing, customs broking, express cargo and parcel delivery, cargo handling and related logistics services.
The company follows an integrated logistics model and serves customers involved in domestic and international trade. Its service portfolio allows customers to access multiple logistics activities through a single service platform.
Skyways Air Services has developed capabilities across freight forwarding and associated logistics activities. The company also operates through its subsidiary Forin Container Line Private Limited, which is specifically referred to in the objects of the IPO.
The company has also undertaken initiatives in cargo infrastructure and logistics. In 2026, it entered into a consortium arrangement with Swissport International AG for a bid relating to development of a new cargo terminal at Netaji Subhash Chandra Bose International Airport, Kolkata.
Strengths
- More than four decades of experience in freight forwarding and logistics.
- Integrated range of air and ocean freight and logistics services.
- Presence across multiple logistics activities.
- Capability to provide freight forwarding and related services through an integrated model.
- Established operations in domestic and international logistics.
- Exposure to growing requirements for organised freight and logistics services.
Risks to Consider
- The company's performance is linked to volumes and activity in domestic and international trade.
- Freight rates and logistics costs can fluctuate depending on market conditions.
- The logistics industry is competitive and includes both organised and unorganised service providers.
- The company requires working capital to support its operating requirements.
- Changes in international trade conditions, freight capacity and transportation costs may affect business performance.
- The company has outstanding borrowings, and part of the Fresh Issue proceeds is proposed to be used for repayment or prepayment of borrowings.
Skyways Air Services Financials (₹ Cr)
Skyways Air Services reported consistent growth in total income and profit during FY2024-FY2026. Total income increased from ₹1,316.81 crore in FY2024 to ₹2,839.67 crore in FY2026, while PAT increased from ₹34.49 crore to ₹63.52 crore during the same period. Net worth increased to ₹332.64 crore in FY2026.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | 1,316.81 | 34.49 | 790.35 | 154.26 |
| FY2025 | 2,270.99 | 48.14 | 1,321.64 | 247.14 |
| FY2026 | 2,839.67 | 63.52 | 1,508.24 | 332.64 |
KPIs & Valuation
For FY2026, Skyways Air Services reported RoNW of 12.33%, ROE of 14.15%, ROCE of 18.11%, EBITDA margin of 4.47% and PAT margin of 2.26%. The reported pre-IPO EPS was ₹5.46 and post-IPO EPS was ₹4.37, with NAV of ₹28.91 per share.
Objects of the Issue
The net proceeds from the Fresh Issue are proposed to be used for repayment or prepayment of certain borrowings, funding incremental working capital requirements and general corporate purposes. The RHP identifies ₹216.79 crore for debt repayment/prepayment and ₹130.00 crore for incremental working capital requirements.
- The company proposed to utilise the IPO proceeds for:
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company and its subsidiary Forin Container Line Private Limited – ₹216.79 crore.
- Funding incremental working capital requirements of the company – ₹130.00 crore.
- General corporate purposes.
Promoters, Lead Managers & Registrar
Skyways Air Services Limited is promoted by Yashpal Sharma and Tarun Sharma. Holani Consultants Private Limited, Shannon Advisors Private Limited and Dolat Finserv Private Limited acted as the Book Running Lead Managers to the Offer. Bigshare Services Private Limited acted as the Registrar to the Offer.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Bigshare Services Private Limited |
|---|---|
| Phone | +91 22-6263 8200 |
| ipo@bigshareonline.com | |
| Website | https://www.bigshareonline.com/ |
Skyways Air Services IPO Review
Skyways Air Services reported growth in total income from ₹1,316.81 crore in FY2024 to ₹2,270.99 crore in FY2025 and ₹2,839.67 crore in FY2026. Profit after tax increased from ₹34.49 crore in FY2024 to ₹48.14 crore in FY2025 and ₹63.52 crore in FY2026.
The company operates across several logistics activities, including air freight forwarding, ocean freight forwarding, trucking, warehousing and customs-related services. This integrated service portfolio provides exposure to different stages of the freight movement and logistics chain.
Net worth increased from ₹154.26 crore in FY2024 to ₹247.14 crore in FY2025 and ₹332.64 crore in FY2026. Total assets also increased from ₹790.35 crore in FY2024 to ₹1,508.24 crore in FY2026.
At the upper IPO price of ₹138, the reported pre-IPO EPS was ₹5.46 and post-IPO EPS was ₹4.37. The reported valuation metrics indicate that the IPO was priced at a higher multiple on a post-issue EPS basis.
How to Apply
Skyways Air Services IPO applications could be made through the ASBA process, including UPI-supported applications. The minimum application consisted of one lot of 100 shares, requiring ₹13,800 at the upper price band of ₹138.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Skyways Air Services IPO.
- Enter the number of lots you want to apply for.
- Select the applicable bid price or Cut-off option where permitted.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI app when the mandate request arrives.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Investors can refer to the company's RHP and other offer documents for detailed information on the business, financial statements, risk factors, objects of the issue, capital structure and other statutory disclosures. The company maintains an investor section containing its DRHP, RHP, corrigendum, price band advertisement, abridged prospectus and related offer documents.
Last updated Aug 29, 2026.